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Tips for Relieving Financial Stress

Relieving Financial Stress

Looking for ways for relieving financial stress? Money woes can affect more than just your bank account. It can cause havoc on your physical, emotional and mental health as well. Financial stress can cause headaches, body aches and contribute to high blood pressure and other physical ailments.

Well, there’s some good news. Financial stress can be managed and relieved. It is said, “Peace of mind is a gift that you give yourself.” So, here are six simple and free ways for relieving financial stress.

Name Your Dollars

Based on a Gallup’s annual Economy and Personal Finance survey, two-thirds of Americans do not prepare a written budget. Not having a written plan or budget can cause financial stress because it leaves room for overspending and possibly neglecting what’s necessary for financial success and happiness, like saving for emergencies, retirement and especially fun. Regaining your cash control by naming your dollars with a budget or spending plan is one of the best ways for relieving financial stress.

Don’t Beat Yourself Up

Hey, we are all humans, and we slip up sometimes. Maybe you overspent when you went shopping or dining out with friends, or your checking account was hit with overdraft fees because there wasn’t enough in the account to cover checks or debit card transaction. Dust yourself off and make sure that you minimize those money mishaps as much as possible. Although painful at times, money mishaps teach valuable lessons so that you can make better financial decisions in the future.

Ask For Help

Some financial matters can be complicated or overwhelming. Many people get stressed because they feel like they are all alone when dealing with financial hardships or problems. Asking for help or guidance from your financial institution, a financial professional or organization, like CESI Solutions, will help you create possible solutions and relieve your financial stress. Also, don’t forget to include your family in a positive way. It is a team effort, and everyone has their part to ensure success with the family finances.

Take a Break

Sometimes it is best to step away from what is stressing you the most for a moment. Do something healthy and fun to help take your mind off your financial stress. Doing activities like playing with your children or pets, going for a walk or run with friends, having a movie night at home with your family or listening to your favorite music are great stress relievers.

Increase your Financial IQ

Read personal finance books by experts or personal finance blogs, like CESI Solutions Blog, to enhance and increase your financial intelligence. Learning more about money, credit, saving and investing can give you options to help your financial situation, eliminate financial fears and relieve financial stress.

Make your Financial Goals S.M.A.R.T.

Financial goals that are too big, complicated or unrealistic can stress you out. Make your financial goals “S.M.A.R.T.” Simply take your large financial goals and break them down into Small, Meaningful, Automated, Repetitive and Timed goals. This will make reaching your goals more attainable and help relieve your financial stress. For example, don’t focus on and stress over a large goal, like “having six months income in a savings account.” Create a “SMART”-er goal, like “save $1,000 in twelve months by direct depositing $83 monthly into a savings account for emergencies.”

Doing these simple and free things will prepare you for taking the next positive steps towards your financial success and live a financial stress-free life.

Image Source: Flickr

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1 Response to Tips for Relieving Financial Stress

  1. Awesome post!

    I really like SMART in setting goals. Pretty cool twist on the SMART that I used to teach to first year college students.

    Looking forward to reading more!

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