6 Ways to Manage Financial Stress And Be More At Peace
Whatever the circumstance, being worried about money takes a toll on you mentally and physically, plus it can strain relationships with your significant other, family, and friends.
What Causes Financial Stress?
The main causes of financial stress are typically from rising debt, losing a job and wondering how to pay bills, medical bills, or spiraling into a lifestyle you can’t afford.
Statistics Around Financial Stress
- A survey by Northwestern Mutual found that money was the dominant source of stress for 44% of Americans. - Financial firm John Hancock’s Financial Stress Survey found that 69% of workers were stressed over their finances, with fully 72% admitting to worrying about their personal finances at work. - 72% of adults report feeling stressed about money, whether it’s worrying about paying rent or feeling bogged down by their debt.
1. Find your financial anxiety triggers
How Do You Relieve Financial Stress?
Whatever the case, make sure you sit down and really think about “what” and “why” these areas trigger your financial stress. This can be the first building blocks to creating a financial plan for yourself.
2. Learn how to handle money stress
How Do You Relieve Financial Stress?
Look for healthy ways to manage your stress like working out, taking a walk, listening or creating music — or anything that helps you relax and think more logically.
3. Tackle one issue at a time
How Do You Relieve Financial Stress?
Space out how you work on your finances, otherwise you risk getting more overwhelmed and wanting to give up.
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