Five ways to reduce money stress
Money is one of the most stressful things that we deal with on a day to day basis. We take a look at five ways to cope with the stress and improve your finances.
Talk about it.
If you are feeling consumed by money stress, you need to ask for help.
Some of us find it difficult to talk about these issues with friends and family. This is where speaking to a professional is very helpful. This can either be a Financial Planner or you can talk to one of a number of charities who specialise in debt management.
Budget Planning.
We recommend analysing your expenditure in more detail to ensure you are on top of what is being spent. By doing this, it allows you to understand and prioritise, where needed, your outgoings more closely.
A budget planner should be as detailed as possible to give you a clear understanding of where your money goes every month. Once completed, there could be some scope for further saving, which would alleviate some of the stress.
Make a list.
How many times do we go to the supermarket without a list? We get to the till and have no idea how much we have spent.
Making a list for tasks such as going to the supermarket or Christmas shopping, will help you to keep on top of what you have spent on a daily basis. These small steps will make a difference in the long term.
Ask yourself this ….
How you think about money is a key factor in how you can move forward and reduce your money stress.
Realising your biggest fears around money can help you to seek advice and change your mindset moving forward. One of the main questions to ask is "how much money do I need to feel happy and how do I get there?".
Stop spending on short-term happiness.
We all know the instant happiness we get from retail therapy, but this is generally short lived.
Planning for the longer term allows you to work out your real priorities and budget accordingly. Why not plan for that special trip with your family? These are the things that will bring you happiness for many years to come.
Do not hesitate to get in touch if we can be of any assistance.