Often a primary factor that got us into the money mess we find ourselves is that we did not have a plan to begin with. You can greatly improve your chances for success, and help relieve financial stress, by making a financial plan and sticking to it.
Here are 5 tips to help you deal with financial stress:
1. Find free ways to reduce stress. Don't compound your financial troubles by spending money you don't have, don't go shopping, don't join a gym, don't by a new T.V., instead, be creative and find no cost ways of relieving stress. My favorite is simply taking a walk in nature.
2. Taking personal responsibility for your financial situation is very important. Stop playing the blame game, look in the mirror and accept that you had a hand in getting yourself into the current situation. Once you acknowledge this it will set you free to find creative solutions to the problem.
3. Generally now is not the time to take big risks. When we are under pressure our decision making suffers, financial stress can often cause us so much anguish that our judgment becomes cloudy and we are prone to making rash decisions that are not in our best interest.
4. If you can open up to a family member or friend it is best to do so, and certainly if someone else is personally involved it is best in the long run not to hide things. Be certain that your confidant is actually able to help, there is nothing worse than taking financial advice from someone that is poor at managing money themselves.
5. Have a garage sale. No, I am not kidding. A garage sale does two things to help relieve financial stress: first, we can earn some extra money by selling things we don't need or don't need, and second, it helps eliminate clutter in our lives. Studies show that clutter leads to high levels of stress for many of us, so if we combine clutter with our financial stress the result can't be good. Have a garage sale and while you are at it, toss away anything else that is adding clutter to your life.