Would you take financial advice from a yoga instructor?
In a Sydney Morning Herald article that mentions her business aimed at helping women do more financial planning, Lea Schodel, an Australian yoga instructor and financial planner says something very important:
“Women are so willing to invest time in yoga, pilates and other forms of self-care, but they don’t realise how much financial stress can undermine all that,” she said.
You may be thinking that you need the yoga class to relieve the stress you feel about making ends meet and while we wouldn’t deny you that, would you also consider finding ways to alleviate your financial burdens?
While she said she doesn’t use yoga terms when she works with financial planning clients, Schodel did say that she specializes in advising people using “principles of wellbeing, mindfulness, neuroscience and sustainability.” She makes an excellent point—while everything doesn’t transfer, you can use the principles from hobbies, pastimes and other practices in your financial life.
When we recommended reading the book Happy Money, we noted that the book does say that people may feel better when they use money to pay for experiences rather than things. You may think of investing time in exercise classes as just that—paying for an experience that you will enjoy. However, your enjoyment may be tempered if you are concerned about spending money to do the very thing that you think will relieve stress.
We are not saying to quit yoga, dance, or exercise. What we are advocating for is financial planning so that of all things that may cause stress, your financial outlook is not one of them.
Why not work with a Fee-Only financial planner? Once you have a plan for your financial life, you may feel a lot better about the money you do spend on experiences you enjoy. You won’t feel any guilt that perhaps you are overspending or worry over whether you later will have serious regret over a purchase.
Image credit: https://pixabay.com/static/uploads/photo/2014/11/25/08/27/yoga-544970_960_720.jpg