After two years of stress and tension due to the Corona pandemic, it is time to focus our financial goals on ensuring our happiness.

In a report published by the American Wall Street Journal, writer Anne Targsen said that instead of setting an ambitious financial goal to achieve during the new year, some smaller and smarter goals should be set to make your financial life happier.

And according to an online survey - conducted by the personal finance site Next Advisory last June, which included nearly 3,000 adults - more than half of them expressed great concern about their finances.

The writer pointed to many ways in which individuals can change the way they think about money and reduce stress related to it, such as:

  • Develop a healthier mindset when dealing with money

  • Enhance self-knowledge to better define your goals

  • Make tedious financial tasks and routines more enjoyable

According to behavioral scientists, psychologists, and financial advisors, taking this approach with this type of task makes it more achievable and perhaps more enjoyable than others.

Here are techniques that will help you achieve the greatest happiness in your financial life.

focus on yourself

Studies show that the higher the income, the greater the happiness, but according to a study published in 2010, it was found that once an individual's income reaches 75,000 dollars, the increase in money does not have a significant impact on his happiness.

Part of the problem is the fact that as incomes rise, people start comparing themselves to their new peers, explained Sonia Lyubomirsky, a professor of psychology who studies happiness at the University of California, Riverside, and one way to enhance happiness is to analyze and understand what matters to us and not others. .

Don't waste time

Professor Lyubomirsky emphasized that finding any way to create more free time can enhance feelings of happiness, and ways to save time in the financial life include billing and savings automation.

If you have multiple financial accounts, it's best to consolidate your assets into just one of each type, so you have less data to track, according to financial advisor from Palos Heights, Illinois, Rorik Larson.

Experts also advise not to check your account balances more than once a month or every 3 months.

Dan Egan, Vice President of Betterment Investments and Financial Conduct, advises stress-free budgeting;

By eliminating the constant monitoring of spending processes that can be tedious.

For example, Egan and his wife send their paychecks to a joint bank account that automatically pays recurring bills, including a mortgage, and the couple also automates transfers to sub-accounts for emergencies, new car purchases, and vacations, then share what's left so they can Each of them spend the surplus as it sees fit.

Develop a stress-free budget by eliminating the constant monitoring of spending processes that can be boring (Shutterstock)

Minimize differences

Couples can reduce tension by following the Egan method and allocating some money in their budget to spend independently. The goal of this method is to allow each party to spend a certain amount within agreed limits without any criticism from the other party.

Usually some couples spend from a joint account, but Egan and his wife chose to split the rest of their paychecks after all expenses have been paid, which makes separating individual expenses from joint expenses easier and reviewing statements less time-consuming.

Be confident in yourself

Sarah Newcomb, a behavioral economist at Morningstar, recommends that we rate ourselves on a scale of one to 10 on “whether we feel we can handle any financial circumstance we might face.”

On this scale, one indicates pessimism and 10 indicates optimism. Regardless of income level, Newcomb found that people who gave themselves a score of 5 and above were more satisfied with their finances than those who scored lower.

Newcomb said that resilient people generally focus on the things they can control, such as the value of their savings, rather than on what is out of their control such as stock returns. worried.

Egan stressed the importance of reminding yourself of your financial accomplishments, such as paying off a credit card balance or a down payment on the house, while others advise being grateful for what you have and forgiving yourself for mistakes.