2007-Oct-31 - Managing Money Stress

Financial stress is a common problem. Millions of people struggle with their finances and experience stress related to money. The good news is that you can actively combat the problem with a variety of strategies. Managing money stress is important for your bank account and your body. Any kind of stress does a number on your body. Immunity is lowered and flight or fight chemicals are released. Because of this, it is estimated that as many as 80% of doctor visits for various illnesses are stress related at their core.

The first part of taking care of financial stress management is identifying your problem areas. If you have too much debt, that should be a definite area of focus. Maybe you don't have enough savings. This is another area that you can work on. Make a list of all the ways you could improve your level of financial stability and security. This list might include things like pay off debt, save more money and invest more money. Then figure out how you can work towards your goals and make progress in these areas without overstressing yourself. You don't want to set your goals to an unattainable level or you will constantly feel inferior.

Another part of dealing with the stress caused by money is to examine your attitudes towards it. Many people grew up hearing that money is the root of all evil. These people may have a poor relationship with their money. Another common problem is feeling like you don't deserve to have money. The key is to teach yourself that money is neither good nor evil but neutral. By having money you can do more good than you can if you don't have money. Confronting your archaic beliefs about money can be difficult but is an important part of straightening out your finances.