Financial worries can cause extreme emotional distress. Worrying too much about what we have or don’t have can result in stress that could, if prolonged over a long period of time, lead to strokes, heart attacks and other serious health problems. It is not that you should ignore the state of your finances, but that you should learn to cope with your money worries in a more constructive way.
If you feel shortness of breath from time to time and have started experiencing even the mildest panic attack, it is time to do something about it and grab the bull by its horns this year. The following tips will help you.
Budgeting needs to be part of our everyday lives. We can simply not afford to spend more than what we are earning, not in the long term at least. This would result in high debt being just around the corner. As a result, it is wise to plan accordingly and have a budget established for every month. If you know there will be days or weeks when you will need more money, then it is time to write these periods of time down and plan for them. Forecasting will provide you with greater peace of mind and you will be able to rely on a set strategy, rather than on impulsive decisions. This is a short guide on how to create a budget.
Get rid of your debt
No matter where you are in life – starting a new job, at your old one but with a vision to join a different company, or in self-employment – chances are you might have some debts to pay off. According to the US Census Bureau and the Federal Reserve, the average American household owes $16,425 in credit card debt. This is a worrisome figure, especially if we consider that the US has nearly 126 million households. Whilst being overwhelmed with debt might stop you from thinking clearly and establishing a logical course of action, the sooner you take steps to get rid of your debt the earlier you will part ways with your financial worries. Have a look at these debt consolidation loans for bad credit.
Sit on your worries
Yes, you have read correctly. As experts in cognitive behavioural therapy and meditation practitioners from all over the world know only too well, fighting your worries will only add to your stress, resulting in a less clear mind with which to think. What you actually need to do is sit with your worries and learn to look at these with an open mind, and be present when these arise and then disappear. This is called meditation and many people around the world are practising it, as it has been scientifically proven that it helps with anxiety and depression. If you find your money worries a little too overwhelming, why not give mindfulness or meditation a go?
What’s your favourite type of meditation?