Posts Tagged ‘budget’

Escaping Financial Stress

August 12, 2016

We know our minds and bodies are connected, but did you realize they’re also linked to our bank accounts? Financial stress can have a large impact on your physical health, thoughts, and relationships.

The largest obstacle between financial wisdom and lowering our stress is our attitude. In our quest to make the right decision, we can become scared about the wrong one. Sometimes we assume if we try to make wise financial choices we’ll just end up failing. However, it would be better to take the risk, and even possibly fail, than to never make a move.

Tips to Alleviate Financial Stress

The pinch on our bank accounts and the ever-changing market isn’t something to take lightly. The following tips may help ease the financial stress and strain on your wallet.

Adjust your perspective – Often times, when we have failed in the past, success seems farther out of reach than it actually is. Perceptions can easily be flawed. Our attitudes about what we have control over and what we don’t control can impact our level of success.

Stick to your budget – Knowing how to track your money is critical. Establishing a clear budget shows you exactly how much inflow and outflow you have. If you’re unsure how to make a budget, there are online tools and mobile apps available to teach you.

Identify unhealthy emotions – If you’ve made a poor financial choice this doesn’t mean you’re destined for failure. Guilt is rarely a helpful emotion. Instead, focus on what you can changeĀ  rather than beating yourself up for your prior financial mistakes.

Know your weaknesses – Avoid places, people, or situations that will tempt you to spend money you don’t have. For example, if you make impulse purchases after a stressful day at the office, try taking a walk and avoiding the mall. Practice saying no to people who pressure you to spend too much money.

Seek help – Look to the experts for help if you need it. Speaking with a legitimate professional can answer your financial questions and guide you toward a specific, attainable goal. Why not benefit from their expertise?