How to Deal with financial stress
At some point in time you may find yourself dealing with financial stress. It could be due to a loss of employment. It could be due to the economy. Sometimes people can actually cause their own financial stress by over spending.
One way to handle stress is to have a plan of action.
Let’s talk about 4 ways you can do this.
1. Never spend money just because you are stressed. As tempting as that sounds this is clearly not the course of action you should take.
I was watching on of my favorite shows How I Met Your Mother. Lilly had a problem with credit card debt. How did she want to make herself feel better about it? She wanted to go shopping! Perfect example of what not to do!
Going out to dinner or shopping with money you don’t have will just put you in a vicious cycle. This will actually cause you more stress.
Instead why not treat yourself to a spa day at home? Take a nice warm bath. Do your nails. Give yourself a facial. A bottle of nail polish can be purchased for under $2.00 and will leave you feeling wonderful! You can either buy a face mask again for just a few dollars or make your own with oatmeal!
Reading a good book is another way to relax and de stress.
2. Know your situation. There are times when you have no control over a situation. Once you realize that and work with it you can better improve your financial outlook.
3. Don’t go it alone. Discuss your problems with your family. This is especially true if you are married. By openly discussing your finances you are better able to work on things together and map out a plan.
In the above example I mentioned, Lilly had not told Marshal about her credit card debt. How did he find out? When they went to buy a house. Marshal was shocked! Clearly this was not the way he should have found out. As a couple they should have discussed and worked on this problem together.
4. Stay Organized. Be sure you have a calendar for when your bills are due. Mark them off as you pay them. Sometimes having them written on a calendar enables you to see how your month needs to progress in order to keep up with your finances.
Believe it or not by having a plan you can improve your financial situation thereby reducing stress. You can’t just wing it.
Take a long hard look at what you are spending your money on. By doing this you may find ways to cut expenses.
Recently I was working with a client who had two vehicles. By rearranging their schedules they were able to go to only one car. This saved them over $300 per month!
Who couldn’t use an additional $300 per month?
In this economy people have been getting more and more creative with their finances.
They are simplifying their lives and in doing so they are lessening their stress.
Have you found creative ways to lessen your financial stress?
Share your thoughts and comments below.
Be Savvy and Successful!
Toni Nelson – Author, Professional Speaker, Business Coach, Award Winning Videographer and Photographer