Best Practices to Combat Money Stress
These tips will ease money stress so you can create a more peaceful life
Do you ever feel stressed-out about money? I don’t have statistics on how many people have financial stress, but I know you’re not alone. In this article I’ll highlight some fundamental causes of money-stress and tips on how to deal with them effectively so you can create a more peaceful life.
How to Deal With Money Stress
There’s no shortage of reasons why people are dizzy with money stress. There are various reasons of financial problems that we can’t control but it affect our wallets nonetheless. It’s important to realize that stress is nothing more than our body’s response to a situation or event. When faced with an emergency – some people freak out and other people stay completely calm and in control. The situation is exactly the same for everyone, but the way each person perceives the situation is very different. Though you may never completely eliminate stress in life, managing it can help improve relationships, health, and general sense of well-being.
> Change your language – Keep positive attitude and use positive language will reduce stress response to financial issues. Never say that you only have limited resources, whereas you can explore other avenues to earn more.
> Reframe your thoughts – How you view your finances and the manner on how you speak about them can change the way you feel. Remember that actions are always preceded by thoughts and beliefs.
> Recognize your potentials – People tend to get more stressed when they believe a situation is out of control. When it comes to money, you always have the power to make a difference, so recognize that choices exist for you to improve any financial problem.
> Stay in the present. – Financial stress comes from projecting a worse-case scenario into the future. Exaggerating a situation to the point that your heart starts pounding and your palms start sweating. Remind yourself that you’re not in the future – you’re in the present moment where you have complete control.
> Get financial help – Talking to somebody or a financial professional can help you see options and solutions to your financial problems that you might be overlooking. Working with a financial planner is a smart way to get back on track so you feel more in control and optimistic about your situation.
> Reduce your debt – If debt is stressing you out, create a spending plan so you can free up more discretionary money and pay it off ASAP. Keep the total of all your monthly debt obligations below 40% of your gross monthly income.
> Choose to build wealth – Using your money to create a secure financial future, instead of spending it on material possessions, will give you a feeling of freedom. You can reduce stress by purchasing less stuff that you and make a commitment to save and invest at least 10% of your income.