Ever heard of the mind-money connection? You’ve definitely experienced it at least once in your life. While money can’t buy happiness, so they say, our financial habits play a huge part in our mental health. Start creating a positive relationship with money and you’ll also take care of your mental health.
Start saving today
Constantly worrying about your financial responsibilities and what to do in an emergency takes a serious toll on your mental health. Money stress has even been linked to depression. Setting aside a little money every month helps protect your mental health. Opening a savings account and regularly contributing to it is the easiest way to take control of your mental health. If you’ve never had a savings account, start small with an R100 debit order the same day you get your salary paid.
A debit order is key because you won’t miss the money if you never see it!
Be smart about your money
Specific. Measurable. Achievable. Relevant. Timely.
It’s easy, we promise. Being SMART is all about setting yourself realistic financial goals. Be specific and practical.
❌ Don’t say you want to save enough money to buy a house.
✅ Rather say you need to save R5 000 p/m for 5 years to put down a 50% deposit for a 1-bedroom apartment in the Northern suburbs.
Having a clearly defined goal reminds you of what exactly you’re saving for and the closer you get to that achieving that goal the better you feel. Sign up to Multiply Money today and start your savings journey.