Will I be able to pay my rent this year? Am I going on vacation this year? Will I have to walk to the office this month? Is food about to be a myth this month? Falling stocks, rising inflation rate, increasing unemployment rate…we will always have legitimate reasons to experience money anxiety. Only a few things scare us more than having our ATM cards rejected. We cringe at the thought of dealing with unplanned expenses. We obsess over frugal spending and get anxious whenever we receive our bank statements.
Dear W, this is no way to live at all. The feelings of worry, depression, and stress that comes with money anxiety significantly affects our physical and mental health, relationships, and lifestyle in general. Now more than ever, we need to get more proactive about taking charge of our finances. Here are 3 tips we can begin with:
Can’t Pay for it? Drop it!
If you cannot pay for it at the point of purchase, drop it like it will burn your fingers! Debts will always be a constant source of worry and anxiety as long as you keep accumulating them. We need to be honest and live within our means. Look away, sleep over the seemingly ‘must-have’ and trust me you will wake up with other things on your mind. Congratulations! You have just saved yourself the stress lines that comes with the pressure of paying back.
Automate your financial activities
We have been rescued from the stone age thanks to technology, you can now automate your financial activities. What this means is that you can worry less about missing payment deadlines and the overwhelming thought of all you need to pay for as the money will be automatically deducted from your bank account. You can set spending limits, keep track of your expenses, and automatically save towards a particular goal.
Engage the services of finance experts
I know, I know, finance experts, gurus, managers, therapist, or whatever name they go by, initially seem like a cost you would rather avoid, the long-term benefits are worth the investment. Shockingly, they actually can help us find, maintain, and enjoy financial freedom. They have been trained to offer us the best of financial advice and help us make the best choices.
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