Managing Financial Stress

Financial stress is yet another serious stress related topic. When you checked out your bank account and found that you are just left with very little amount in your account. You’ve received at least three phone calls this morning from creditors who are wondering why your payments are late.

Your car installment to be paid is due in three days and you’re not sure about how you are going to pay the bill payments. Last month, your property-owner threatened to force to leave you when your rent check did not arrive on the first of the month.

If this situation sounds familiar, you may be undergoing financial stress. From time to time, all of us suffer from financial stress, to one degree or another. Financial stress is simply a reality of modern life.

No matter how hardworking we are, no matter how diligent we are at saving our money, we may find difficulty in paying all of our bills. This can be particularly true if we’ve been hit with a major upsetting event, like a serious illness, the death of a spouse or a divorce.

Different Ways the Financial Stress can be felt

We can fell the financial stress in number of ways. For example, with the worry of your finances, you might have difficulty sleeping at night. You may find yourself yelling at your children for minor infractions.

You might find yourself short-tempered and as a result, you might encounter into conflict with your spouse or you may even be hit with panic attacks at work. The fact is financial stress can cause you incredible physical and psychological discomfort.

Effects of Financial Stress

It can lead to depression, anxiety, high blood pressure and even a stroke. For this reason, financial stress is actually a serious, though often unrecognized, health concern. In essence, your financial stress may be making you sick.

Financial Stress Treatment

But how do you address the financial stress, which seem to be an impossible problem. First and foremost, it is important that you consult a doctor and have a complete physical examination. Inform your symptoms to doctor, and note that you believe that financial stress may be the cause.

Your doctor might then refer you to a psychiatrist for anti-anxiety medication, otherwise to a therapist who can help you work through your problems. After that consult a certified financial planner.

The financial planner will show you a way out from this financial stress and help you to realize your short-term and long-term financial goals. Don’t hesitate to tell the financial problems to the financial planner. Remember that the only way to really attack financial stress is to meet the difficulty head-on.

Your problems will worsen at end, if you try to move the problem, pretending that things are not as bad as they are. Your financial planner will probably want you to come up with a workable budget.


It is important to be realistic when working on the budget. It does little good for you to come up with a budget that looks fine on paper, but that doesn’t work in the real world. Budget should cover all the essentials like food, shelter, clothing, and medical care.

And also try to budget for long-term priorities, such as college savings or retirement.

Lastly, at least a small amount of budget should be allotted towards recreation and entertainment, as you will need a few entertainments in order to live a less stress life.

First, you might want to track every single-expenditure that you make. This can be difficult, especially if you’re not used to that kind of record keeping. But it can be quite informative.

You might not understand, for example, just how much money you’re spending on lattes each month, or how much you’re allotting to the daily lottery drawing. You might discover, that you can trim your budget without really feeling the pinch with the help of the record keeping.

It is also highly recommended that you save a portion of your money in order to pay for the unexpected. From time to time, all of us are hit with bills that seem to come out of the blue. This savings will act as a kind of insurance policy against disaster.

Even if it is a small amount in the beginning, you’ll be better able to weather the financial crisis that come in your way, with some money in the bank. And you might find those middle-of-the-night worries vanishing, knowing that you are doing all you can to get your finances under control and so as your financial stress.



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