Being Thankful

Thanksgiving – this season when we pause to be grateful – can become so much more than a day in which we gather with loved ones to enjoy each other’s company and share a wonderful feast. If we take it further, thanksgiving, or gratitude, can become an underlying attitude that helps us see our options and opportunities all year ‘round. That can have a big impact on our finances.

Feeling gratitude causes us to focus on what we have, rather than what we don’t have. As we deal with our finances and try to make choices about the best uses of our money, being mindful of and grateful for what we already have makes it easier to:

  • Say “no” to impulse or unnecessary purchases
  • Set money aside for future needs (including college, retirement, or other long-term goals)
  • Build an emergency fund
  • Give to worthwhile charities

Pausing and reflecting with gratitude on our possessions, and on the people and experiences in our lives, makes it easier to be satisfied.  Being satisfied makes it easier to put our money toward important uses rather than being distracted by spending opportunities with only short-lived value.

Gratitude helps us see ways in which we have more than a “bare minimum” existence – having freedom to choose how to use our money is definitely something to be grateful for. That includes small freedoms, like being able to add ice cream to our grocery cart, and bigger freedoms, like the ability to travel to see loved ones, or to provide music lessons for our child.

If you’re interested in taking your gratitude to a next level by sharing your abundance with causes important to you, stay tuned for next week’s post related to “Giving Tuesday.”

Note: freedom of choice is an essential element of financial well-being – learn more about financial wellbeing here or take the financial wellbeing quiz.

Barb Wollan

Barb Wollan's goal as a Family Finance program specialist with Iowa State University Extension and Outreach is to help people use their money according to THEIR priorities. She provides information and tools, and then encourages folks to focus on what they control: their own decisions about what to do with the money they have.

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Gratitude

Thank youDuring this holiday season, many of us experience a lot of gratitude.  We receive gifts, we enjoy the beauty of holiday decorations and light displays, we sing along to holiday music, we enjoy special foods that we only make once a year.  We even send thank you notes to express our gratitude.

I encourage you to focus your attention on feeling and expressing gratitude during the holidays.  One reason, of course, is that it’s a happy feeling, and it’s also a matter of courtesy to feel and express gratitude to those who share gifts with you.

But there’s another reason why I think gratitude is important.  Feeling gratitude causes us to focus on what we have, rather than what we don’t have.   As we deal with our finances and try to make choices about the best uses of our money, being mindful of and grateful for what we already have makes it easier to:

  • Say “no” to impulse or unnecessary purchases
  • Set money aside for future needs (including college, retirement, or other long-term goals)
  • Build an emergency fund
  • Give to worthwhile charities

Pausing and reflecting with gratitude on our possessions, and on the people and experiences in our lives, makes it easier to be satisfied.  Being satisfied makes it easier to put our money toward important uses rather than being distracted by spending opportunities with only short-lived value.

What are you feeling grateful about?

Barb Wollan

Barb Wollan's goal as a Family Finance program specialist with Iowa State University Extension and Outreach is to help people use their money according to THEIR priorities. She provides information and tools, and then encourages folks to focus on what they control: their own decisions about what to do with the money they have.

More Posts

    

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