Money can’t buy happiness, but many Americans experience emotional and physical tension because of financial worries. Financial concerns are a top stress factor in every age group, according to a report by the American Psychological Association.
Stress can have an impact on your life, including negatively affecting your health. If you find you are unable to sleep because of your financial situation or you have other money concerns that are upsetting you, connect with a personal counselor to learn about stress management techniques.
Making Decisions and Recognizing Behaviors
Sometimes, when a person is experiencing money stress, they feel like they can’t make any decisions at all. They are overwhelmed. Then, they are not sure where to start so they simply ignore the issue, which leads to more negative feelings.
If this is true for you, know you can make decisions and take control over your concerns. Understanding exactly what the problem is leads to solutions. Focus on making one decision at a time, breaking a large problem up into smaller, manageable tasks.
- Prioritize expenses
- Create a household budget
- Track your spending
- Reduce expenses
- Start saving
How you respond to these tasks is worth noting. Then, once you recognize how your behavior responds to financial worries, you can make adjustments to improve your life.
For example, many people react to tough economic situations by engaging in unhealthy behaviors, such as gambling or turning to alcohol. Then, more problems start, such as conflicts between spouses. Instead, notice your frustration and pursue proactive ways to change your circumstances.
Start Small When Coping with Financial Worries
Changes don’t happen overnight. Once you commit to combating your financial issues, be kind to yourself throughout the process. Like many things in life, money management is about building good, healthy habits.
Decide where to start and focus on one goal at a time. For some that will be paying off debt, for others it will be building an emergency fund. Pay attention to the numbers in front of you, avoid the temptation to be distracted by large figures. So if you have yet to save, an article stating you need an emergency fund that can cover a year of expenses may be overwhelming. But remember that tiny shifts can lead to big rewards. Simply begin the process of putting a little bit away.
Self-awareness can help you cope with financial stress, and there are support systems available to help you through the process of financial planning. Many are triggered emotionally by money. You may feel insecure when it comes to finances, some even question their own self-worth. But you are not defined by your bank account and help is available. Talk through your concerns with a professional and put a plan in place. Then, you can move forward with confidence.
Kendall Van Blarcom is a senior helping seniors. Contact Van Blarcom Consulting today for help with your personal problems. Or, reach out to provide support for an older adult in your life.
