While a certain amount of concern about money is healthy, when it turns into anxiety or worry, it can adversely affect your health and relationships. These tips can help you address those moments to prevent yourself from spiraling into the worry pit.
If there’s one thing that can keep you up at night, it’s debt. The good news is that if you hit the worst of it (think those with the highest interest rates) head-on and try to pay a bit more than the minimum, you can start to whittle away at it and stop losing sleep.
Recognize your patterns, and then fix them. If you’re spending too much eating at restaurants or shopping for clothes or other things that aren’t necessities, admit it to yourself and make a plan to change those behaviors. Once you commit, you’ll find it’s easier than you think.
Part of the worry about money can come from not knowing exactly what your situation is. Set a regularly scheduled time to look at your financials and you’ll remove a bit of that of uncertainty. You can fix anything that seems amiss and maybe you’ll even see you’re not as bad off as you think.
Make your money make money. Trying to pay attention to all the different aspects of the economy can make anyone anxious. You don’t need to know all the ins-and-outs of the stock market to start investing. A financial advisor can tell you what kind of investment plan would work for you and get your money working for you.
Finally, take a moment to feel grateful for what you have. It’s been proven that the simple act of expressing gratitude can make us feel happier. Giving, whether to loved ones or to charity, can do the same. Share when you can and it’s sure to replace that worry with gratitude.
At Baron Financial Group, I am more than happy to help people of every age and stage get the education you need to put you on the right path to reach your individual financial goals.
Sources: Forbes, The Balance, Fortune