Financial well -being is an important part of our mental and physical health, however, many of us are afraid to discuss our relationship with money. Cultural conversations about financial stress can seem negative and judgmental, but when we are honest with each other about small changes that have helped us build sustainable habits, reduce our stress, and organize financial security, we open up the conversation and help each other out.
Thrive asked its community to share their tips for restructuring their thinking about money and reducing financial stress. Which of the following tips would you try?
1. Change the language you use using money
"I used to say things like, 'I'm not good at using money' or 'I don't really understand finances.' As I began to realize the power of my words and how they began to affect my results, I decided to form a new alliance, taking full responsibility for my finances. "These small changes prompted me to embrace new tools and systems to support my understanding of how best to work with money. I stopped being afraid of my finances and was able to see money as an important relationship that needed my care and attention just like any other relationship."
2. Write down your non -negotiable expenses
"For some time, I avoided dealing with financial problems for fear of not understanding them properly. I had a subconscious belief that they were generally complex and confusing. Earlier this year, I set the intention to learn how to deal with money and financial decisions best. a helpful tip is to decide which non-negotiable items I want to spend on, based on my personal values.For me, it’s healthy and wholesome food for my family, not snacks and cheap food.We can’t manage anything we don’t know whether it’s our food, our health, our relationships or our finances. ”
3. See your credit as cash
"One tip for reducing financial stress is to look at your credit as cash. Almost all of us assume that we get something expensive if we put it on credit. I learned that that mindset often leads me down a slippery slope, so I have to change patterns my thoughts.Once I started treating all things like buying it with cash, I stopped shopping because there is no limit tomorrow to pay it off.Now, I think realistically and make a budget before making a big purchase.My financial future becomes less stressful and it's great to know that I don't have credit debt and I can save more. This definitely reduces my financial stress. "
4. Consult an expert
“I hired a financial planner for three years since the beginning of my corporate career and he helped me think about money from a new perspective. It’s not about generating more or reducing my spending to an unhappy level, but, we focus on creating new money habits and going beyond the limits of money trust. That decision twelve years ago has helped me in the back. I switched from working for a company to working on my own and spending more time on hobbies and important people in my life. "
5. Treat your savings account as an expense
"I was fortunate to learn this habit as a young adult, but anyone at any age can get started. If you have a percentage or dollar goal for monthly savings, ask for an automatic withdrawal to a bank that is 'difficult' to access and consider it an expense. This one tip has saved me a lot of stress and helped me organize my savings. "
6. Identify your limited beliefs
"In the last 12 months, the first thing that helped me feel less stressed about money became real to myself about the limited money thinking that grew up with me. I read the book, You Are a Badass at Making Money by Jen Sincero, and then read a few other books he recommended.Now, not only am I earning more than double the income I earned this time last year, but I am also buying a new home and the opportunity to increase my monthly income even more next month.Working a mindset is key. . "
7. Talk to someone about your stress
"One thing I've found to reduce financial stress is to talk to someone about your financial situation. Personal finance remains a taboo topic in society, but if you're open with someone you trust, you'll find other people are also open, and then you quickly learn that your situation and the things that worry you aren’t much different from others ’. Talking about it alone can drastically reduce stress, and of course, give you different ideas and perspectives that can lead to a better financial future healthy. "
8. Contemplate your larger purchases
"If you notice that If you spend more than you want, look at what you bought over the last few months. Look at big ticket items and repeat purchases from certain categories. What emotional and psychological benefits do you get from these things? Some examples are satisfaction, happiness or relationships.Then, consider some alternative low -cost or no -cost methods where you can give yourself the same boost.
