Money is one of life’s major causes of stress and has a direct impact on your physical and mental stress. It’s estimated to affect approximately 75% of the population. WOW! Money is also one of the leading causes of divorce. Money issues cause stress, which can lead to arguing and a lack of communication, which can lead to a lack of trust and then can lead to divorce. But wait! There’s good news! There are certain things you can do to stop worrying about money to improve your well-being. Let’s get you in the 25% with the following three steps.
1. Make A Plan
This again. It seems to come up in every area of your life. Everything always starts with a plan. If you don’t know where you want to go though, how will you ever get there? And if you know where you want to go, but don’t make a plan to get there, what’s to say that’s where you’ll end up? Are you leaving it up to fate? Getting clear on your plan and the steps you’re going to take to get there, will help with your success.
Think back to anything you’ve ever wanted in your life and you’ll notice that you always had a plan. That house you wanted to buy? You had to go find it. It didn’t just fall into your lap. Then you had to make sure you had the money to buy it. Maybe you had to save for that first or ask someone for help. What about that job you wanted? Maybe you had to get some education first to make sure that you had enough knowledge. You also likely had to apply for the job, which meant you had to make a resume and send it out.
The path could have looked like this: decide on career – get education – make resume – apply for job – interview for position – accept position. The path could have also looked like this – become a hard worker – be recognized for going above and beyond – be offered the position you desire. It’s important to recognize that there can be more than one way to reach your goal. What matters is that you make a plan and adjust it as you go along when you figure out what works and what doesn’t, while keeping the end goal the same. If you don’t make a plan for what you want your money to do for you, then you may or may not accomplish that. So why not give yourself a better chance at being successful?
There are also times when unforeseen expenses come up, like the broken window from the that time the kids were playing baseball in the backyard and smashed the window. OOPS! Or that time when you were in a hurry, totally missed the stop sign (geez I hope everyone is okay) and got a ticket. Or maybe someone close to you passed away and you have to travel to attend their funeral. Being prepared by having a plan in place to deal with unexpected expenses will help you not get as stressed when they come up, eliminate worrying about the what-ifs and let you continue focusing on the things you really want to focus on – like enjoying your life!
2. Protect Your Money
People who don’t worry about money not only have a plan in place, they also protect their money. So what do I mean by this? Well, you often hear stories about people playing the stock market and getting lucky, but this is no different than winning the lottery. If you buy lottery tickets every week, then you’re definitely increasing your chances of winning the lottery over not buying tickets at all. BUT – there’s always a but. Instead of putting your money towards something that has a better chance in growing your money, you’re hoping you will get lucky. Well I’m here to tell you – hope is not a strategy.
Back to protecting your money. Buying the boring investments, yet ones with a CONSISTENT return, is a great way to protect you money. I know, I know. BORING! So what if you worked some flexibility into your plan. Maybe you want to try your hand at the stock market. There’s nothing wrong with taking a small amount of the money you set aside in investments, say 5%, to give it a shot and have some fun with it. If you already know that it’s money you’re ok with losing and still have most of your funds protected, then you will enjoy the whole process more too.
3. Ask For Help
Always ask for help. There is ZERO shame in not knowing how to do this on your own. Maybe numbers aren’t your thing. Maybe the thought of making a plan and dealing with this area of your life sounds sooooo boring to you, that you just completely ignore it. What I know is that there are two types of people in this world. People who get really excited about numbers and spreadsheets (TOTALLY ME!!!!) and people who wish someone else would take care of it for them. That’s ok! Maybe you get really excited are are really knowledgeable about something else. When you accept that you’re not supposed to be good at or like everything, asking for help will be easier. There are lots of people who would love to help you in this area and want to see you succeed!
Once you start making a plan, you’ll be able to identify your weaknesses if you’re not already aware of them. Some people can’t resist spending hundreds of dollars at Costco even if they don’t need it or can afford it. Some people cope with their emotions by shopping online. Some people have other unhealthy and expensive coping habits like smoking and drinking. Once you can identify where your money is going and why, you can ask for help in overcoming the challenges you face and get you on track with your plan.
Dealing with the things that stress you out, overwhelm and frustrate you is key to living your best life! We all have struggles. It’s HOW you deal with your struggles that will determine the quality of your life. Ignoring problems never made them go away and definitely never made them better. Money doesn’t have to add to the normal stress in your life. The solution is simple: make a plan, protect your money and ask for help. Eliminating this stressor will allow you to focus your energy on things that bring you joy!