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We’ve all been there, struggling to get to sleep because we’re worried about our financial situation especially with the world in an uproar over the pandemic! Are you waking up in a cold sweat frightened about not being able to pay a bill. Sometimes we’re irritable and snappy with those around us due to finance-induced stress. It’s a terrible situation to find yourself stuck in. And believe it or not, most of the population suffers (or have suffered with at some point), stress and anxiety due to their money and finances.
But, help is at hand. The fact that you’re not alone in your financial worries should bring you comfort. My husband and I have had our ups and downs financially from living an every day life, to owning a home, to moving a couple states away, almost losing a house and selling in the nick of time before money was completely run out, to renting a penthouse, to renting a tiny duplex, and more. C’est la vie as they say! Everyone suffers and worries about money at some point, and plenty of people come out the other side.
Here we’ll look at 4 simple tips that will help you to beat and overcome your financial anxiety and, hopefully, get you a good night’s sleep.
Save, save, save
Ok, so it’s easier said than done and hindsight is 2020 in a situation like now. But for many people, the idea of having a monetary safety blanket is enough to quell the feelings of anxiety that surround their current financial situation. Make sure you’re continuing to add to your savings account each month and if you need more information on a stocks and shares ISA, click the link. Make sure you’re incorporating your savings into your monthly budget each month, that way saving will become natural. Have part a portion of your paycheck go to a separate bank account so you won’t hardly notice it. And only only only use that account for emergencies only! I’m not talking so and so is coming to visit and you just have to take them out to eat or ooo my favorite shoes are on sale emergencies. I’m talking you car has broken down or you’ve lost your job kind of emergencies. It’s hard though to save money if you don’t know where in the world it is going. That’s why budgets are so important. Speaking of budgets…
Budget – everything!
Are you spending more than you earn? When you spend without thinking or finish the end of the month literally counting down to payday, it’s time to look at your budget and finances and see where you can make some changes. Creating a budget helps to alleviate some of the financial pressure that you’re under, freeing up hidden money and giving you more freedom. Look at your food budget, how much you’re spending on rent, bills and takeaways. See where you can save and put your budget into action. And don’t fool yourself into thinking you have to have something when you don’t really. Here are the necessities of life – food/water, shelter, clothing. Yep, that’s pretty much it. Here are some things that are not necessities – the newest electronic, television, makeup, entertainment, etc. Check out the plan that Dave Ramsey teaches people to help budget and become financially successful.
Stop comparing yourself
It’s perfectly normal these days to jump onto social media and see your friends, peers and old acquaintances seemingly living life to the full with it all figured out. They have money, a great car, their own home and everything that goes with it. It’s easy to compare yourself and feel pretty dreadful about it. Firstly, don’t believe everything you see online! That lifestyle might be courtesy of credit cards and loans. If it’s genuine, you’ll probably never know the amount of strife, stress and sacrifice they’ve been through to get there – much like you, right now! Their journey is completely different to yours and they could be looking at your social media posts and thinking exactly the same thing.
Talk to someone
If your money worries are disrupting your life, then it might be time to reach out for help. Consider talking to parents, family members, friends or a professional. Try to speak to someone with an open mind and who won’t judge you! If you find someone to go through your numbers with you, you may find that your worries are unfounded, or they could reveal something about your finances that could help you gain back control.
Uncertain times can always be just around the corner. There is no way to predict what can happen in the future so it is always good to have an emergency plan in place for paying bills and getting by. This is more evident now than it has ever been.
If you are feeling down or depressed for more days than not, please seek medical attention. If you are feeling like you cannot go on, please call the suicide hotline at 1-800-273-8255 or chat here>>> https://suicidepreventionlifeline.org/chat/ Or visit the suicide prevention lifeline at https://suicidepreventionlifeline.org/