Avoiding The Money Savings Burnout

Money Coaching Christina Cabrera

Feeling burned out?

I often see women who have a bad taste in their mouths from saving every cent they make to put toward bills or into the bank. That’s very restrictive and I wouldn’t much like having no spending money either! It can lead to burnout, which I’ll tell you more about in a bit.

Instead, I encourage you to think a bit differently about how you manage your money. It’s not an all or nothing thing, at least not if you want to stick with it over the long run and see financial gains personally.

You’ve go to stop yo-yo-ing.  It’s a bit like Yo-Yo dieting.

It’s a mentality that cannot be sustained in the long run.



A Yo-Yo Mentality

What does a yo-yo have to do with anything? If you go all-in and save, save, save, work, work, work, you’re probably going to reach a crash and burn stage at some point. That’s because you didn’t give yourself any time to breathe.

And if that happens, you will likely give up saving all-together for a while, losing your motivation. While you likely will return to saving again over time as you get your energy back, the time without saving anything just took you back a bit money-wise.

Not only that but you also just lost a bit of freedom. While money doesn’t buy you everything, it does make doing what you like a bit easier as vacations and other fun things cost money.

Now you see how this whole start-stop mentality can be likened to using a yo-yo. And how that habit disadvantages you.

Balance is Better

Sure, you keep putting yourself through the start-stop pattern but that’s exhausting emotionally. Plus, your long-term financial goals will start and stop, which isn’t great for reaching them.

Instead, here’s what I recommend to my clients. Balance your financial approach.

By that I mean to save money but not ALL household income. Don’t get me wrong here, I want you to save toward retirement and other objectives. But hear me out.

You must stop and have some time to rest, for your mental health. As well as for the sake of your family. Put a small amount each month toward spending cash on “feel good” stuff like outings with your family on weekends.

Exactly what activities to spend the allotted money on will vary by person to person. But I urge you to keep it within a certain amount each month and stick to it. Otherwise you risk getting off-budget and I don’t want that for any of you.

Over to You

Are you on a financial yo-yo? What are your thoughts on the balanced approach mentioned above?

What do you do to keep yourself from burning out?