Financial stress and anxiety affect millions of people across the world. No matter how much money you make, you have probably felt financial stress at some point in your life. It doesn’t matter how well you think you have planned, life is unpredictable and things can happen that cause you stress or anxiety. However here are 5 useful tips to keep financial stress at bay:
1. Talk about it – don’t be an ostrich
Financial difficulties can affect more than our wallets. They can also affect our health, which is our most precious asset. We need to protect our mental health and wellbeing as well as our physical health.
Talk openly with people you trust about what’s going on and how you are feeling. It can help you and the people around you to understand the stress you are feeling and work out how to deal with it.
2. Keep track of your spending
Our budget planner can help you to list and total all the things that you pay for from your take-home pay each month, then compare it with your monthly salary to get a clearer understanding of your disposable income to help you take control of your money.
3. Small steps are key
Take one step at a time to make sure you don’t get overwhelmed. Identify what you can reasonably achieve and then dedicate yourself to following through each and every month. Sticking to a budget is not always easy, and there may be days when it proves hard. If that happens, remind yourself of how much you have to gain by reaching your goals.
4. Look for help
Lots of places can offer help such as MABS (Money Advice and Budgeting Service), which is a free and confidential service for people who are having problems with money management and debt. MABS money advisers provide advice and practical help to people to review their debts, deal with their creditors and work out solutions.
The Citizens Information Bureau is the statutory body which supports the provision of information, advice and advocacy on a broad range of public and social services. It provides the Citizens Information website, www.citizensinformation.ie, and supports the voluntary network of Citizens Information Centres and the Citizens Information Phone Service 0761 07 4000.
Or you can engage with a Financial Broker to offer you financial advice. A Financial Broker will take time to get to know you, your personal circumstances and your financial goals. They will discuss your options and help you come up with a financial plan that suits you. Financial Brokers are obliged to have a qualification or be accredited by experience. They are full-time professionals and experts in their area.
5. Stay positive
Positivity can gather pace just as quickly as negativity, so try to keep upbeat, learn from the things that are going well and celebrate the wins! Find positive aspects of each day, while this may sound like it is not really a solution to your problem, it can make a big difference in the amount of stress that you feel.
24 Jul, 2018