Why Tori Dunlap Says Looking at Your Finances Is Self-Care

Choosing a self-care activity? Managing your finances counts.

Tori Dunlap is a financial guru and social media influencer who shares personal finance knowledge through her brand, Her First $100K. She has helped millions of women improve their financial situation with her guidance.

Her podcast, Financial Feminist, is one of the many free educational resources she offers. In episode 11, Tori explains why looking at your finances is a powerful self-care practice. Find out why you should make time to review your finances and what steps you should take.

What is self-care?

The episode begins by discussing self-care. Self-care is a popular phrase in today's world.

Typically, when we hear about self-care, we think of more glamorous or indulgent self-care practices like planning a spa day or treating ourselves to a cocktail or glass of wine.

While those kinds of self-care tasks can be nice to do, Tori notes that these examples are more self-soothing activities designed to make us feel better in the moment.

She goes on to explain that other self-care tasks -- particularly ones that aren't glamorous and may feel uncomfortable -- are just as important. Why? Because they may be necessary to make positive changes in our life.

We should make time for difficult tasks that can make our future better. Some examples of harder tasks we might do for self-care include making significant health changes, having difficult conversations with the people we love, and going to therapy.

Make time for difficult self-care tasks, too

Another example is taking time to assess your money situation regularly. One way to do this is to have money dates with yourself and your finances. Tori recommends making time to do this at least once a month.

If you're solo, you can do this alone. But if you and your partner share finances, you should have money dates together, so you're both on the same page.

How to take yourself on a money date

Looking at your finances is essential. It will be hard to make informed decisions and reach your financial goals if you don't. If you're new to the idea of a money date, Tori suggests taking the following steps:

1. Examine your credit card statements and review your purchases. As you look at your credit card statements, check for forgotten subscriptions, errors, and ask whether each purchase you made is something you value.
2. Look at your account balances. Figure out how much debt you have and what your savings, investment, and checking account balances are so you know where your finances stand at the current moment.
3. Set money goals. Set specific, actionable money goals so that you can work towards them. You can set short-term and long-term money goals. Don't be too vague, and be realistic about the goals that you set.
4. Find ways to make positive changes. Figure out what you need to do to optimize your finances and succeed. This may mean opening a new financial account, developing better habits, or using new financial tools to your advantage.

If the idea of a money date feels uncomfortable, you're not alone. Tori recommends getting creative to make the experience more enjoyable. You can make it fun by ordering your favorite takeout or enjoying a treat while you handle your financial matters.

Don't ignore your finances

If you want to make changes to your life, you must not ignore your financial situation.

Being proactive and having regular money dates may help you have more success. You'll be able to see what you need to do to make your goals happen sooner.

It's never too late to make positive changes that improve your financial situation. For additional tips and guidance, check out our personal finance resources.