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Here’s how to be careful with your money

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Americans have been stressed and worried about money lately. According to healthy lifestyle expert Deepak Chopra, mindfulness can help.

According to the CNBC + Acorns Invest in You survey by CNBC + Acorns Invest in You, about 52% of US adults are experiencing more financial stress than they did a year ago. Momentary. The online survey was conducted March 23-24 among a nationwide sample of 3,953 adults.

“A lot of people are fed up, frustrated, depressed, stressed out,” said Chopra, founder of The Chopra Foundation and Chopra Global.

This stress, in turn, can cause inflammation in the body and weaken the immune system, he added.

While meditation, comedy, and music can help you unwind, being mindful of money is a good way to take control of your financial life.

Mindfulness is “a state of active, open attention to the present.” Psychology today. Applying mindfulness to your finances means that you are essentially paying attention to your money and being present with your money.

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For Chopra, the most important thing to know about money is pretty simple: don’t buy things you don’t need with money you haven’t earned to impress people you don’t like. It will create stress in your life, he said.

“Our culture is so used to being in debt,” said Chopra, who recently released his 92nd book.Abundance: The Inner Path to Wealth.”

To be sure, the average household with debt owes $155,622, according to NerdWallet Research. The study found that those with credit card debt owe an average of $6,006.

Instead, you should watch what you spend and try to save about 10% of what you earn,” Chopra said. This is what his mother taught him many years ago.

“He has served me well all these years,” he said.

“So be a little frugal during these times,” Chopra continued. “Ask yourself: “Do I need this?” or “Do I want it?”

“You know, wants and needs are two different things.”

When it comes to investing, try not to get emotional, he said. The stock market, after a dull January and February, bounced back in March. While April has historically been a strong month, market watchers expect some volatility this quarter.

“People get nervous, over-dramatic and make very irrational decisions,” said Chopra, board member of CNBC Invest in You Financial Wellness.

“So just be patient and don’t make irrational decisions.”

Also, take care of yourself both physically and mentally. If you get enough sleep, maintain healthy relationships with friends and family, exercise, and meditate, your ability to achieve financial success spontaneously improves, he says.

Most importantly, keep things in perspective.

“If at the end of your life you say, ‘I made a lot of money, but I wasn’t happy,’ what’s the point?” Chopra said.

“Joy should always be the #1 priority, followed by everything else,” he added. “It’s called a top-down approach, not a bottom-up approach.”

REGISTER: CNBC + Acorns Invest in You: Done. Kit. Grow. is hosting a free virtual 5k from April 11th to 18th. Click here to sign up and get motivational money tips from Deepak Chopra.

REGISTER: Money 101 is an 8-week financial freedom training course delivered weekly to your inbox. To view the Spanish version of Dinero 101 click here.

Disclosure: NBCUniversal and Comcast Ventures are investors in acorns.


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