Establishing boundaries is important in living a happier and healthier life. For starters, boundaries can help you protect yourself from emotionally draining people or help you build stronger relationships. Limitations are also vital in creating professional relationships founded by efficiency and awareness.
However, there is one area in our lives that some are not so keen to establish. I am referring to the financial boundaries. It is easy to overstep our own financial boundaries and keep making mistakes that will hurt our goals in the long run.
KEEP THINGS HEALTHY
Restrictions go hand-in-hand with creating boundaries. These are most evident in creating a budget. Use this budget to work around your spending, but you have to be gentle with yourself.
Avoid having too many restrictions as you may torment yourself in the process. Holding on to an impossible budgeting standard can lead you to falling off the wagon.
INCREASE YOUR AWARENESS
Everyone makes mistakes. When it comes to finances, I learned this the hard way! Do not get me started with setting up financial limits while traveling! What is important is that I learn from these experiences.
You need an honest and nonjudgmental reflection whenever you cross a financial boundary. Otherwise, hiding your mistakes increases the likelihood of it happening again.
Abraham Lincoln once said, “Give me six hours to chop down a tree and I will spend the first four sharpening the ax.” This is exactly what time spent reflecting on your life is. You need to sharpen the ax in the decision-making process of your financial journey.
GET PROFESSIONAL HELP
Let us face it! Setting up financial boundaries can be tough. This is why some people seek the help of their partners, their trusted friends, or their financial planners. Having a financial planner can help you to make sound decisions with a goal in mind.
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Furthermore, there are several financial planners in Singapore. Make your life easier by searching thru the financial planner directory of Financial Planning Association of Singapore (FPAS). It is a non-profit association dedicated to promoting unbiased financial advice to the Singaporean public.