January has a reputation and a feeling. Blue and overblown.
The festive mood of December is gone and the weather is moody and our bank accounts and our waistlines are overblown.January is when taxes are due, insurance bills to pay, overdraft to be repaid, and adiet promised to lose the extra kilos. A combination for the strong willed.
And if that is not enough, the temptations to spend more money pursue our tempted mind. Birthdays, sales, Valentine’s, and a “fresh start” of the year trip around the corner.
Don’t panic. Zoom out and recalibrate
First, decide what really matters to you to have a healthy and peaceful life. In this unpredictable world, take note of what determines your peace of mind.
In times of pressure, I found that recalibration helps me set priorities and ease anxiety. I must admit that physical exercise helps me think and clear my mind. Peering into my notebook, I find I repeat myself, in making promises and budgets, lists of must dos and saving wallets. Lists of work projects I want to pursue or must pursue.
Lists of ideas I would love to do, be part of, invest in. The most important investment is in my physical and mental health. Once I get my thoughts in order, I can focus on my finances and the promises I can commit to.
Back in my fifties and my new life as a single mum, I had promised myself to never take on small or big debt (not for me or guarantee someone else’s) as a means of keeping my mind peaceful. I honour that promise. I only spend what I can afford (with a debit card, not a credit card), and if I dip slightly into overdraft I repay at once. Learning to spend what you can afford, is FREEDOM. It means you are content with what you have, and not focusing on what you don’t have, or wished to have.
It is about recalibration on what matters. And to me, peace of mind and freedom from worry is more precious than any material thing.
Preserving cashflow is mastery
One way to achieve peace of mind, especially in January, is to list what you have already spent, what is coming ahead (taxes, dues, insurance, overdrafts) and what might be needed (school fees, a new vacuum cleaner). Clear overdrafts, and save for the next holiday break, which is likely around the corner.
Clarity is power. Budget clarity beats anxiety. What I can promise you is that when you feel in charge of your money, you are in charge of your thoughts, mind, and mood.
January is a survival month. It needs a budget for essentials. Cover the essentials and resist temptations. Quiet weekends, cooking-in days, and home brewed coffees will go a long way for the saving wallets, recalibrating body, mind, and budgets.
Be strategic, tame the temptations, shift your habits. You don’t need to fix everything this month. You just need to get in control.