Powerful Tips To Conquer Your Financial Stress

Losing your primary source of income, drowning in a sea of debt, and other money problems can affect both your financial circumstance and your self-esteem. It is normal to feel anxious, stressed, and worried when times are hard but that does not mean that you are suffering from depression or anxiety disorders.

In fact, according to an international poll by Reader’s Digest back in 2009, Singapore was one of the countries most worried about money. When not managed, the financial stress can be detrimental to one’s health.

Here are some tips to conquer your inner beast:

BREATHE IN AND OUT

Avoid excessive thinking by slowing down. Whenever you feel like you are going to burst, calm yourself down. Breathe in and out, hold your breath for a while, breathe slowly and repeat. A higher form of this practice is called meditation.

If you need a guided tutorial to aid you through meditation, you can download the free “Take a Break! Guided Meditations for Stress Relief” app on your iOS or Android device. You can choose to listen with or without the music as you listen to the 7-13 minutes of guided meditation. No prior experience required!

LIVING IN THE PRESENT

Several financial woes come from the anticipation of unfortunate future events. Sometimes, these anticipation is more than just pure exaggeration. This is why you must remind yourself that you are living in the present moment – not in the past, nor in the future.

Stay active in the present by being completely in control. Keep your C.V. updated, pay the bills on time, and jog outdoors!

RECOGNIZE YOUR STRENGTH

In general, the uncertainty and perceived lack of control can make the person feel more stressful. But as I said, you are living in the present moment where you are in absolute control of your actions and your thoughts. Recognize that your decisions exist for you to improve any financial dilemma.

SHARE YOUR EXPERIENCES

When your financial circumstances is too hard to handle, seek refuge from the people who can offer you the listening ears (e.g. friends, family, support group or financial professional). These people can offer sound solutions and make you feel better. Personally, I find this tip therapeutic as I can freely express and let go of my worries and share it to a person who affirms and understands me the most.

COUNT YOUR BLESSINGS

Before you go to sleep or the after you wake up, think of three things you are thankful about. This changes your focus from your financial stress to the beautiful things that you might have taken for granted. It does not have to be a big and lavish thing as you can be thankful for the picturesque sunset.

Image Credits: pixabay.com (License: CC0 Public Domain)

Image Credits: pixabay.com (License: CC0 Public Domain)

Practicing this activity often will help you gain a positive outlook in life and an increase in overall satisfaction.

Sources: 1, 2, & 3

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4 Ways To Stop Your Couple Woes Over Money

They say that love is unconditional, selfless, and priceless. But the truth is, you have to spend money for roses, dinner, or even diamonds during special occasions such as birthdays or Valentine’s Day. And these gifts do not come cheap! The influence of money on the relationship does not stop there. It is significantly present in marriage. In 2012, a study found that the more regular couples argued over money, the more likely they were to get divorced.

There are different reasons why couples have dispute over money. One reason is the opposing views that deeply affect their values to the point that it is hard for them not to be self-righteous in the subject. Although, if both parties truly love each other and are willing to work things out then, they can set their differences aside. Here are 4 helpful ways to stop your couple woes over money…

1. DISCUSS YOUR VALUES ABOUT MONEY

To prevent another issue to boil, understand each other’s view by explicitly discussing your differences on financial issues. For example, if your partner is a saver then, he or she may view money as an important currency that shall not be wasted.

Learn put yourself in your partner’s situation (i.e., spender or saver) by recognizing his or her financial strengths. For example, if you are buying a washing machine. While a saver may lean towards a cheap and used machine, a spender will want a costly and new machine. Compromise by combining the saver’s ability to get a good deal with the spender’s ability to commit to a new purchase.

Related Article: Psychology of Spenders and Savers

2. RELAX AND WRITE

When faced in a situation where you are already frustrated and about to burst, take a step back from those feelings. Avoid blaming or shouting at each other. Instead, write down your feelings or values about money and how you want your money dynamics to change for the better. When your temper is gone, exchange letters to know where your partner is coming from. If you want to break the cycle of feud, you have to work together to a fresh start.

3. PRODUCTIVELY PLAN TOGETHER

Ensure that you will have a productive and open communication on your financial goals and new budget plan. Change can be difficult and you may need to remind each other of your dreams and budget from time to time.

4. ENCOURAGE INDEPENDENCE

Although you have a joint bank account, you may want to have separate bank accounts for your personal finances including buying gifts for your spouse or child. This degree of financial independence can help you deal with the changes better. Keep in mind that you shall still honor the new budgeting scheme and financial goals even if you have a personal account.

Image Credits: Robert Bejil via Flickr

Image Credits: Robert Bejil via Flickr

In resolving your money woes with your partner, it is important to keep an open mind. Remember that it is not about winning or superiority, instead it is about understanding your partner’s perspective on money.

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