We are in a season marked by heightened emotions and stressors like election outcomes, year-end work reviews, holiday gatherings, and Christmas planning.
Prioritizing self-care is important now more than ever for our mental, physical, and emotional well-being, and prioritizing it as part of our finances is essential not “extra.”
One of the best things I ever did 10 years ago, when I was working towards financial independence and becoming more intentional about my finances, was creating a monthly massage budget. It's still an essential part of my financial planning today. More recently, we've included therapy sessions into our family financial planning, and even though we don't always need it, we've used it on various occasions (including grief counseling) without the added worry of how we'll pay for it.
Self-care routines—whether fitness classes, friendly gatherings, therapy sessions, or just time for yourself—can help you heal, recharge, maintain balance, and stay motivated. With a mindset shift from "extra" to "essential" and thoughtful planning, you can prioritize wellness within your financial plan, ensuring you’re not only working toward future goals but also caring for yourself along the way.
You don't have to make drastic changes! Here are six simple steps to get started. The beauty of these steps is they are flexible! They can be modified to fit your current situation or evolve as you evolve.
1. Identify the Self-Care Routines That Matter Most to You
Self-care isn’t one-size-fits-all. For some, it’s a weekly yoga class, for others, a monthly therapy session or even travel. The key is to identify the self-care activities that genuinely help you recharge and feel more centered, rather than trying to fit into common trends or expectations. Once you know what supports your wellness, you can budget intentionally, focusing on what makes the biggest impact on your well-being.
Actionable Tip: List your top self-care practices and categorize them by frequency (weekly, monthly, or quarterly). Estimate the costs for each, then see where they might fit in your current budget. Understanding how often you engage in these routines gives you clarity on how to plan financially to make them a sustainable part of your life.
2. Incorporate Wellness Goals into Financial Planning
Just as you set financial goals, setting wellness goals can keep you focused and motivated. Maybe your goal is to complete a mindfulness course, join a fitness program, or attend a retreat in the coming year. Including these in your financial plan brings them into view, helping you prioritize and prepare.
Actionable Tip: Write down wellness goals for the next six months or year and estimate the cost of each. Include these goals in your broader financial plan, so you’re setting aside money over time. Whether it’s a one-time experience or ongoing membership, you’ll be better prepared to fund these goals and enjoy them fully.
3. Create a “Self-Care Fund” as Part of Your Budget
A dedicated self-care fund makes it easier to invest in wellness without feeling like it’s a “splurge” or an afterthought. Just like you have an "Emergency Fund" for emergencies, a self-care fund for your mental, physical, and emotional well-being is essential. This fund can cover anything from a gym membership or therapy session to an annual retreat.
Actionable Tip: Start with a small, regular amount, like $25-$50 per paycheck, to fund activities that enhance your wellness. Automate this contribution if possible, so it becomes as regular as any other essential expense. Over time, this dedicated self-care fund allows you to enjoy wellness routines without guilt or budget strain.
4. Create a Self-Care Buffer for Unexpected Wellness Needs
Life has its stressful moments, and sometimes you need extra self-care support—whether it’s an additional therapy session, a spontaneous day off, or an impromptu massage. Having a self-care buffer allows you to handle these needs without guilt or overspending, maintaining flexibility for unplanned wellness moments.
Actionable Tip: Build a small buffer fund (around $200-$500) for unexpected self-care needs. This might come from any “leftover” money in your budget or a small monthly contribution. By having a buffer, you’re able to respond to unexpected wellness needs without feeling like you’re straying from your budget.
5. Budget Time Alongside Money
Time is just as valuable as money when it comes to self-care. Making room in your schedule for wellness routines is essential, especially if you’re balancing a busy career or family life. Financial freedom is ultimately about the freedom to use both your time and resources intentionally, so choosing to spend time and resources on your self-care is aligned with your pursuit of financial freedom.
Actionable Tip: Treat self-care time as a non-negotiable part of your schedule. Try setting aside specific days each month for activities that require a time commitment, like therapy sessions or a regular exercise class. This ensures that you’re budgeting your time as intentionally as your money, making it easier to follow through with wellness plans.
6. Track and Celebrate Your Self-Care Wins
Just as you track financial progress, tracking your self-care routines can help you see the value they add to your life. Each time you prioritize wellness, you’re making an investment in yourself, and recognizing these moments reinforces that self-care is an essential part of your financial plan—not an “extra”.
Actionable Tip: Consider journaling about how each self-care activity impacted you, whether it improved your focus, reduced stress, or brought you joy. This reflection helps reinforce the positive impact of self-care and reminds you that it's a worthwhile financial priority.
Conclusion
Your overall well-being is important. Prioritizing self-care activities that help you recharge, heal, and refocus and including them in your financial planning is essential not "extra." You don't have to make drastic changes because these six steps are adaptable and evolve with you.