Can Mindfulness Mix with Money? Yes, It Can
December 15, 2020 (Investorideas.com Newswire) Mindfulness and money aren't usually two things you would pair together, however, they actually work hand in hand. Mindfulness isn't just Buddhas, meditation, and intense breathing exercises, it is so much more. It is a way of simply 'being'.
Mindfulness is all about being aware, awake, and conscious of the things, emotions, and moments happening all around you at the present moment. It is essentially the moment that your brain decides to fully connect and attend to what is happening around you, what you're doing, and the life you're swiftly moving through.
That is why, paired with money/investing, it is the perfect remedy. Using mindfulness to make better investing decisions is a beneficial and even unique way to handle your emotions. The volatility of investing can bring you stress, worries, impatience, and raw emotion, after all, you are standing to lose your biggest asset (money). Luckily, mindfulness is a way to handle this effectively and turn those emotions into power.
Mindfulness can provide you with a way to handle the emotional turmoil that comes along with investing and even completely rid yourself of the worries associated. When you invest with mindfulness, you invest with great success and serene peace of mind.
It will help you stay rational
Rationality is essential for investing, because the moment you make an irrational or rushed decision, you stand to lose a whole lot. With mindfulness, you can make rational decisions as opposed to emotional or visceral ones.
Use your mind to figure out what the correct decision is for you and how you would like to work it out instead of being irrational and rushing a decision. A few deeps breaths, a short walk, some meditation, or simply calm advice from someone who isn't also panicking are all good ways to use mindfulness in your investing journey.
It will help you exercise patience
As a wise person once said, "patience is a virtue". It is also something that needs to be exercised while investing. This means patience with yourself, your doings, and others, not just in general.
We are only human, so it is understandable that we lose track and become impatient sometimes, but mindfulness is a simple and efficient way to bring us back to reality and serve ourselves and others with the best version of ourselves. This means that we can also provide our investments with the best decisions.
Mindfulness does bring patience, but some form of patience, no matter how small, must be within you to begin with. Just as there is no mindfulness without patience, there is no patience without mindfulness. Patience is a true key to being completely mindful.
It can aid you in making better decisions
Investing is all about the decisions you make and recognizing how they make potentially work out. A rational approach is far better than one that is made on gut feelings or your emotions. Decisions made based on sound/exact data will work far better in your favour as opposed to ones made on a whim.
When mindfulness brings rationality and patience to the table, you begin to understand how each of those fit into investing and how they may be able to help you achieve the best results possible. By identifying delusional decisions, you will better understand how to be mindful and make the correct decisions based off of a clear mind.
There are dozens upon dozens of studies that show mindfulness as a beneficial and highly unique form of higher being, so it is no shock that it holds its own place in every form of life (yes, even investing). It can help you become a better investor, a better person, and even someone who is better with their money.
Mindfulness is taking the world by storm, and while it is fairly new among investing, it is developing fast. Mindful Trader is a great example of this. In his words "Being mindful is a key to my trading success. It helps me stick to the plan instead of getting derailed by my emotions. Trading would be a lot harder for me without mindfulness!
One of the biggest mistakes you can make as an investor is allowing your emotions to get the better of you, you can say goodbye to that with mindful investing.
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