Yoga and finances? What do the two have in common? It turns out that many of the same principles used to develop a healthy and sustainable yoga practice can also be used to create a stable and durable financial plan. Incorporating some core yoga tenets into your financial life can help you create not just a more balanced lifestyle, but a more peaceful financial situation.
Lesson #1: An Instructor Guides, But You Are Your Best Teacher
When you attend a yoga class, you are under the watchful eye of an experienced instructor. This individual has undergone advanced training in anatomy pose sequencing and other yoga essentials. The instructor may know more than you, but you know your own body best. This same principle applies to your financial planning.
Many people choose to work with a professional financial planner to help them get their finances on track. A financial expert will know how to create sound investment strategies and craft a solid portfolio, but he or she will not be familiar with your top financial priorities. You must work together to find a financial plan that is both successful and well-suited to your lifestyle.
Lesson #2: Start Slow and Be Consistent
As awesome as it would be to move effortlessly into a headstand on the first day of your yoga class, the odds of achieving this are minimal. You need to put in the time and effort to prepare your body for such a rigorous pose. You should also start slow when it comes to your financial planning.
You will be given a lot of information by a financial planner when you first meet to discuss your future goals. Don't become overwhelmed with this overview. Start with one critical task (like setting up a savings plan or establishing an IRA account) and master this task before moving on. Starting slow and maintaining consistency will ensure that you reach your financial goals with as little stress as possible.
Lesson #3: Don't Compare Yourself to Others
The person on the mat next to you in yoga class may have a lithe body and a perfect downward facing dog. If you start comparing your practice to theirs, you could become disheartened and lose your motivation. The same is true for financial planning.
You should never compare your financial situation with anyone else. Each individual has a different financial past, financial obligations, and future goals. It is impossible to compare your situation to another's while taking all these varying factors into account. Compare your progress from one quarter to the next as a means of determining your financial success.
To learn more, contact a local fee-based financial planning service today.