Exploring the Importance of Financial Self-Care

By Monique Street -- JP Morgan Chase DEPLOY Financial Wellness Fellow 

In navigating the challenges of being a military spouse, I've recognized the importance of financial self-care. For me, it's about more than just managing money; it's about recognizing the connection between our financial habits and mental health. 

Early in my marriage, I noticed that my spending habits would change when my husband was away for extended periods. I didn't know anyone in the area, so I would spend more time at stores to try and feel less lonely. I later realized that I was seeking connection but was attempting to fill that space incorrectly. Instead, I had to find ways to connect with the community around me that didn't tempt me to steer away from our budget. 

After that, I began getting involved at our local installation in any way I could — attending family readiness group meetings, classes offered by Army Family Team Building, and volunteering at Army Community Service. Building and nurturing friendships became an essential part of my financial self-care routine. Through this experience, I also found a career that allowed me to help others overcome hurdles to achieve their financial goals. 

Financial self-care isn't one-size-fits-all; it's about identifying what works best for you. Setting realistic goals is also an integral part of practicing financial self-care. While it's tempting to focus on the big-picture wins, breaking them down into smaller, achievable steps is key. For example, if your self-care goal is regular weekend getaways, starting by carving out time to explore new free or low-cost activities in your area might be more reasonable. It's about making the most of the resources available to us now to sustain ourselves and continue to make room to achieve our larger goals in the future.  

The most important thing to remember is that if you need help, whether with setting financial goals or addressing mental health concerns, there are resources available to help military families. You're not alone when it comes to figuring out your self-care journey.