Whether or not yoga is your thing, you’re probably familiar with it. The practice of yoga has become popular enough that most people know what it is, but I bet you didn’t ever associate it with financial planning.
Here are some core principles of yoga that relate to a disciplined financial plan:
Balance Is central
How is your financial posture looking? Are you on tip-toes or do you have a stable foot on the ground?
Balance is about asking yourself if you are leaning more in one direction than another. It is a comparison. Are you spending more than last year? Are you saving enough now to provide for the future?
Preparation is key
If you don’t properly prepare, you’ll hurt yourself and hamper your ability to progress in the long term.
A good yoga teacher (read financial advisor) will prepare you for what is coming, both in the present and in the future.
Flexibility Is crucial
Most people who practice yoga, or budgeting, regularly see an increase in their flexibility.
Financial flexibility has to do with your ability to change how you spend based on your current circumstances. If you empty your emergency fund because your car breaks down, can you flex for a few months until the fund is replenished?
Mindfulness will help you reach your goals
Mindfulness is the basis of most meditation, and in simplified terms it means to focus one’s awareness on the present moment.
More than anything else, mindfulness is a path to self-mastery. It allows you to not be a slave to your emotions and to, for example, stick to a budget. Too often we will be swayed by impulsive thoughts that cause us to cheat on our diets or splurge on unnecessary purchases. If you are always aware of your goals and the reason that you are pursuing them then you will be able to achieve them much more easily and with much more determination.
Keeping to your financial plan is always a stretch – be balanced, be prepared, be flexible, but most of all – be mindful.
Bending over backwards for debt? Let’s get in touch and balance that out for you!