Which one of us hasn't felt financial stress at one time or another? I am sure most of us are experiencing it now. The economy is such that many people are losing homes, jobs, and having their businesses go under. It is no wonder that stress is at an all time high. I thought I would start our stressful Saturdays by talking about how financial stress affects you and what you can do.Financial Stress causes a lot of issues that can/should be prevented. Here are some of the things it can cause:
1. Unhealthy Coping Strategies -- Many people who have financial difficulty start to cope by abusing substances like alcohol, drugs, or even food. These things only exacerbate the situation and cause emotional more financial difficulty with the cost of these addictions.
2. Less money for self-care -- When money gets low, people tend to cut back first on things like health care, therapy, exercise expenses like the gym, and even their once a week coffee or pedicure. Cutting out these things to pay bills can lead to you feeling even worse and having absolutely no outlet for your stress and failing health.
3. Lost Sleep -- When people start to worry about finances, it often gets worse in the nighttime hours while you lay in your bed trying to sleep. It can be hard to be rested when your mind will not shut down at night.
4. Unhealthy Emotions -- Credit Card Debt, loss of assets, etc... can lead to an overwhelming sense of hopelessness and depression. It feels like a bottomless pit at times and it gets increasingly difficult to find happiness in these times.
Now, here are a few tips on how to get through your financial stress and help yourself feel better:
1. Find out where you actually stand -- Many times people "bury their head in the sand" and don't look at the reality of where they stand financially. This can lead to them getting more and more behind when it might actually have been manageable to begin with.
2. Don't stop self care -- When you have to cut out things like pedicures and coffee house drinks; replace your old self care with newer cheaper options. Some tips I use is doing my own pedicures at home, making a nice flavored coffee drink at home, or even signing up for online programs like MyPoints and reading emails for points that you can redeem for gift cards to expensive meals, Starbucks, or even some clothing stores. We just had a meal tonight at Macaroni Grill for absolutely free due to this site.
3. Create a budget -- A budget makes you feel more in control of the process of getting out of debt or managing the little you have in the best way possible. Again, this is being more aware of where your money is going and doing the best things you can with it. This makes you feel a lot more peace when dealing with bill collectors and creditors when you know exactly what is going on.
4. Learn to find joy in cheap/free things: Have a game night with your spouse and play for small dollar store prizes, have a $2 themed date night including the dollar menu and a $2.00 movie at a local Regency theater, go for a walk in a beautiful place and pack a picnic from home. These small joys can make those money woes seem incredibly small.
5. Value people, not things: Remember that this is a season of your life and this too shall pass but don't spend your time wishing it away, savor moments with those you love and the process of learning how to be a wiser money manager!
I wish you all the best and blessings upon blessings!
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