Image courtesy of Jens Neumann at Pixabay
Financial problems are certainly nothing new and many of us have encountered them many times during our lives. However, at the time of writing it is becoming a particularly acute problem around the world as the impact of the Coronavirus pandemic starts to take effect on the financial situation of both nations and individual people.
If this is something that you are starting to worry about then don't let financial problems cause stress. Easier said than done you might be thinking but let's look at how you can help yourself at times of financial worries.
A lot of people today are finding it hard to deal with the worries of trying to stay safe and healthy and understandably that has been most people's number one priority. However, as more and more companies start laying off staff or cutting hours or rates of pay, people are starting to worry about making ends meet.
If you are one of these people, chances are you could benefit from a few stress management techniques.
Don’t make the mistake of thinking you will never get out of the hole. This leads to negative thinking and feelings of distress. When you find self-doubt and despair creeping into your thoughts, it sometimes helps to remember that happiness is only a smile away.
Smile when you can, and endure when you have to. Remember to stay strong. When you tell yourself that you’re strong, you will discover the extraordinary power to achieve great things.
When you stress out over your financial situation, your heart races and your blood pressure rises. Knowing how to manage the stress is not easy when there is no end in sight.
A Personal Experience Of Financial Stress
I recently had a conversation with a friend of mine who lost her job last year and I asked her how she dealt with the situation. This is what she told me:
"A little over a year ago, I found myself in a serious financial crisis. I lost my job after a year at a big corporation. My husband and I had just bought our first home, and we had to rely on his income alone to support us and pay the mortgage.
As a result, we stressed out on a daily basis. Not surprisingly, a few tears were shed, as I found it hard to find another job to no avail.
To alleviate this stress, we cut back on our spending as a means of stress management. We cut back the grocery bill by only buying what we needed, and spent only a little on extras, such as baked goods.
While it was difficult and often painful, we were much happier in the end, and eventually, we did climb out of the hole. Finding a way to start my own online business was a real blessing.
If you find yourself suffering from financial stress, remember that stress management is not far away. Many people find themselves dwelling on only the bad things that could happen. While this is good in the sense that it prepares you for hard times, it also heightens your feelings of stress to unimaginable levels.
Make A Budget
It may help you to draw up a budget. This makes it easier to manage your money and allow for necessary expenses. Once you’ve determined how much you spend out in a given month, calculate how much you have extra once you have paid for the necessary expenses, such as the mortgage and food.
Take time to do this and be sure to be completely honest with yourself. Add in all your regular expenditure including small amounts like a coffee or a drink with friends.
You need to have a full picture of where your money is going before you can create a proper plan for how to minimize expenditure and create a budget that can minimise the stress of financial problems.
Keep your ultimate vision in mind. When under financial stress, we sometimes lose sight of the fact that great things can and will happen. They may take time, of course, but through hard work and a little sacrifice, you will find that good days lie ahead.
Some people get so discouraged that they say things will never get better. You may think that you may never get a job, that you may never be able to afford that nice house, but thinking negatively is the easiest way to heighten stress.
When you find yourself dwelling on the negative, take a moment to tell yourself things will get better. Imagine what your future could be when you work hard. Take small steps toward your own happiness and financial well-being.
The first few steps are tough and can seem like you are making little progress but sticking with it builds momentum and you will start to see improvements in your financial situation.
As a result, you will have a renewed vision and a more positive view of the world. Not only does this alleviate stress, but also it helps you think more clearly, and makes it easier to continue to make your life better.
As a result, you will have more drive and an incentive to succeed in what you do. You will also find that you are happier and get along with people a lot better. Stress can cloud your mind and make it difficult to think at times.
This may sound easier said than done, but a lot of people find themselves rushing and stressing out as a result of financial stress. Some worry is good; it keeps you healthy and alert, but worrying to the extreme will leave you feeling rundown and will drain you of energy.
Slow down your pace a bit. Believe it or not, you can do this. When you slow down, you give your mind time to stop racing, so it processes thoughts more quickly.
As mentioned earlier, it’s important to stay strong when you’re under financial stress. To relieve financial stress, don’t pay for home improvement services. Do the work yourself, and you will begin to see that you wallet gets a little thicker.
Put away small amounts of money, whenever you can. Let them accrue interest in the bank - even though rates are currently very low it will still help.
As you watch the balance of your account grow, you will begin to feel a tremendous weight lifting off of your shoulders.
Sometimes, all it takes is a little organization to minimize financial stress. Whatever you do, don’t stress out too much. Keep your stress to a minimum, and most importantly, be happy!