Free From Finance Worry
There are a lot of different reasons you may be feeling some financial stress. Whatever the reasons, it impacts other areas of your life. Financial worry is one of the largest stressors in relationships and can be a big distraction at work. There are things you can do to help.
It is estimated that workers spend about 150 hours per year, 3 hours a week, worrying about money issues. Problems understanding and managing personal finances are more widespread than thought.
Top issues people worry about inc lude: monthly expenses saving for retirement managing credit card debt planning for or meeting long-term healthcare costs
Reduce your worry so you can focus on positive areas of your life. Review the tips below and get a plan in place. It can help you feel more relaxed, in control, and focused.
1. Create a budget. Start with one month’s of expenses and look at where you spend money. Use the information to create a plan focused on where you want to reduce spending and where you want to save. Just thinking about it may sound overwhelming, but once you get started it can help you feel more in control.
2. Build an emergency fund. Include an emergency fund in your budget. Knowing you have money in the bank to use for unexpected emergencies such as car maintenance, home repairs, and last minute expenses can relieve stress. Start small. Anything from $50 - $200 per month adds up overtime. It is good to have about four to six months of expenses saved up.
3. Get outside help. Take a basic money management class or ask for help from a friend or family member you trust. Once others know it is a priority of yours they can help you stay focused and accountable. If credit debt is overwhelming you, use a credit counseling service. Sometimes talking over it with someone can help.
4. Discover what you can change. Recognize what your spending habits are like. If you don’t make enough money, explore what you can do to change the situation. Look for a higher paying job or something on the side to supplement your income. If you know you are a shopaholic or can’t pass up Starbucks on your way into work, see where you can make a change. Take small steps and if you lose track one week, get right back on your path.
5. Recognize the positive. Tracking your progress and seeing how much you have improved can help you reduce stressful feelings. Doing things you enjoy, getting regular exercise and taking care of yourself helps you focus on what you want out of your life and finances.
Consider talking with your Elevate Wellness Coach. As an EMI Health member it is free of cost and we can discuss resources and help support you in meeting the financial goals you set for yourself.
Call 1-855-586-2575 or send an email to get started today!