Stress and well-being are very important factors in our lives and there has been study after study about them that show how much stress can affect our well-being and general happiness. One of the most commonly occurring and leading causes of stress in our lives is money... and not because you have more money than you know what to do with. – That would be a rather good problem to have. Second and related to money, comes work in position number two, as the other major source of stress in our lives.
For many people, it´s a rather vicious cycle that goes something like this: the more anxious and stressed we feel about money, the more distracted and less productive we are at work, which in turn leads to more stress! Stress takes many forms, whether it´s stress about your mortgage, being in debt, overworked, or a lack of job security. End of the day, when money and work stress are combined, they can be the cause of many serious health issues from heart conditions to strokes.
So how can we go about reducing financial stress in our lives?
Acknowledge Where You´re At
They say the first part of getting through something is admitting you have a problem. Take a long, hard look at yourself and your life and acknowledge the fact you are experiencing stress concerning your finances. There’s nothing to be ashamed of, we’ve all been there. The next step from here is to understand that through commitment, some hard work and some clear thinking, you will get on top of it.
Start the conversation about your finances. Consulting a financial expert, family member, or friend to discuss things is a great way to start. Then set a budget, setting monthly, quarterly, and yearly targets, and identifying expenses you don´t need. These expenses can be anything from reducing how much coffee you drink to your cable subscription, or perhaps even you could swap your car for a cheaper model to run? These are all powerful tools that can help to put you far better in full control of your finances.
Every Problem Has a Solution
Remind yourself that most problems are really not "life or death" issues. Almost every problem can and will be solved sooner or later, so knowing there’s always a light at the end of the tunnel can help to relieve the tension. If you are in a situation where you need money at short notice there are options out there, you can borrow from family or friends but if that’s not an option, there are solutions like Ferratum who can help with a short-term loan.
The most effective way to relieve financial stress
The growing movement behind meditation and mindfulness practices have proven that these practices might be one of the most effective ways to ease stress. A daily practice of meditation has a proven ability to reduce anxiety and help to promote relaxation in both the body and mind. There are so many resources out there to help you learn and practice meditation in its many different forms, have a look around online and see what works for you. The important thing is to get practising and take the time to relax and meditate for even just 10 minutes a day.
You can use meditation practices not just when you´re feeling panicked but on a daily basis. Performing meditative breathing exercises for 5 or 10 minutes per day can help you to regain your sense of calm and can really make a world of difference to your life.
Final thoughts on reducing stress
At end of the day, no matter the source of stress – financial or work-related it’s impossible to put on a price on your health and wellbeing so make sure that you take it seriously and reduce stress in your life. The other way to help reduce stress is to always be prepared with something like an emergency fund of cash you have saved for a rainy day, so get saving now!
Like this post, if you thought it was helpful. Share this post if you know others who might find it inspiring. More great stories and tips on our blog!
Want to know how Ferratum can make your life easier? Learn more here!