Are you up at night wondering how you are going to tackle that pressing financial issue? Do you tense up or stress out when it comes to talking about or even thinking about your finances? Well you are not alone! According to Statisticbrain.com, money is the #2 cause of stress in the U.S. I read an article on CNBC that estimated that about 75% of people experience financial stress at some point in their lives. Wow! Stress due to finances is very real and can wreak havoc on your mental and physical health.
Financial stress is generally brought on by things such as having the incorrect mindset when it comes to your finances. In addition being unorganized, having high debt, experiencing a job loss, having insufficient income and/or not knowing what to do. The best way to reduce your stress and get back on track financially is to seek the advice of a professional who can guide you and provide you with the necessary information. Ultimately it is your responsibility and you will have to do the work.
In the past I was one of the 75% of people experiencing financial stress. At that time, my financial stress was caused by different things including personal missteps and not facing and taking control over the situation. I would do anything to avoid thinking about or talking about my finances, it literally gave me a headache. One of my “coping” mechanisms was to avoid opening mail. For me it was a way to temporarily reduce my stress level but in reality it only prolonged the inevitability of me having to resolve what I thought was an insurmountable financial task. Believe me when I say, the worse thing you can do is NOTHING! In the midst, it felt like the weight of the world was on my shoulders and I couldn’t see the light at the end of the tunnel. If I knew then what I know now, I would have done these 3 things immediately:
- Changed my MINDSET about my finances.
- Focused on setting goals and creating a financial plan.
- Talked it over/worked through it with a trusted partner.
So if you are currently experiencing financial stress take a deep breath. Its not going to be easy and there is no need to go it alone, all too often people spend too much time avoiding or trying to solve it on their own. If you are ready to reduce your financial stress then Money Choices Today can help!