The definition of financial stress according to financial wealth institute. A condition that is the result of financial and/or economic events that create anxiety, worry, or a sense of scarcity, and is accompanied by a physiological stress response.
Financial stress is a widespread experience in every area of our society. It is said that about 72 percent of us are stressed about our financial state and another 22 percent of us are on occasions extremely stressed
Financial stress is the cause of some of our health problems like depression and lack of restful sleep
The cost of living is on a rapid increase and with this brings the feeling of increased financial stress.
Financial Stress and our health
Being stressed over our financial situation can affect our health in negative ways. Some people facing financial stress may be drawn to the bad practice of consuming alcohol or smoking or overeating or even hard drugs to dull the reality of their financial stress. Unfortunately, these practices only lead to more stress.
Due to the lack of money healthcare is often times neglected. People under financial stress tend to cut corners to pay for everyday necessities like food, rent, electricity and gas for the car or bus fare and because small health problems are left unchecked and the small problem become a larger problem leading to more stress.
When we are undergoing any kind of stress resting and sleeping is almost impossible and being sleep deprived leads to other problems like functioning effectively, and cognitive abilities and that in itself cause us to become moody.
The use of credit cards just lends to a false sense of security, Its so easy to use the credit cards to buy stuff but then the sense of hopelessness frustration and anxiety when the debt starts piling up and it seems the more money you pay on the cards the debt seems like it is not going down because of the high-interest rate This causes additional stress and depression and these emotions can spiral down to mental depression.
. How to Cope
Here are some suggestions’ to enable you to handle your financial problems and allow you to be more in control of your life and financial situations.
Understand how we first got into this mess, one financial decision at a time. When people are faced with multiple, back-to-back decisions that test willpower,
Making Financial Decisions
Do not make too many financial decisions at the same time space them out making too much decision at once will leave you overwhelmed.
Keep account of your spending. Keeping track of what and how you spend is an effective tool for getting out of debt
Knowing when and how to get money is key to getting out of debt. Knowing how to increase your income without creating more stress for your self can be a bit tricky
Learn to cut back on spending living on less is important this action alone can grow your savings. Have a plan, having a plan will help you to live within your means don’t be tempted to spend outside what you have budgeted for.
Get a side job there are lots on online jobs but be careful a lot of them are scams If they are asking for money to get you a job that is more than likely a scam
And if they saying you can make thousands of dollars income and little or no work be careful that sounds like a scam.
I have a suggestion for you, Wealthy Affiliate — is an online business training launched in 2005 and has now more than 100,000 active members sharing experiences and helping each other succeed. It specializes in the affiliate marketing model of passive income
The WA family is very active and very helpful in sharing their knowledge and experience to help you to attain your goals, it is not a get rich quick plan or scheme but you are taught how to build a website and with time and patience you will be able to make a passive income there is so much information that is presented to you just apply what you have been taught and have patience. And you can join for FREE and see if you like it (I am sure you will)
Remember that commercialism can overshadow the true sentiment of the holiday season. When buying gifts for family and friends remind yourself that family, friends, and relationships matter more than material objects.
By following the suggestions’ above and making life changes you will get out of debt, it may not be overnight but it will happen. Remember you did not get in debt all at once it happened bit by bit
Thank you for reading this post, please like and share, and you can leave your questions and comments below in the space provided at the bottom of this post and I will respond ASAP,
NOTE: This post includes affiliate links, which, if clicked on and a product purchased, I get a small commission (with no increase in cost to you).
To help to relieve some stress here is a link with some easy exercise.
In just 15 minutes, you improve your flexibility, mobility, and functional fitness.
Posted by SilverSneakers on Wednesday, June 27, 2018