Money can be one of the worst things for making you worry; indeed, a lot of people can feel like their mental wellbeing has been effectively ruined over their financial insecurity. It’s a very serious thing – almost half of the people currently in debt also report having mental health issues.
If that also sounds like you, being able to take more control over your finances is key for achieving greater peace and stability in your lifestyle. Of course, learning to live with and/or manage your money worries is only part of the solution, but it’s essential to do. But don’t worry, you don’t have to take this challenge on alone – here are some tips for stopping your money worries from overwhelming you.
Don’t ever let your finances go unchecked; face your fears and confront the problem head-on by keeping up with how your bank account, credit scores, and any other financial platforms you’re a part of our functioning.
Because when you’re aware, you’re in control. You’re able to face the problem, and prevent it from becoming a bigger problem before it ever gets the chance to. And you can make this easy for yourself. For example, if you’ve got car insurance to pay for, be sure to make it easy to check in with by using something like a direct auto insurance account to keep up to date straight from your phone.
The next step is to be realistic, which can be a hard thing when you’re finding it very hard to face the reality of your finances. However, when you’re realistic, you’ll be able to put together a workable budget, that allows you to take care of yourself and pay for any debt and other financial obligations you have.
Start with your income, and then take away your expenses, both fixed and variable. If this all fluctuates, use a monthly average. Whatever you’ve got leftover is what you can put towards those credit card bills, and use to bump up your credit score bit by bit. Even just a couple of regular debt payments can turn it green again.
Finally, if you’re someone who has serious money worries, don’t let yourself be alone in facing them. Talk to friends and family about them, or work with a professional such as an advisor, who could help you to see the light in your struggles.
Most of all, make sure you feel supported, and like you’ve got some strength behind you. Even if you need someone to be there with you when you check your bank account for the first time in months, ask someone to come round and sit with you. It could really change how you see your finances.
Money worries can be overwhelming, at their worst. Be sure to reach out for help, and always try to face your fears, as you have the power to take control of a problem like this.
This is a collaborative post.