7 Tips to Successful Money Management through Mindfulness

Have you had any of the above sentences said to you? If yes, this article is for you.

- RUPA MEHTA

"Money doesn't grow on trees!"

"When you start earning, you will understand the value of money!"

"A penny saved is a penny earned!"

Mindfulness about money is not just awareness about the money that you have. It revolves around your emotions, actions, beliefs and thoughts related to money, too. Do you get stressed every time you think about money? Or do you truly believe that whenever you need money, you will manage to get it from someone? Change your thoughts about money by thinking positively and bring abundance to yourself.

Here are 7 tips for teenagers that teach mindfulness about money:

1 Budget

How to: Whether you are getting pocket money or earning a salary at a part-time job, budget your expenses. Decide how much you will spend on various types of expenses and stick to those budgets. For example, decide on a certain amount of your earnings for food, travel, clothes, gifts for friends, etc. This ensures that you don't go overboard on any one category. Identify your discretionary spending, such as entertainment, eating out with friends, etc. Set a certain amount or percentage that you will spend on discretionary spending and don't go over those self-imposed limits.

2 Save