FINANCIAL STRESS AND ITS CURE !!
IT ALL STARTS WITH YOU!
To beat money stress you must first identify what is causing it. Likewise, you must realize that having more money is not the real solution; rather it’s changing your perspective about money that will help you recover from financial stress. Lastly, by following our ten financial stress-busters above YOU CAN BEAT FINANCIAL STRESS!
Finacial stress as the word explains deals with stress related to financial conditions of a person or a family.Financial stress can
Causes of stress
Financial stress can go from wreaking havoc on your wallet to ruining your health if you’re not careful. WebMD even listed finances as a common stressor that can trigger long-term diseases and bust your budget even more. As with any problem, the first step is to know the enemy so you can fight it. What is causing your financial stress? The obvious answer may be money, but, surprisingly, not quite so, or at least, not in its black-and-white context.
- Expenses are greater than income: You spend more than what you are earning. You’re maxing out your credit, taking payday loans for trivial things, or taking some cookies from your retirement fund. It’s a spending habit that turns into an addiction.
- Living paycheck to paycheck: You count the days by 15s hoping you’ll make it to the next. Even your toilet paper is replenished every payday because you always totally wipe out your salary paying off expenses and debts.
- Debt: The feeling of being indebted can be terrible. You may even feel shame or disgrace that often destroys relationships between friends and family members. Paying it up off a big chunk of your salary over a long period can make you feel like that rat in the wheel.
- Lack of financial plan: You feel you’ve lost control of your finances because, to start with, you don’t have a goal or financial anchor. You sit there in your dingy that floats aimlessly in the middle of an ocean of spending.
“Money alone cant solve the inancial stesses”
You might think that unless you’re unemployed or in need of emergency cash, having more money solves your problem outright. But often, the more money we have the higher our financial stress. Not to say this it is always the case, but the truth is we have an insatiable thirst for more things that money can buy.
The real key to dealing with financial stress is to change your behaviour towards money. Spend smarter, invest more and save some.
Steps to fight finanial stress
We have met the enemy and that is us, In many ways, you are your biggest obstacle to getting rid of financial stress.
1 Be Positive( positive outlook)
There is power in words and in the language that you use. Don’t say negative words as they have the power to make you negative too. Put concentration and clarity into your thoughts. Say, I’ll only buy things that I really need to save for my retirement or I will find another income.
2 Change your thought process
It’s amazing how simply changing your financial perspective can result in drastic improvements. For example, instead of using the formula, INCOME + LESS EXPENSES = SAVINGS; change it to INCOME + SAVINGS = EXPENSES and watch your money grow. It takes discipline to stick to the second formula but it will give a very positive change overall.
3 “Belief in your self”
Believe that you can solve your all monetary issues. There are people who have been in worse financial conditions than you,people have overcomed this dilemma. Hopelessness is the way of losing control over the situation; believe in yorself that you still have control over your finances and you can start bringing in hope back into your home.
4 Foucus on the positive side
Think of the other great things that you have. Your health maybe. Your family. A great kid. Steady job. Great friends. Solve the things that you can today, and be at peace with those that you can’t for the meantime and life will suddenly be more bearable.
5 Live in the present
Plan for tomorrow but live in the present. Worrying too much about tomorrow is as unhealthy as living in the past. We all can plan so much to safeguard our future,But its important to always live in the present and focus oncurrent issues.
6 Aoid vain thoughts of failure
A bad outcome doesn’t mean you’ve failed. It only means you’re caught unprepared. Even some of the most successful people today have, at one point in their lives, failed miserably in their credit. It is how you get up from a defeat defines your success.
7 Plan a holiday
When you find yourself worrying about the same things every minute, it’s time to jump into that gym or yoga suit. Exercise or join a mediation class to ease out the worries. Keep your mind healthy and your body fit, in fact, even more when problems strike. You’re better armed and focused to solve problems when you are healthy.
8 Ask for financial help(Advice)
There are financial coaches or specialists who can help people solve their money problems. You can also talk to a family member or close friend and ask for financial assistance if you believe this is to your best interest.
9 Overcome your debt
The ideal ratio is to control your debt payment below 40% of your salary. Work out a plan with a financial adviser or a professional friend on how to pay up your debts. Identify unnecessary expenses that you can control to debt payment.
10 Invest and Save
Save or invest at least 10% of your income. This holds true even if you’re paying off debts. Control all impulsive buying. Cut the credit for the meantime and put the money instead on investments. If debts give you the pain, savings and investments are your medicine.