How to Manage Financial Stress
By Abbey Rose
Financial stress can come in many different shapes and sizes, so I’m sharing with you 5 ways managing your behaviour can save you from unnecessary stress.
If you take the time to implement these tips into your everyday life, you’ll find that financial stress will become a thing of the past because you’ll have more control and knowledge about your finances and how they work.
#1 Develop self awareness
What are your values, beliefs, emotional and physical needs? If you’re not taking care of yourself, then money isn’t going to come take care of you which will lead to stress. So become aware of what your ‘self’ needs.
#2 Emotional Regulation
Meet your emotions because unmet emotional needs can get you distracted.
If you’re going through something (which we all do from time to time!) and you’re ignoring it, you’re just causing yourself bigger problems. The ‘head in sand’ mentality is going to bring on more unnecessary stress and will in turn, affect your financials, causing unwanted financial stress.
#3 Set Goals
Set financial goals aligned to your value system.
If you have nothing to aim for, you’re not inviting the money you need into your life. Ask yourself – what do I need to earn to live comfortably in the life I’m leading? And then ask yourself, what do I need to earn to live comfortably in the life I desire? And work backwards to create a financial goal!
#4 Freedom Number
Know your financial freedom number.
Like the goals mentioned above, figure out how much you need to live comfortably, and then figure out how much you would need saved up to be able to continue to live comfortably for six months if all streams of income stopped. Once you know this, you’re able to prepare for it, which will save you untold amounts of financial stress in the long run!
#5 Intentional Spending
Have fun creating and spending money for satisfaction rather than pleasure.