It's no secret that money is a key point of stress for many. It doesn't come with an instruction manual on the best ways to use it, and we certainly tend to feel as though we don't have enough of it. No wonder why money causes stress and frustration!
If you're feeling this way, you aren't alone. Let's take some deep breaths and figure this out together. Here are six ways to reduce your financial stress.
Pinpoint what needs the most attention
It can be difficult to know where to begin when you're under financial stress and have a lengthy list of to-dos. Let's start with what needs the most attention! Create a list of three or four items that you should get done first. Whether it's paying a bill that's due soon, setting aside more money for retirement, or even paying off debt. Keep it to just a few items, and that way, you keep your list small and less overwhelming.
Understand that even the littlest action will push you forward
"We rise to great heights by a winding staircase of small steps." – Francis Bacon
Did you finally transfer a little bit of money into your savings account to continue building your emergency fund? Great! Did you pay off a little more of that medical bill? Fantastic! Reducing your financial stress is a marathon, not a sprint. So, keep taking those tiny steps to push yourself closer and closer to your financial goals.
Communicate
Are you managing finances alongside someone else? Maybe it's a spouse, partner, or even a family member. Many are afraid to talk about finances within their relationship due to the stress it causes. We encourage you to yank off the bandage and start communicating! This way, everyone knows the stresses and what you'll do together to reduce them.
Anticipate what could be ahead
If there's anything that we've learned lately, it's that things happen, and it's important to prepare for what could come in the future. Prepare your finances, too! Having your finances prepared for an unexpected medical, car repair, or even a global pandemic will reduce your financial stress later down the road!
Automate what you can
Each day, we've got a lot to remember to do! Why not scale down that list and automate what you can? You can automate your bills to get paid, schedule transfers into your Savings Account, and much more! By doing so, you can ensure you are reaching your financial goals and reducing your stress without having to think too much about it.
