The second installment of my guest post series comes from the lovely Mother Miser. Mother Miser is a relative newcomer to the PF blogging world, but I have already added to her to the list of my favourite daily reads. She lives in Canada and her blog charts her coming-of-age money journey towards living a more frugal life since deciding to stay at home to raise her two young children. This blog is a fantastic read for anyone looking for tips on raising a family on a budget (while retaining your sense of humour!), and anyone else who wants a little daily frugal wisdom in their life. Her guest post looks at how practicing yoga has changed her overall attitude towards money.

Yoga and Money

Most people think of yoga as a physical practice for very bendy people. While this is accurate to some extent, yoga is so much more than an ‘exercise’. It is a way of life and, over the years, its practices and life philosophies have greatly impacted my everyday, including my personal finances.

In my twenties, I traveled and lived abroad for a few years. When I returned home, I started searching for something to ground me. I am not sure if that need was perpetuated by my growing maturity; or if it was because I had been gone for so long and now yearned for physical and mental stability.

The answer I found was yoga. I joined a class and loved it. Over time my practice became more regular and I began to reap a full spectrum of benefits: from increased energy and leaner muscles, to a calmer headspace. After a few years of regular practice, I registered for a teacher training and was certified after eight months of study. It is during this time that I truly identified with yoga as a lifestyle.

Money, and the stress that comes from its management (or lack thereof), can affect every aspect of your being.

Yoga’s main philosophy is that the mind, body and spirit are all connected. Meaning, if one is out of balance, the others will follow. If your mind is stressed, your body and soul are too. Money, and the stress that comes from its management (or lack thereof), can affect every aspect of your being. The answer: simplify!

Santosha, which means ‘contentment’, is one of the integral parts of a yogic axiom. Nowadays, most people always want the next big thing: the newer car, a bigger house, a nicer more expansive wardrobe, or the latest technology. I too am guilty of thinking “if I had this, then I would be happy.” But this type of happiness is fleeting. The minute you attain your most recent material goal, you discover something else you absolutely need in order to feel happy.

Instead, strive to feel content with what you have – no matter how little that may be – and recognize the importance of self-worth. Santosha can free us from the unhappiness of always yearning for things to be different.

So how exactly does Santosha translate into practical personal finance? For one, I try to buy only what I need. I mentally evaluate the necessity of an item by posing practical questions such as:

1. How often will the item be used?
2. Does it have more than one purpose?
3. Is there a cheaper substitute?
4. Will it improve my physical, mental or emotional health?

If I am still unsure whether I should purchase, I walk way and think about it for one week. If I still feel I need it at the end of that week, then I go back and get it. But most often I forget all about it.

And, of course, prioritize your spending. I, for one, do not own the latest fashion items. It is simply not a priority for me. Now, that is not to say that I am still sporting leather-patched sweaters with hideous shoulder pads! It means that I buy items that are classic and I mostly stay away from the trendy. And, friends and I sometimes exchange formal wear for weddings or fancy occasions so that we are not spending a fortune on a dress that will be worn only once.

Basically, yoga affects my finances in that it encourages a minimalist approach to life

When grocery shopping, I only buy what can reasonably be eaten in one week. I do not tolerate food wastage and would rather buy too little and have to return to the store twice in one week, than buy too many fruits and vegetables only to watch them rot on the shelf.

Basically, yoga affects my finances in that it encourages a minimalist approach to life. Before you buy something, ask yourself if you really need it. Too often I have heard the words: “Oh, I bought this but never even used it.” Now that is plain wasteful!

MM

{photo: © J Sparks Photography}