Posted on Saturday 11 June 2016
Money can be one of life’s biggest liberators, or stressors. So if you find yourself worrying about money you are certainly not alone. While we all hope to be able to enjoy life regardless of our financial standing, the reality is that money does buy a certain level of peace-of-mind. That's right. Plus you just can't put a price on your own peace of mind.
The constant worry about paying bills,buying groceries and keeping up with repayments can take a serious toll on our lives and mental health. Worst part, this kind of financial stress can be extremely harmful in the long-term. In some cases, you may find even find it hard to sleep at night or find that money woes are interfering with your relationships. These are obvious signs that your stress is getting out of control.
The good news is that there are tools and habits that can help you feel more secure and remove some of the money burden from your shoulders. While facing your financial fears head on can intimidating, it is a worthwhile step to regain your power. Here are some tools to help you manage anxiety about money:
Conquer your physical stress
The first step to gaining control over your anxieties is dealing with the physical symptoms. You may recognize insomnia, a racing heart and shaky hands as physical symptoms that come with worrying about money.
By introducing exercise (such as running or yoga) you can learn to overcome the frightening physical reactions your body is having to stress. Starting a consistent practice of meditation is also invaluable. As it will help you gain tremendous mental clarity. When your mind is clear, you can make real good decisions.
Get real about your finances
Some of out biggest worries simply come from the unknown. We know that fear of checking your bank account all too well, but living in denial is not helping your stress levels.
By taking the step to truly examine your financial situation, you are setting yourself up to manage it effectively. Create a clear list of monthly incomings, expenses, tax payments and debts. By seeing the figures laid out, you will then be able to create and accurate and effective budget. You may even be surprised at how much more manageable your financial situation is than you realized.
Seek professional financial advice
If you are dealing with a lot of unconsolidated debt or working with many different accounts, it may be beneficial to have a professional help you.
A credit counsellor or financial advisor will be able to assess your situation and suggest a plan for improving your financial situation. Sometimes just having someone who really understands finances supporting you is enough of a kick-start to get your money in order and ease your worry.
Also keep in mind that you are not the only one with this issue. Most of humanity is. Also another thing perhaps more important is to know that a lot of people have gotten out of this situation too.
Maybe the universe is causing money issues is because it's trying to teach you something. Perhaps something you are overlooking, etc. Think of it as a time to really connect with a higher power and see where it takes you. Don't fight it.
Accept it until life shows you a different way.
Limit your media consumption
While being informed is a good thing, spending too much time reading economic articles or watching the news can be fear-mongering. When you are bombarded with updates about job loss, the housing bubble and economic recession, it is easy to internalize the country’s fears. Stay informed, but focus on what you can control: your own situation.
Bottom line, stay away from the news or start with watching less of it. We're not judging what they show but it's best to focus on working on yourself. Cut out as many distractions as you can. Only watching positive or humorous things so your mind can start clearing up and then you'll naturally take good action.
Basically, watch things that clear your mind. Comedy might not be for you but whatever it is, do that. Don't be to hard on yourself either or that could backfire as well.
Overcoming money worries is a long process and requires some serious self-reflection, but is a worthwhile step to look after yourself. With these tips you will hopefully soon breathe a sigh of relief and sleep through the night.