Did you know that it’s Credit Education Week November 13-16th? We partnered with Capital One Canada to learn more about money mindfulness. What a great way to remind yourselves of smart financial habits or to kickstart being more mindful with your money.
Did you know that 44 percent of Canadians believe that their mental health takes a toll due to their financial situation? I’m not that surprised by these stats, especially when living in an expensive city like Toronto, well, it’s safe to say I’ve experienced this toll on my mental health (when you work freelance, finances are often a big source of stress since you can’t be sure when the next paycheque is coming). That stat comes from a recent survey conducted by Capital One Canada and Credit Canada Debt Solutions. And as someone who has lost sleep over money matters myself, these other stats aren’t too surprising either (should I be comforted in that I’m not alone in this?):
- 30 percent of Canadians cite financial stress as a larger worry than their overall health
- Canucks spend 7 hours per week worrying about their finances (sounds about right based on my personal experience)
What is a shocking number, though, is that this actually totals 365 hours a year spent stressing about finances.
So, let’s get this stress under control! Rather than live a life sacrificing vacations, eating great meals out, or even skipping personal grooming due to the cost (all named as cost-cutting measures in the survey), this Credit Education Week, wouldn’t you say it’s a great time to learn some ways to manage your financial stress and get into a good place when it comes to your money? Yes, let’s do this!
I attended a Capital One Money Mindfulness event recently and it included a few different tools to use to be more mindful while also learning financial facts about Canadians. For example, I learned that Millennials are carrying the most unsecured (aka non-mortgage) debt in Canada. There were also helpful reminders that we all know but sometimes forget to do (or simply feel we can’t do because you feel like you’re living paycheque to paycheque), such as aiming to contribute to a savings fund each month. And to help illustrate and drive the point home about how putting aside a bit of money can have an impact, it was an eye opening exercise to spend time actually looking at my lifestyle habits for where I can cut back a bit.
For example, if I were to cut out a daily $3 coffee (but let’s be real, my latte costs $4…) and eliminate $25 weekly of other spending (I probably spend that much if I go out for brunch on the weekend, or if no brunch, I buy random treats like magazines and ice cream throughout each week), over five years, I would save $7,194.
Other key takeaways from the morning spent at the Capital One Money Mindfulness:
- Spend mindfully when shopping. Try to stay on track when you go to the mall or shop online. Get what you need and planned to buy but then stop yourself from adding the extra items you come across.
- Know the details of your financial statements, including paying your bills on time, what the interest rates are, and what you’re paying each month (is it more than the minimum payment?).
- Practice being mindful about your money on a daily basis. Being aware of your money situation every day is what will help you stay on track and reach your goals.
It’s time we stress less about financial matters by practicing smart habits to improve our financial health. I’m going to put some of these tips to practice (starting with putting aside a bit of cash into a savings account each month, I used to and then stopped!). How are you going to practice money mindfulness?
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November 12, 2018
A couple of weeks ago, for Stress Awareness Month, I took part in a Ford Edge mindfulness program (the focus being on how to be a more mindful driver). I met with Ford Canada and yoga instructor, Yumee Chung (who I know from Passport to Prana) and she walked me through a number of ways to be a more mindful driver. Here’s a quick rundown of the tips, so you can bring more mindfulness to your driving:
- Stretch before you drive. Yumee recommends triangle pose to help you get limber.
- Sit in a comfortable, healthy position. The Ford Edge features 10-Way Power Driver and Passenger seats so make use of that to help support your lower back (this was really key to me personally as I’ve been having problems with my lower back the last two months). You want to sit back in the seat with your head, ribs and pelvis in ones line. This stacked position helps keep your back happy and healthy.
- Do a posture check when driving. We all tend to slouch forward when behind the wheel so do a quick assessment of your posture by sitting tall and sending your shoulder blades downwards. Your chin should be positioned so that your earlobes hover above your shoulders rather than forward (and the car’s voice-activated SYNC 3 tech will help make sure you can maintain this posture since you can just say your commands aloud).
- Shake out those wrists. If you find you’re clenching the steering wheel, occasionally take a moment to rotate your wrists and give your hands a shake.
- Practice deep breaths. Traffic can be stressful, which could cause you to breathe quickly and shallowly so try five to 10 cycles of inhaling for a count of 6 and exhaling for a count of 8.
- Use yoga therapy balls to relax your muscles pre-drive. If you’re going on a long road trip, take a quick moment to use some yoga therapy balls to ease any areas that feel tight. You can do this in your seat by placing a ball between the seat and your back at the spot that feels tight and working out that tension.
- Get moving. When you’ve got the car safely stopped, use the time to get your body moving a bit (gently shake your head as though you’re saying “no,” or lean one ear down toward your shoulder and then point your nose in the direction of your armpit (repeat on the other side), or make like you’re a belly dancer and wiggle your spine while seated.
- Do a few spinal twists once you get out of the car after a drive.
- Use the features of the car that help make driving less stressful. The Ford Edge features Active Park Assist (and I know that I find parking one of the most stressful tasks!), and the Blind Spot Information System (BLIS) is another feature that can help you feel more at ease behind the wheel.
Hiking Day 2 at Mono Cliffs Provincial Park
My #FordMindfulness lessons complete, I also got a chance to drive the 2016 Ford Edge Titanium around town over several days to put these tips into practice and to make my life more mindful. I used it mostly to go drive north of the city to go hiking, where the fresh air and peace and quiet was just what I needed, and I finally made my way to the Aga Khan Museum, which is a stunning building (inside and outside) filled with beautiful pieces.
Hiking Day 1 at Cataract Falls
Oh, and you know what makes driving much less stressful for me? The SYNC 3 navigator. I have no sense of direction and even though I went to the wrong mall (don’t ask, haha) at first driving the Ford Edge to go to meet Douglas Coupland for #3Dcanada and also needed to find a great Thai spot for dinner on the way home from hiking, doing these tasks were a breeze thanks to SYNC 3 and I didn’t enter panic mode.
Mono Cliffs Provincial Park
Ford Canada also sent me to practice mindfulness at Float Toronto, a floatation therapy spot where you float in a dark tank of 10 inches of water that’s got 900 lbs of Epson salts dissolved in it, which allows you to float effortlessly. I’d been meaning to check out Float when it opened, but the idea of it terrifies me so I never put much effort into going. I can get panicky and claustrophobic in pitch black darkness. But I decided to push myself out of my comfort zone and give it a shot. The float session lasts an hour, and I spent the first 20 minutes in the tank with the door open fidgeting around (sitting, Snapchatting, etc), and then since Float told me it’d be warmer if I closed the tank door, I closed the door with a towel to keep the tank door open a smidgen for some light, but it was too dark for me, so I opened it up again. The last 25 minutes I did manage to settle down and just lie there floating…but then I got restless so I got out and showered to get on with my day.
In the end, I’m glad I gave float therapy a try and I can see why it’s appealing to so many people. Thank you to Ford Canada for lessons in mindfulness with the Ford Edge Titanium. I know I’ll use these strategies whenever I get behind the wheel now.
On the grounds of the beautiful Aga Khan Museum
May 16, 2016
