17 Jul Eliminate Your Financial Stress
The majority of Americans feel financial stress at some point in their life. This financial stress can cause severe anxiety and depression. No matter how someone comes into financial stress, it will never go away on its own unless changes are made. Below we dive into the most common ways to change your financial situation and overcome financial stress.
IDENTIFY THE STRESS POINTS
It is crucial to figure out what is causing your stress and anxiety. Are you unable to pay your bills? Do you have endless credit card debt? Do you feel unprepared for retirement? Whatever it is that you are worried about, write it down. Try to keep your list to the top three items causing the stress this will help you from feeling overwhelmed. Once you have identified your sources of stress you can begin to make a plan to eliminate them .
MAKE A BUDGET
You have figured out what is causing you stress, now write out a budget. Creating a budget will allow you to see where you truly stand financially where your money goes. First, you will need to take an inventory of sorts… what is your income, what are your expenses, do you have assets and what debts do you pay. Organizing all of this information will allow you to find ways in which you can alter your current patterns and spending to help relieve some stress. Maybe you buy a coffee twice a week and occasionally get a snack to accompany it which doesn’t seem like a big purchase in the moment, but when you see it in the budget you realize this adds up. Dining out, subscriptions plans and premium services charges can change, increase and add up quickly without you even realizing. If you aren’t sure about how to make a budget, explore a free app such as Mint or Wally. Today’s technology makes it easier than ever to track your spending. 
BE REALISTIC AND HONEST
If you followed step one and two you should now understand where your money is going. Now it is time to cut back and start to put together a plan to get yourself to a comfortable financial situation. It is important to realize this will take time and you will need to be realistic about your goals. Start by cutting back $50 here or there or maybe you don’t need both Hulu and Netflix. If you realized, you need additional income instead of getting a second full-time job start with working only 1 additional day each week or try a new field such as network marketing which will allow you to work from home after your primary job. These small changes will start to lead to big results. 
TACKLE YOUR DEBT
Your budget and plan should include ways to reduce your debt over time. This may seem daunting at first but there are several non-profit debt counseling services available which can provide key tools and guidance such as Debt Helper or In Change. 
USE YOUR SURROUNDINGS
Confiding in a spouse, family member or friend could help relieve some of the stress while at the same time creating an opportunity for these individuals to help keep you on track. Everything becomes easier when you have a support system so share your goals. You may find friends are much more inclined to meet at the park then at the mall. Another great tip is to stay away from negative social media. Do you follow people who are lavishly traveling or eating exotic dinners every night? If so, this could be making you feel like you are doing something wrong when you’re not at all. No one knows what is going on behind the scenes of social media or the financial situation so focus on the reality in front of you! [1,2]
USE STRESS RELIEVING TECHNIQUES
Even though you are on the right track to get your finances back in tip-top shape, this may take time. Learning to deal with and manage stress is something everyone should know how to do. One of the most common ways to deal with stress is exercising. This way of self-care will help emotionally but potentially physically leading to a healthier happier life. If exercising isn’t in the cards for you may be meditation is. Meditation is thought to be a powerful tool in relieving stress. Be sure to stick with whatever technique works for you because as life goes on stress will come and go, thus making stress management techniques some of the most valuable you may have. 
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