5 Tips to Simplify Your Finances

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TRACK YOUR EXPENSES

Not knowing where your money is going is inherently stressful. Tracking expenses is one way to relieve that particular worry. Try saving receipts or using an app, such as Monarch Money or MoneyMinder, that syncs with your bank. Don’t overthink the tool: Whatever system feels good to you is the right one, suggests financial therapist Bari Tessler, MA, in The Art of Money: A Life-Changing Guide to Financial Happiness. The point is to create ease. “Simply pausing and saying, ‘Yes, I’d like a receipt’ at the register can bring a small breath of mindfulness to your money relationship,” she writes.

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CREATE A MONEY-MANAGING ROUTINE

To bypass any resistance that financial tasks may trigger, set up automatic payments for bills and deposits. Then, once a week, set aside a quiet time to tally your receipts and balance your accounts. Routine financial check-ins may initially feel awkward, Tessler explains, but “over time, your nervous system will relax into the reassuring repetition.”

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PAUSE BEFORE YOU PURCHASE

Compassionately tuning in to your body’s signals may help alleviate the numbness that can lead to overspending, Tessler notes. So before you click “buy,” pause — and ask yourself how you’re feeling. Make it a habit to leave things in your online shopping cart for 24 hours before purchasing. Slowing down and checking in sends the message that you matter, she adds. “What’s arising inside you deserves attention.” (Struggle with emotional shopping? See “What Triggers Emotional Shopping and How to Take Back Control” for expert advice on taking charge of your spending.)

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APPRECIATE WHAT YOU HAVE

Contentment is “the key to overcoming the passion for possessions,” Becker notes in his book Things That Matter. Relishing what we already have can be a shortcut to satisfaction and an easy antidote to overspending. Contentment brings health benefits too: It can lower your stress levels, improve your outlook, and boost your overall happiness.

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GIVE A LITTLE

Though it may sound counter­intuitive, being generous with your money can help curb money anxiety. Try buying someone a cup of coffee or donating a little to a cause you care about. Now check to see if you’re still OK financially and whether you feel less anxious. “Notice how your needs are being met and how you had extra to spare,” suggests Becker. This can go a long way toward reducing scarcity thinking.