How to Reduce Your Financial Worries

One of the biggest causes of stress in our lives today is money, especially among younger people who are dealing with caring for older parents, caring for their own children, and getting started in life.  So how can you reduce your money woes and feel better every day? Set up a rainy day fund When life throws you a curve, it helps to have a rainy day fund that is only for helping to cover the part of your auto repair that insurance doesn’t, or a visit to the emergency room after a rugby game gone awry, and the like.  Knowing that you have planned for the unplanned will help reduce your fears about what will happen. Be mindful about your planning If you have certain goals in mind that you want to save for, like your children’s university days or your own retirement, write those down, and be specific.  Use the dates you will need to have this money and an approximate dollar amount you will need to have.  This will give you some certainty about the future and reduce your worries. And, use this tactic for all of your planning, even for the smaller things like a perfect vacation or redoing the fence. Look at the bright side Have you been able to do some things that are leading to a brighter future?  Don’t forget to celebrate those wins – inexpensively, of course.  Read over your investment statements and take some joy in the upward trending line, or have your home value checked and realise that investment is increasing in value. Pay down debts Knowing you have debts you owe and worrying about being able to pay them off can cause some deep anxiety.  Taking your lunch to work with you or making coffee at home every day saves a lot of money over the course of a year, and those savings can be put towards paying down debt. Track your spending Does it feel like each pay check should go farther?  It might be time to do a spreadsheet or use an online tracking tool to find out what you spend your money on and how much goes to those places.  If you love getting your favourite turkey sandwich at the corner deli, save the receipts from a week and total them up at the end to see how much that is costing you.  Knowing where you money goes and whether that is a wise use can really help reduce your personal stress levels. Take some active steps to reduce stress You might not think these would work, but they can help you relieve some of the stress in your life.  Enrolling in a yoga class, or just practicing mindful breathing and meditation, can take your stress hormone levels down.  Even just going for a lovely walk in a park can help clear your mind and improve your mood. Sources: One of the biggest causes of stress in our lives today is money, especially among younger people who are dealing with caring for older parents, caring for their own children, and getting started in life.  So how can you reduce your money woes and feel better every day? Set up a rainy day fund When life throws you a curve, it helps to have a rainy day fund that is only for helping to cover the part of your auto repair that insurance doesn’t, or a visit to the emergency room after a rugby game gone awry, and the like.  Knowing that you have planned for the unplanned will help reduce your fears about what will happen. Be mindful about your planning If you have certain goals in mind that you want to save for, like your children’s university days or your own retirement, write those down, and be specific.  Use the dates you will need to have this money and an approximate dollar amount you will need to have.  This will give you some certainty about the future and reduce your worries. And, use this tactic for all of your planning, even for the smaller things like a perfect vacation or redoing the fence. Look at the bright side Have you been able to do some things that are leading to a brighter future?  Don’t forget to celebrate those wins – inexpensively, of course.  Read over your investment statements and take some joy in the upward trending line, or have your home value checked and realise that investment is increasing in value. Pay down debts Knowing you have debts you owe and worrying about being able to pay them off can cause some deep anxiety.  Taking your lunch to work with you or making coffee at home every day saves a lot of money over the course of a year, and those savings can be put towards paying down debt. Track your spending Does it feel like each pay check should go farther?  It might be time to do a spreadsheet or use an online tracking tool to find out what you spend your money on and how much goes to those places.  If you love getting your favourite turkey sandwich at the corner deli, save the receipts from a week and total them up at the end to see how much that is costing you.  Knowing where you money goes and whether that is a wise use can really help reduce your personal stress levels. Take some active steps to reduce stress You might not think these would work, but they can help you relieve some of the stress in your life.  Enrolling in a yoga class, or just practicing mindful breathing and meditation, can take your stress hormone levels down.  Even just going for a lovely walk in a park can help clear your mind and improve your mood. Sources: https://bettermoneyhabits.bankofamerica.com/en/debt/how-to-overcome-financial-problems http://www.healthinharmony.com/reduce-stress-from-financial-worries-manage-money-wisely http://time.com/money/2795286/5-ways-to-reduce-your-financial-anxiety https://bettermoneyhabits.bankofamerica.com/en/debt/how-to-overcome-financial-problems http://www.healthinharmony.com/reduce-stress-from-financial-worries-manage-money-wisely http://time.com/money/2795286/5-ways-to-reduce-your-financial-anxiety

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