How to Focus When Stressed Over Money

By Steven Barasch:

If you’ve found yourself in a bind, don’t be afraid to call 2-1-1. This service is from the United Way and is there for people struggling with affordable housing or utilities. You can enter your location on their site, and it will show you what services are available nearby that may help! When using this service, please remember if you’ve never asked for help before, then it means that’s something new to discover about the options out there! Head over at 211.org

Money is the root of all evil, right? Wrong. Money is the root of stress, which can be bad for your health. There are many ways to reduce your financial stress. Yes, the walls are closing in on you, you’re losing sleep and your appetite barely exists. You’ve been through the numbers so many times that the bottom line is a red splat of blood in the shape of a minus sign. Your stress levels are the only thing that’s up. Truth is that red minus sign isn’t going to go away that fast. If you’re doing everything you can about the financial issues, stressing out isn’t going to change it. But it will change your health, your outlook, and your job performance. 

When you’re stressed, one of the best things you can do for yourself is to keep your mindset positive. Especially when it’s about money. Keep your head up and do not let debt or other financial stress control your emotions.

One way to stay positive is to be grateful for what you have. You may have a roof over your head, food on your table and clothes on your back.

Another thing that can help is using mindfulness techniques like meditation or deep breathing exercises. These techniques will help you relax and clear your mind so that you can concentrate on the good in life, instead of all the negative things that are stressing you out.

Find solutions to your financial stress

Many people are stressed about money due to lifestyle inflation. You need to cut back in your spending habits and find extra sources of income. Also, examine your current budget and see where you can save. You can also use a debt repayment calculator to help you out with your financial stress. With this, you’ll be able to see the best path towards financial freedom.

If you have credit card debt, it’s time to think about making some changes because it’s not going to get any better on its own. Try paying more than the minimum balance each month or create a plan with your credit card company in order to pay off your debts quicker.

Overall, if you want to reduce your financial stress, start by examining your current budget and finding additional income opportunities. Then, consider making some changes in your spending habits and figuring out which debt is costing you the most money so that you can tackle that first. There are many ways for you to reduce financial stress in your life; the key is finding what works for you! Yet without a positive mindset you are not going to think clearly. You will miss opportunities to improve because your negative thoughts are ruling you. Both in mind and body. 

Prioritize your debt

If you are struggling with debt, it is important to prioritize your debt. It might sound like a simple piece of advice, but many people go about paying off their debts all wrong. Your aim should be to pay the minimum on all accounts except for the one with the highest interest rate.

Consider this: if you have $10,000 in credit card debt and your credit cards have an average interest rate of 20%, your monthly minimum payment will be $200 (assuming you don’t make any charges). Instead of putting that money towards paying off your balance, which could take years to do so, consider using that $200 to put towards another account with a higher interest rate (20% vs 10%).

Make sure you always have an emergency fund and save enough for retirement. You should also provide for those less fortunate than yourself. Everyone has different incomes, savings rates and expenses and there is no “one size fits all” answer to what everyone should do with their money when they are stressed out over money. But these tips can help give you some guidance on ways to deal with financial stress while trying to figure out what is best for your personal finances.

Take care of the essentials

If you’re feeling overwhelmed with financial stress, try to take care of the essentials first. Basic necessities like food, shelter and clothing are essential to your well-being, so make sure you have these covered.

Keep a budget

One of the best ways to focus when you are stressed out over money is to keep a budget. It seems like common sense, but many people don’t know how much they’re spending or how much they have in their bank account. A budget will help you get your finances under control and give you peace of mind.

Take action on your finances instead of feeling hopeless

If you’re feeling hopeless and overwhelmed, the best thing to do is take action on your finances. The more you think about your financial situation, the worse it will get. You’ll be sitting in a pool of stress, drowning in debt and bills.

So here are some tips that might help.

1) Create a budget:

This will help you track your spending habits easier. It’s important to know what you can realistically afford each month so that you can plan accordingly for the future. This gives you control over your finances because now you know how much money you have coming in and going out each month, which helps reduce worry.

2) Keep up with payments:

When people aren’t paying their credit card or mortgage bills on time, it causes an extreme amount of stress because they can’t get ahead financially. However, if people keep up with these payments and make them on time, this allows them to save money because they don’t have any late fees or penalties added onto their balance due to missed deadlines. If there are problems with making payments on time (e.g., forgetting to pay a bill), then contact the company or person who is trying to collect from you as soon as possible so that they don’t continue charging your account while you’re still trying to figure out how to solve the problem being caused by a lack of payment!

3) Talk to your creditors. Many are very aware that things happen in life and are willing to work with you to you get back on track.

Talk to a professional when needed

Do you feel like you’re in over your head with your finances? Do you feel trapped by debt and not sure how to get out? If so, it may be time to consult with a professional. It’s important to remember that financial stress is a common issue for many people. Stress can lead to anxiety and depression, which can in turn lead to poor health.

When talking about money or finances, there are three different types of professionals that are available:

– Financial Advisor

– Banker

– Financial Planner

A good place to start is by getting advice from someone who knows more than you do. Maybe they can help dig you out of the hole that you’re in. A good financial advisor will have experience understanding the tax laws and can offer some important insights on how to handle your money better.

Avoid negative thoughts

Avoid those negative thoughts and feelings like anger or frustration or at least acknowledge them and move forward thinking about what you can do to solve the problem. I believe you already know the physical and emotional harm financial stress can do you. Most articles you search for and read are going to tell you the same thing as this one does. They’re going to go on and on about the damage stress can do to you. There is a choice to how you think. You can keep piling on the negative thoughts or think more positive towards a solution. Mindful meditation is an excellent way to get more positivity back in your life and tackle the really negative things. And no, you don’t have to sit crossed leg on the floor or chant. 

There is real help out there

As mentioned at the beginning of this article:  211.org

You can also look into applying for a grant. Take, for example, Modest Needs grants, which are designed for workers just about the poverty line who are ineligible for most other forms of social assistance. Modest Needs

Please take a look at the article below to learn how to focus or re-focus yourself 

Mindfulness in Your Everyday Life