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      For Your Life January 29, 2025

      Gen Z Smart Money Blog: New Year, New Choices

      Zz03ZTkyNjUwOGJiYzAxMWVmODE1ZDQ2NjljNjk4ZjY2Mw==.jpgBy Abby Hobrough, Old National Bank

      It’s easy to fall into spending traps with impulsive purchases and the endless pull of social media trends, feeling like you need to strive for more. However, financial well-being starts with making intentional choices that align with long-term goals. Use the new year to learn mental strategies and build healthy money habits to improve your finances and feel a greater sense of fulfillment in your life.

      Mindful Spending

      Mindful spending is being intentional when and where you choose to spend your money while making sure it aligns with your goals and priorities. Rather than falling under pressures to overspend and overconsume, take a moment to consider if the purchase will truly add value to your life.

      Ask yourself:

      • How will this make me feel in the long run?
      • Where else could I be spending or saving this money?

      Practicing mindfulness will help you find balance in what you have and your long-term goals. With time, you will distance yourself from the pull of impulsive purchases and trends, helping you focus on what truly brings you fulfillment while lowering your financial and overall stress.

      Practicing Gratitude

      Gratitude fosters contentment if you shift your mindset to abundance rather than scarcity. When you take a moment to find gratitude in what you have, you focus less on what you think you “should” be buying. You can apply this to anything: a house, car, home furnishings, shoes, food, clothes and more.

      Regularly appreciating the abundance in your life – your relationships, moments of joy, financial progress, or possessions – will help you renew a source of fulfillment. Whether it’s daily or weekly, practice writing down, typing, or recalling a few things you are grateful for across all aspects of life. With consistency, gratitude will boost your mental well-being.

      Reducing Exposure on Social Media

      While social media can be a positive space, it can also be a source of pressure when it comes to spending habits and unrealistic success. Brands, influencers and your friends may showcase constant consumption, luxury and instant gratification, making you feel like you are falling behind.

      Do you scroll social media believing more is better? Do you follow others by chasing trends and overspending? Well, beneath the surface, this content may not reflect the financial struggles or sacrifices behind spending their choices.

      If you feel the pressure of consumption and keeping up when scrolling on social media, try reducing your exposure to unrealistic portrayals by unfollowing and scrolling past content. Focus on gratitude and your own financial goals and values. Creating a more realistic feed can free you from the pressures on social media and help you escape thoughts and feelings of comparison.

      New Year, New Approach

      Whatever your financial priority is going into the new year, take time to set short-term and long-term goals, educate yourself and even create a financial vision board. Incorporating mindful spending, practicing gratitude, and reducing exposure to unrealistic portrayals are friendly tools to grow a healthier relationship with your money and improve your mental well-being.

       

      Click here to view our Smart Money Half-Minute videos for young adults starting their financial journey, or to browse our Real-Life Finance library of resources.

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