Financial, Guest Blogs, Wellness

Don’t Take Frugal Too Far

Expenses

Don’t take frugal too far – be OK with investing in yourself, your health, your life

June 20, 2018

Frank Galea, CFA

 
Is it possible to take frugality too far? Does investing in your health and wellbeing cause you to panic? Can you keep on track toward your long term goals without making today a slog through suffering? Let’s talk about Financial Anorexia. We’ve been reading a lot of blogs from extreme savers lately. On the one hand these folks are inspirational because they show how much people, in the name of their goal of financial freedom, are willing to break the shackles of out of control mainstream consumer culture. On the flip side, some of these extreme savers and heroes of frugality may be compelled by internal forces bordering on mental health issues. It’s a question of knowing where you draw the line and also being able to stay on the side of it you intend, rather than getting dragged across it against your will.

 I first heard the term “financial anorexia” on my favorite podcast, The Jordan Harbinger Show – listen to this clip below. A listener wrote-in about how she has struggled with eating disorders in the past and after resolving those, she now finds herself unable to spend money on herself without fearing total loss of control – and she is compelled to deprive herself:

You came here to FiClub because you are also a strong believer in taking control of your finances, but don’t let your finances take control of you either. Know where the line is between thoughtful frugality and pathological self-denial. Here’s a simple prompt to help you explore:

If you budgeted an extra $500 per month on personal care (massage, coaching, yoga and exercise), how would that make you feel?

      a). Like I’m bleeding money and I’d be a fool!

      b). Ok, as long as I can still reach my goals

      c). Who cares? Spend it before it rots!

Picture it as a scale between 1 to 10, between feeling anxious and feeling secure. Where do you believe that extra $500 spend will leave you on the 1-10 scale? Now, look at other areas of your spending, whether you are spending on a high rent vanity apartment, a lease on a new car, interest on credit cards.  Compare the level of life satisfaction you receive per dollar spent and allow yourself to invest some of your money in your well-being.

The FiClub approach to managing expenses: make sure they reflect your true priorities. We help bring awareness to your spending patterns and your habits. We don’t tell clients that all spending is wrong and we don’t advocate stopping all spending in a knee-jerk manner. It’s not a sustainable nor mentally healthy approach to life and your finances. We help clients make room for what matters most to them, and what they experience the greatest value from.

Let’s say that you want to make a major shift in your life and that you want to invest in your health.Starting with how you eat, let’s say you want to consult with a nutritionist, like our friend Chloe Labare in San Francisco. to create meal plans that will help your body, mind and energy to be optimized.There will be a cost for this service: your initial consultation ($125) and then $50 for the follow-up sessions you will need monthly to adapt your program. You will also be spending more initially on restocking your fridge and cupboard. This goes into your budget at the time you sign up. How do you feel about yourself now? Is there a residual guilt or anxiety about spending the money? Or do you feel more in control, like you are directing the money towards your purposes? With the FiClub coaching approach we hope to give you the skills and awareness to experience the latter and to free yourself from the constraints of financial anorexia or other limitations of habit and mindset. Our goal is for you to experience prosperity, at whatever level of wealth and income your life allows.

For Part II of our post, we’re going to hear from our FiClub friend, Jennifer Gardner, Co-Founder and Coach at Shift Holistics, a wellness collective based in Flint, Michigan and President of the Flint Chapter of the Holistic Chamber of Commerce.

Find her response here.

Originally published on FiClub.org

Find Your Tribe, Guest Blogs

How to Find Your Like-Minded Tribe

How to Find Your Like-Minded Tribe

I was excited when the team at SHIFT Holistics asked me to write a guest blog for them. I had an opportunity to spend some time with them and see how a group of like-minded people are coming together to make a difference, and it’s inspiring. The beauty of finding each other to develop this great business is not lost on any of them. I think they are still surprised that they found each other.

Those of us who are seekers and committed to personal development read and hear about finding our like-minded people. Our tribe. When we find others who we can share beliefs with, who we connect with … we become better. We can be inspired to even higher visions together. A company like SHIFT Holistics was created by these like-minded people creating a collective vision of services to a higher level than could have been achieved by one person alone.

So, the benefits of having a like-minded tribe is clear, but how the heck do you find your people? Where do you start? 

Here are 5 Ways to Find Your Like-Minded Tribe:

  1. Know We Are Everywhere. Personal Development is a multi-million-dollar business. Who is buying the books, watching the TED Talks, and going to meditation groups? There are over 7 Billion people on the planet and you have people in your town, even if it’s tiny, who share your interests.
  2. Be Open. It’s easy to believe that others aren’t going as deep as you because it’s rare to have conversations below the surface. Be careful of the assumptions you make about others.  People surprise me every day. Share some of your experiences as a test. You may not want to freak out your Aunt LuLu who is an atheist with the details of a past life regression session, but you could ask her what she does to stay positive. You might be surprised when she tells you that she’s recently discovered Brene Brown on YouTube.
  3. Stay Curious. Check out local events that sound interesting. Try that Yoga Class. Start a Personal Development Book Club, send a notice on Facebook and see who responds. I recently had a robust like-minded conversation with a cashier at the grocery store who made a vision board joke which prompted me to ask him what was on his board.
  4. Allow Others to Be. Often when we find someone who is like-minded, we get excited, finally … a soul mate.  Then they say something that we don’t agree with and we feel crushed.  It’s not all or nothing with our tribe. We can allow people to be where and who they are and celebrate where we connect and respect where we don’t and achieve great things together all at the same time.
  5. Do You. As you continue to do your personal development work and build your confidence in being your best, you won’t be able to stop attracting like-minded souls to you. What you put out there comes back to you. Before you know it, your tribe of like-minded people will just keep showing up. 

Jennifer Wilson is a Certified Life Coach. Her Powering to Potential approach helps clients rev up their inner potential to reach their goals and life vision. You can learn more about coaching and working with Jennifer by visiting her website www.windleyworks.com She can also be found on Radiofordivas.com daily at 9:15 am for her radio show, Powering to Potential.