Your Money Happiness Is A Really Big Midlife Event
Hi Reader,
A colleague entering midlife felt she was behind her peers financially. She had a good job, a family, and a home.
She experienced a few money hardships that casted a dark shadow over her finances. The chance of her being happy at midlife was in jeopardy.
If you are in your 40s or 50s, midlife events can feel overwhelming. This period in life is called the midlife crisis.
I like to use a baseball term and label it as midlife “slump”. You are not performing at your best.
In your slump you are likely to struggle with your identity and self-confidence. A new health diagnosis, job change, divorce, money difficulty can trigger your struggles.
Also there are many other events that may cause your slump.
The medical community says, a midlife crisis isn't considered a true medical diagnosis. It is where you have a difficult time adapting to something new and stressful.
When you’re stressed about money, it’s easy to avoid dealing with it. My colleague used to ignore her bank statements and credit card balances.
She thought if she didn’t see it, it wasn’t real. People cope with major changes in many ways.
Here are some tips to pull yourself out of your midlife slump.
Tips to Achieve Midlife Money Happiness
Take your time – It will get better with time. It takes time to find your happiness. Be patient and be kind and understanding to yourself.
Try something new – Picking up a new hobby or getting back into an old one can bring you joy and excitement. It is good to think through your decisions. Picking an extreme hobby or doing something too new to you could be unhealthy or reckless.
Face your finances head-on - Sit down and look at your money situation. Listed all your debts, expenses, and income. The truth can be scary, but it’s the first step to taking control.
Take care of yourself - Take care of your body. Exercise, engage in yoga, or try mindfulness. Commit to getting enough sleep each night. Eat a well-balanced diet. A healthy body helps promote a healthy mind.
Take stock of your accomplishments - You may be feeling down in the dumps during your midlife slump. Take time to look back at what you have accomplished to date. Focus on the joys you have in your life and what you still can do.
Create a spending plan - Track your spending and look for areas where you could cut back. It won’t be easy, but it can make a big difference.
Acknowledge your feelings and emotions - Recognize it's okay to feel hurt. It's okay to feel angry and upset when something doesn't go as planned.
Stay Flexible - Life changes, and so do your financial needs. Be ready to adjust your plan. Being adaptable helps you stay in control, even when unexpected expenses come up.
Regular Check-Ins - Make it a habit to check in on your finances regularly. My colleague and her spouse now have monthly budget meetings. It helps them stay on track and adjust their plan as needed.
Money happiness is a big deal, especially in midlife. It’s not about having more money; it’s about feeling secure and in control. Take steps to manage your happiness.
Peace of mind, better relationships, and financial security is closer than you think. So, take that first step today, and find your own path to midlife happiness.
🎓What I Have Learned
People may call what’s happening at midlife a crisis. But it’s not. It’s an unraveling - A time when you are challenged to let go of who you think you are supposed to be and to embrace who you are. Brené Brown
📝Knock out these money-related tasks now to help you finish the month strong.
- Be aware of lifestyle inflation. This is the tendency to spend more on discretionary purchases when your standard of living improves.
- Explore how you can retrofit your home for more energy efficiency and need less electricity for cooling.
- Review your credit cards unrecognized transactions and unwanted subscriptions.
📖Money IQ - Your chance to gauge your money knowledge
IQ Question - What does APR stand for?
A. Annual penalty rate
B. Annual percentage rate
C. Applied percentage rate
D. Acutely painful responsibilities
📢Testimonial
“It was a very productive session & I’m very happy with the progress so far.
I got more out of our meeting than expected. As I shared with you I'm very insecure regarding my finances and so our sessions are extremely therapeutic. I felt as if for the first time I was being heard. I feel much more confident now about resolving my challenges versus hiding.” M.L.
🔶You don't have to keep stressing. If deep down you know that you are not happy with your money, book a call today.
FREE 30-minute "Squash Your Stress"
Thanks for reading this far.
Thanks for your time and kindness .
Stay wise and healthy.
Celebrate.
