5 Tips for Handling Financial Stress
Sure, money cannot buy happiness but it definitely does create a sense of security and peace of mind when one has financial stability in their life.
Today’s society applies so much pressure on an individual and financial success is on the top of that checklist. Money has ranked to be one of the topmost priorities by the majority of the population.
As a result of these expectations and trends, it has also become the topmost cause of worry in adult life and often leads to financial stress, anxiety, and depression.
In addition to affecting your mental health, it also affects your quality of life due to a lack of resources to maintain health and other recreational purposes. Moreover, depression could also lead to unhealthy habits like overeating, excessive alcohol consumption, and sleeplessness.
This is why during times of stress, it is important to learn to be able to handle it in order to be mentally and physically strong enough to overcome such problems.
Remember, overthinking or panicking will only cause more problems for an already stressful situation. Therefore, stay calm and collected instead of adding more problems to your plate.
Here are some tips for handling financial stress:
1) Try General Stress Management
There are numerous ways to handle stress and ensure the time needed for your body to recover from stressful events. They include:
Ensuring enough sleep and rest
Exercise regularly and stay fit
Don’t rely on drugs and alcohol. It will only provide temporary relief with damaging effects later on.
Surround yourself around a supportive, optimistic, and positive environment.
Be more assertive to your feelings and less aggressive. It will help you think more clearly and rationally.
In any stressful situation, it is important to find something positive to focus on. This is because optimists are better planners.
General stress management
2) Don’t Compare Yourself
One of the biggest and most common triggers of financial stress is envy when you look the other way and see someone else thriving with a better house, a better car or a better financial status in general.
As Buddha once said, “He who envies others does not obtain peace of mind”. Thus, it is important to stop comparing yourself with others as there will always be someone one step ahead and one step below you and there is one point getting trapped in that inevitable rat race.
Therefore, once you stop comparing yourself to others, you will find yourself in a more peaceful and less stressful environment. Moreover, you will also start to be more appreciative of life and have the right mental space to excel and overcome difficulties or hardships.
3) Seek Help or Guidance
It is important to communicate your feelings to your loved ones and surround yourself with positivity.
However, it is understandable if you need more professional help and your friends and family may not understand or financially be on the same page as you to be able to give the right advice.
Thus, it is important to reach out to counselors, financial planners, or mental health professionals who are trained to guide your financial life while still taking your mental health status to account.
Caption: Fixing financial problems, Image Cedit:Credit: Pixabay
4) Learn and Grow from the Problem
Growth and progress only happen when you make a mistake. Thus, mistakes are an important, natural and inevitable part of life.
Assess the situation and evaluate your mistakes and errors that have led to this crisis. It may be due to some type of addiction, a spending problem, poor judgment, or even bad business decisions.
Once you come to terms and accept the problem, you can get the necessary or required help, if needed. This will inspire you to get up and go on your feet to deal and grow from the issue.
5) Come Up with a New Plan and Be realistic
Once you assess your problems, come up with a new plan and solution to fix them. For example, if you have a shopping addiction join a shopaholic anonymous meeting for help and support, or if you have made a business error, visit a financial advisor or join some courses that will increase your business skills.
Start fresh, set a goal, and consistently work towards that goal. However, one must remember not to initially set the bars too high to an unachievable point. This is because high and unrealistic expectations can crush your mental health when you fail, especially when you are just recovering and are in such a fragile stage.
In conclusion, it is good to push yourself in order to succeed but remember to be gentle and considerate of your mental well being.