Heart, Mind, and Sole: 3 Steps to 3D Luxurious Living

14 May

(this blog originally appeared on  http://www.blogher.com/three-steps-luxurious-living

How do you define luxury?

5 star vacation?  Cashmere?  Jimmy Choo’s?  For me it’s flea market jewelry.  Chances are, we all have something.  The question is:

Can you afford your defined luxury?

I know luxury is typically defined as an extravagance or indulgence.   Yet all this ‘stuff’, including a great pair of shoes, doesn’t add to happiness.  The thing is we may want luxury, and we need financial security.  Especially for the long term.

Gold:  fools or real?

Gold: fools or real?

Here’s a fact: 

Luxury is NOT about money.

Here’s another fact:

Size (of your paycheck) does NOT matter.

Hmm.  Maybe we just need to redefine luxury.  Imagine having all your needs met.  How does that feel?  Imagine this life as the ‘new normal’.    Your life filled with what is most important to you focuses on values.  This is luxury you can afford.

What's growing on your money tree these days?

What’s growing on your money tree these days?

Talking about money is personal – and uncomfortable.  But money is important for security and comfort.  It helps you be your best.  You have to believe you deserve that.

Current statistics about single women and finances show we are not at our best.  For starters, only 35% of single women have a retirement account.  And of those who do, 57% have less than $20,000 saved.  The ‘new normal’ means we learn to be financially independent regardless of where we are and our relationship status.

Is your financial relationship where you want it to be?

I’ve come up with 3 ways to view luxury for building a healthy financial relationship:

  • Heart luxury is all about quality relationships, including with money.
  • Mind luxury is using your skills and talents in work and play.
  • ‘Sole’ luxury is having only quality ‘stuff’ you can touch, feel, or walk in.
Luxury should keep your heart pumping!

Luxury should keep your heart pumping!

These 3 types of luxuries are meant to guide you personally, professionally and financially and lead you to action.

Grab a notebook and apply them in these 3 steps for luxurious living:

1.  Take inventory of your assets. 

  • Start with ‘sole’, and take stock of all your ‘stuff’, daunting as that may be.
  • For heart, make a list of the types of interactions you have with others.  Don’t list out names of people.
  • For mind, write out the types of actions and tasks you do regularly in your job and your life.

2.  Evaluate your ROI (Return on Investment)

Everything has a value or cost, not just ‘sole’ luxuries.

  • Go through your lists, and highlight each item, interaction, or task that feels good and adds indulgence to your life.
  • Put a red line through all items or interactions that drain you or makes you feel bad.

3.  Cut your losses, Bolster your gains

  • ‘Stuff’ that weighs you down makes you feel poor.  This is not the ‘new normal’.  Starting with your ‘sole’ items, get rid of things that don’t feel extravagant or luxurious – regardless of the cost.  Take a picture of things you get rid of.  It will remind you of what you don’t need.
  • Now look at your heart and mind lists.   The plusses are true luxuries.   These add value to your life.  These are what you want more of.

Over the next month, keep track of what adds to your heart, mind and ‘sole’ through these 3 steps.  Take note of what makes you smile.  These are the things that will keep you on track financially.

Keep track of heart, mind, and sole luxuries for success and focus.  www.123rf.com

Keep track of heart, mind, and sole luxuries for success and focus. http://www.123rf.com

In months to come I’ll share specific strategies to balance your heart, mind, and ‘sole’ with your money.   You’ll identify your values and communication style and learn how these can help you decrease debt, save money for retirement and other goals.  They will also help you talk with partners about money.

What is your greatest money concern?

 

How does your finances affect your personal and professional life?

 

What would you like to learn to be financially independent?

 

Share specific questions or concerns about your finances and I’ll address them here.

Advertisements

Share your thoughts or ask a question!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: