Financial Self-Care: How to Unlock Freedom Through Mindful Spending

woman in white summer dress standing on beach with arms in the air empowered by financial self-care and financial freedom

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Estimated reading time: 18 minutes

Discover the transformative power of financial self-care with mindful spending and embark on a 3-month journey to financial freedom. Learn how to track expenditures, create a sound budget, and adapt as needed for a harmonious flow aligning with your values.

This blog post is specifically crafted for women who find themselves in a state of transition, whether it be due to life circumstances or a conscious decision to embark on a journey of developing a healthy relationship with money.

It is a compassionate and empowering resource tailored to those who seek to understand the transformative power of financial self-care.

This post aims to inspire and guide readers toward financial empowerment and a renewed sense of self by addressing the unique challenges and opportunities women often encounter. It is a supportive companion for those seeking to embrace their worth, break free from limiting beliefs, and create a life of abundance and well-being.

Make a conscious decision to find balance, abundance, and self-care through conscious financial management today!

Table of Contents


Let me take a moment to share my own personal journey with you.

It’s a story of resilience, determination, and ultimately finding financial stability through the transformative power of self-care. I hope by sharing my experiences, I will inspire and motivate you on your own path to financial well-being.

As someone who understands the challenges of financial management firsthand, I bring a personal perspective to the realm of self-care and mindful spending.

I was a spendthrift for much of my adulthood, viewing money as something transient and elusive.

Financial management was simply a waiting game for payday, followed by impulsive spending.

This toxic relationship with money affected my financial well-being and seeped into my self-worth and overall mindset.

Through my own transformative journey, I have learned the power of conscious financial practices, which have helped me cultivate a healthier relationship with money and, in turn, with myself.

I am passionate about sharing my experiences and insights to inspire others to break free from limiting beliefs and embrace financial empowerment for their own self-care and personal growth.

My Story with Money

A few years ago, my life took an unexpected turn.

I found myself navigating the difficult waters of divorce, drowning in a sea of debt, and desperately needing to regain my footing.

Year One

Year 1 was a year of crisis, filled with uncertainty and financial stress. I knew I had to take control of my situation and rebuild my life.

With hundreds of thousands of debt with a mortgage, two vehicles, and an accumulation of household items, I started to sell everything.

Once the divorce was finalized, the mortgage was cleared, and a small amount was left to resettle in a temporary home.

Year Two

Year 2 was dedicated to cleaning up the mess and seeking a fresh start.

I boldly decided to leave Canada and embrace a job opportunity abroad in China. The company I worked for provided the essential support of covering my rent and utilities, giving me the breathing room I needed to tackle my financial challenges head-on.

Although I was fueled by hope and the promise of getting my financial life on track, the challenge lay in the period between August and December 2019 when it came to traveling to China.

Due to reduced work hours, my income took a significant hit. I found myself struggling to make ends meet while also trying to pay off the last of my debts.

Moreover, I had to save up enough money for plane tickets and apartment deposits in Beijing. All while feeding myself and getting to and from work by public transportation.

To prepare for the move, and survive, I sold my vehicles and the remaining household items. Additionally, I decided to reside in an Airbnb for six months before departing from Canada to China.

I am grateful for the help from friends who stood by me and provided the extra I needed to embark on this life-changing journey.

Year Three

As I entered Year 3, I realized a significant mindset shift was necessary to transform my relationship with money truly.

I embraced a cash-only diet, prioritizing mindful and conscious spending. This approach allowed me to regain control over my finances and break free from the cycle of impulsive purchases and accumulating debt.

With a solid foundation in place, I started planning for my future and investing in myself. I decided to pursue a second master’s degree, simultaneously expanding my knowledge and investing in my long-term earning potential.

Year Four

Year 4 marked a turning point in my journey.

I began building my savings, setting aside funds for emergencies and future endeavors.

Now, life feels good, and I’m filled with a sense of preparedness and confidence.

Through the changes I made and my dedication to conscious spending, I have created a life of financial stability.

My decision to move to a country with a lower cost of living played a significant role, but I firmly believe mindful and conscious spending principles can be applied regardless of where you live or what expenses you have.

I share my story with you not to boast but to show you it’s possible to overcome financial challenges and find empowerment through self-care.

I encourage you to embark on this journey with me, to embrace the process of tracking your expenditures, creating a sound budget, and adapting as needed.

By consciously managing your finances, you can take control of your life, find peace of mind, and step into a future filled with possibilities.

Remember, this journey is personal, and your path will be unique. Stay committed, be kind to yourself, and remember you will achieve financial well-being.

Your dreams are within reach, and by practicing mindful and conscious spending, you will create a life that aligns with your values and aspirations.

Together, let’s take the first step towards a brighter financial future. You’ve got this!

Managing Personal Finances for Self-Care (A 3-Month Process)

It took me about four years to attain financial stability and prosperity, but I accomplished it by following a 3-month process I repeated several times. This approach instilled discipline in me and transformed my outlook on money.

Through personal experience, I’ve developed a straightforward 3-month system for forming new habits centered around mindful spending and finding satisfaction. This process entails monitoring expenses, building a solid budget, and adjusting as necessary.

This 3-month process of managing personal finances for self-care has been nothing short of transformative. It has enabled me to develop a healthy relationship with money, prioritize my values, and build a foundation for a brighter future.

The journey requires commitment and perseverance, but the rewards are immeasurable.

Month 1: Track Expenditures to Take Charge of Your Financial Journey

Welcome to the first month of your financial self-care process!

The first month is focused on tracking your expenditures, taking charge of your money, and uncovering hidden opportunities for savings.

Let’s dive in and start building a solid foundation for your financial well-being.

Get Started with Tracking

Embrace Technology: Several user-friendly apps are available to help you track your expenses effortlessly. Try popular options like Mint, YNAB (You Need a Budget), or Personal Capital (I share a list below). These apps sync with your accounts, categorize expenses, and provide insightful visualizations to help you understand your spending habits better.

Pen and Paper Works Too: If you prefer a more tactile approach, grab a notebook or use a notes app on your phone to jot down every expenditure. The act of physically writing things down helps you stay more mindful of your spending.

Make Tracking a Daily Habit

Stay Consistent: Train yourself to record each and every expense, no matter how small. By doing this consistently, you’ll gain a clearer picture of where your money is going and identify any patterns or areas of concern.

Take Quick Notes: Whenever you use your card, withdraw cash, or make an auto payment, immediately note it down. Even a simple one-line description can be enough to jog your memory later. I use the Notes app on my phone.

Evaluate Your Expenses

Prioritize Your Spending: At the end of the month, review your expenditures and ask yourself, “Does this align with my values and goals?” Identify the expenses truly bringing you joy and enhance your life. Consider eliminating or reducing those that don’t.

Uncover Savings Opportunities: Now, let’s dig deeper! Contact your insurance company, mortgage lender, bank, cell phone provider, and subscription services. Inquire about potential discounts, negotiate better rates, or explore alternative options. You’ll be surprised at how much you can save by making a few phone calls.

Stay Inspired and Engaged

Connect with Others: Join online communities or forums where individuals share their financial journeys and success stories. Engaging with like-minded individuals provides encouragement, support, and fresh perspectives on managing personal finances.

Educate Yourself: Invest time reading books or articles on personal finance and budgeting. Understand different investment options, learn about strategies for debt management, and expand your knowledge to make informed financial decisions.

Remember, this is just the beginning of your financial self-care journey.

By tracking your expenditures diligently, you’ll gain valuable insights and uncover areas for improvement.

Stay motivated, celebrate your progress, and get ready for the exciting steps ahead!

Budgeting and Financial Apps

Here is a list of the apps and programs mentioned, along with their respective website addresses:

  1. Mint – A comprehensive personal finance app that helps track expenditures, create budgets, and manage finances. Website:
  2. YNAB (You Need a Budget) – An app that focuses on budgeting and helps users gain control of their money. Website:
  3. PocketGuard – A budgeting app that tracks spending and helps users manage their money. Website:
  4. Personal Capital – A financial management app that provides tools for tracking expenses, budgeting, and investment management. Website:
  5. Wally – A personal finance app that helps track expenses, set budgets, and gain insights into spending habits. Website:

Please note that the availability of these apps may vary based on your region, and it’s always a good idea to research and explore the features of each app to find the one that best suits your needs and preferences.

Month 2: Create a Sound Budget Empowering Your Financial Future

Congratulations on completing the first month of your financial self-care journey!

Now, it’s time to take the next step and create a sound budget that encompasses all aspects of your expenditures while also leaving room for savings and enjoyment.

Let’s dive into Month 2 and empower your financial future!

Craft Your Budget

Embrace a Holistic Approach: Take a comprehensive look at your income and expenses. Consider all elements, such as rent/mortgage, utilities, groceries, transportation, debt repayments, savings, and discretionary spending. Ensure your budget reflects both your needs and desires. To assist you in getting started, I have included a list of possible budget options below for your reference.

Cash is King: Opt for cash transactions for out-of-pocket expenses whenever possible. By using cash, you avoid debit card fees, credit card interest, and potential fees associated with certain transactions. This way, more money stays in your pocket. I consider myself lucky because I no longer feel tempted to spend on credit since I no longer use it for purchases.

Create Envelopes or Dedicated Accounts

Envelope System: Allocate a specific envelope or a dedicated digital account for various budget categories. For example, have separate envelopes or accounts for groceries, utilities, rent/mortgage, savings, travel, clothing, special occasions, education, electronics, subscriptions, and fun money. I allocate a set amount of money to each specific category in my budget. This approach helps me stay on track, as once the allocated funds are depleted, I cannot spend any more money on that category. Any leftover funds at the end of the month are added to my savings.

Track and Allocate: As you receive income, distribute the funds into the appropriate envelopes or accounts based on your predetermined budget allocations. This way, you’ll have a clear visual representation of where your money should go.

Evaluate and Adapt

End-of-Month Review: At the end of each month, evaluate how well you stuck to your budget. Did you overspend in any category? Did you manage to save more than anticipated? Use this review to adjust and adapt your budget for the upcoming month. Below, you will find some reflective questions to consider when journaling about your relationship with money. This approach has proven to be helpful for me as it allows me to create a narrative and identify areas where I may need to make adjustments.

Prioritize Your Values: Assess whether your budget aligns with your values and long-term financial goals. If you find you’re allocating too much to certain areas not bringing you joy or fulfillment, consider reallocating those funds to categories that align more closely with your priorities.

Stay Mindful and Feel Good

Be Conscious of Fees: Minimize fees wherever possible, as they eat away at your bottom line. Opt for fee-free banking options and review your financial accounts regularly to avoid unnecessary charges.

Celebrate Milestones: Acknowledge and celebrate your progress along the way. As you meet savings goals or make strides in reducing debt, reward yourself with small, meaningful treats or experiences. This positive reinforcement will help you stay motivated and engaged. To celebrate, I jot down my thoughts in my journal and later indulge in a relaxing movie night while snuggled up in bed. I’ll make some homemade pizza and popcorn to enjoy!

Remember, a sound budget is a powerful tool enabling you to control your financial well-being. By incorporating envelopes or dedicated accounts you will manage your money more effectively.

Regularly evaluate and adapt your budget to ensure it reflects your priorities and gives you financial peace and empowerment.

Note: While the envelope system works well for some, others may prefer digital budgeting tools or dedicated bank accounts. Find the method that suits your lifestyle and preferences best.

Budget List Items

When creating a household budget, it’s important to consider various categories and expenses.

While everyone’s budget will differ based on their unique circumstances, here is a list of common items to include when budgeting for a household:

  1. Housing:
    • Rent or mortgage payments
    • Property taxes
    • Homeowners or renters insurance
    • Maintenance and repairs
  2. Utilities:
    • Electricity
    • Water and sewage
    • Gas or heating oil
    • Internet and cable TV
    • Phone bills (landline or mobile)
  3. Transportation:
    • Car payments or loan repayments
    • Fuel or public transportation costs
    • Car insurance
    • Vehicle maintenance and repairs
    • Parking fees
  4. Groceries and Household Supplies:
    • Food and beverages
    • Toiletries and cleaning products
    • Pet food and supplies
  5. Healthcare:
    • Health insurance premiums
    • Prescription medications
    • Doctor’s visits and medical treatments
    • Health savings account contributions
  6. Debt Payments:
    • Credit card payments
    • Student loan payments
    • Personal loan payments
    • Other outstanding debts
  7. Insurance:
    • Life insurance
    • Disability insurance
    • Long-term care insurance
  8. Childcare and Education:
    • Daycare or babysitting costs
    • School tuition and fees
    • Educational supplies and activities
  9. Entertainment and Recreation:
    • Dining out
    • Movies, concerts, and events
    • Hobbies and sports activities
    • Vacation savings
  10. Savings and Investments:
    • Emergency fund contributions
    • Retirement savings (401(k), IRA, etc.)
    • College savings (if applicable)
    • Other investment contributions
  11. Miscellaneous:
    • Clothing and personal care items
    • Gifts and donations
    • Subscriptions and memberships (gym, streaming services, etc.)
    • Home improvement or furniture purchases

Remember, this list is not exhaustive, and you can customize it based on your specific needs and priorities.

Reviewing and adjusting your budget periodically is essential to ensure it remains aligned with your financial goals and changing circumstances.

Month 3: Adapt and Repeat for Cultivating Healthy Financial Habits

Welcome to the third and final month of your financial self-care journey!

By now, you’ve gained valuable insights into your spending habits and have established a solid budget.

This month is about evaluating, adapting, and developing healthy financial habits aligning with your values and needs.

Let’s dive into Month 3 and continue nurturing your financial well-being.

Evaluate and Reflect

Embrace the Comparison: Similar to how we track calories or nutrients in MyFitnessPal to maintain a healthy lifestyle, continue tracking your expenditures and evaluating where your money is going. This ongoing awareness will enable you to make conscious decisions about how you allocate your resources.

Uncover Your Values: As you review your spending patterns, consider how they align with your values and priorities. Are there areas where you can cut back or reallocate funds to better support what truly matters to you? Continuously fine-tune your budget to ensure it reflects your evolving needs.

Stay Committed to Your Budget

Track Expenditures: Even though you have a budget in place, don’t neglect tracking your expenditures. This practice will help you stay accountable and aware of where your money is being spent. Remember, knowledge is power when it comes to managing your finances effectively.

Rinse and Repeat: Stick to your budget and repeat the tracking process for the next three months. Consistency is key to forming healthy financial habits. Celebrate your achievements and identify any areas for improvement as you continue on your financial journey.

Optimize Savings Opportunities

Regular Check-Ins: Every six months, take the time to contact utility and insurance companies to inquire about new promotions or discounts. By staying proactive, you will uncover additional savings and optimize your financial resources even further.

Explore New Strategies: Continuously educate yourself on personal finance strategies and explore additional avenues for saving and investing. Consider options like automating savings transfers, exploring high-yield savings accounts, or learning about low-cost investment options like TFSAs and some mutuals.

Nurture Healthy Financial Habits

Maintain Mindful Spending: Keep practicing mindful spending, making conscious decisions about how you utilize your resources. Regularly ask yourself if a purchase aligns with your values and needs before making it.

Seek Support and Inspiration: Surround yourself with a supportive community or seek guidance from financial experts who will provide advice and encouragement along your journey. Engage in discussions, share experiences, and learn from others’ financial success stories.

Remember, the process of managing personal finances is ongoing and ever-evolving.

By continuously adapting and repeating the established practices, you’ll cultivate healthy financial habits that support your overall well-being.

Stay committed, remain open to learning, and embrace the journey toward financial empowerment.

Reflective Journal Prompts for Financial Security

Here are some reflective questions to journal about during Month Three of the financial self-care journey:

  1. What are my key financial accomplishments and milestones over the past three months? How do they make me feel?
  2. Have I noticed any patterns or trends in my spending habits? Are there any areas where I tend to overspend or underspend?
  3. How have my financial goals evolved since I started this journey? Have any new goals emerged? How do they align with my values and aspirations?
  4. Have I encountered any challenges or setbacks during this process? How did I overcome them, and what did I learn from those experiences?
  5. How has tracking my expenditures and creating a budget affected my overall financial awareness and decision-making?
  6. Have I found a balance between enjoying the present and saving for the future? How am I nurturing both my short-term and long-term financial well-being?
  7. Do I need to make any adjustments or refinements to my budget? Where can I further optimize my spending and increase my savings?
  8. Have I explored additional income or investment opportunities during this journey? What steps can I take to continue building my financial stability and growth?
  9. How has this financial self-care journey influenced my overall sense of well-being and happiness? How do I feel more empowered and in control of my financial life?
  10. How can I integrate the lessons learned from this 3-month process into my long-term financial habits and mindset? What steps can I take to ensure continued financial self-care in the future?

Remember, journaling is a personal and reflective practice, so feel free to adapt these questions or add your own based on your individual experiences and insights.

The goal is to gain deeper self-awareness and use that knowledge to make informed and positive financial decisions.


Managing personal finances is not just about numbers and budgets; it’s an essential aspect of self-care.

By embarking on this transformative 3-month journey of tracking expenditures, creating a sound budget, and adapting as needed, you will cultivate a harmonious flow bringing you joy and financial well-being.

Remember, it’s not about sacrifice alone; it’s about finding balance and embracing an abundance mindset.

Self-care is a holistic practice that encompasses every aspect of our lives, including our financial health.

  • By consciously tracking our expenditures, we gain clarity and control over where our money goes.
  • Creating a sound budget empowers us to prioritize our values and allocate resources to what truly matters.
  • And by adapting as needed, we ensure that our financial plans remain aligned with our evolving needs and aspirations.

It’s important to remember finding balance doesn’t always mean giving something up.

Sometimes, it means making intentional choices to add value to our lives. Approach this journey with a mindset of abundance, knowing you have the power to shape your financial future and create a life of fulfillment.

So, as you embark on this 3-month process of financial self-care, I encourage you to:

  • Let go of any scarcity mindset.
  • Embrace the mentality of abundance and recognize that you have the resources and potential to achieve your financial goals.
  • Believe in the power of conscious spending and its positive impact on your overall well-being.

May this journey be filled with empowerment, growth, and financial success!

Remember to celebrate every milestone along the way, for each step forward brings you closer to a life of balance and abundance.

Happy self-care, and may your financial journey be joyful and fulfilled!

The 3-Month Model for Financial Self-Care (A Recap)

  1. Month 1: Track Expenditures
    • Use an app, pen and paper, or notes to track all expenditures.
    • Prioritize necessary expenses and search for potential savings.
    • Review bills, subscriptions, and negotiate deals to optimize your spending.
  2. Month 2: Create a Sound Budget
    • Factor in all elements of your expenditures, including savings and fun money.
    • Consider using envelopes or separate accounts for different categories.
    • Regularly evaluate and adapt your budget to align with your evolving needs.
  3. Month 3: Adapt and Repeat
    • Continuously track expenditures and review your budget.
    • Reflect on spending patterns, values, and align your financial choices accordingly.
    • Seek out savings opportunities and explore strategies for growth and investment.

Following this 3-month model can cultivate a healthy relationship with money, reduce stress, and increase your overall well-being.

Remember to embrace conscious spending, nurture an abundance mindset, and balance your financial goals and self-care needs.

Let this journey empower you on the path to financial freedom and a life of abundance.

Thanks for stopping by!

Until next time,


We all have unlimited potential.

Hi! I’m Suzanne and welcome to my blog. For more than two decades of teaching, writing, and public speaking, I’ve been inspiring children, teens, and adults to cultivate their potential.

With proven experience and being a published author of conflict management and children’s books, you’ll find practical strategies for personal development.

Most importantly, you’ll discover life lessons for living a fulfilled life.

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