anna-9
Money issues can cause serious problems and these are often the result of bad habits that have built up over time. From damaging relationships, to crushing self esteem, if you’ve gotten into bad money habits then you’re probably going to feel stressed and unhappy until you make changes. Step 1 is identifying those bad money habits that are undermining everything else.
Most of us have been through a stage in life where we just didn’t really want to pay those end of the month bills. There are so many more fun ways to spend your money than gas or rent, right? The problem with ignoring bills is that we never really get to forget about them. The payment has to be made at some point and the more time that passes the more charges we incur and the more stressed we’re likely to feel.
Getting into debt isn’t necessarily going to make you feel stressed, especially if there’s a good reason for it, such as buying a home. However, if your debt levels never change and you’re constantly cycling your debt from one card or balance to another without ever reducing it this can lead to feelings of frustration and unhappiness. It's a dangerous way to handle your debt too, because if an emergency crops up (like your car breaking down) you will have no spare credit and borrowing using no credit check loans to cover emergency costs. If you want to avoid feeling stressed about debt then pay some off every month – even the small payments will make you feel like you’re making progress.
There is something satisfying about making a payment with cash. But, more than that, if you only ever pay for your purchases with bank or credit cards it’s very easy for spending to get out of control. And, if there’s one thing that makes us super stressed when it comes to money, it’s spending that we’re not sure we can really afford. Paying for purchases with cards is fine but make sure it relates back to what you have in the bank and – every now and again – try switching to cash instead so you remember how it feels to deal with real money and this will help you to set good financial goals.
It always seems like a good idea at the time – maybe you feel like you deserve it or it was on sale or you just had a bad day and needed a boost. The trouble with impulse buying is that we often do it when we can’t really afford it. That tends to lead to a cycle of shame and regret, as well as the stress that comes from overspending and the debt that leads to.
When you’re budgeting, you make your money more predictable and transparent. And if you know how much you have, where it’s coming from and where it’s going to be spent, there is nothing there to make you feel stressed. It's also a great way to help you stop using your credit card so you never risk building up unmanageable debt. If you’re not budgeting then every payment feels like a risk and the uncertainty of whether or not you can really afford something can reduce any pleasure or satisfaction in making the purchase.
If you’ve been having money problems then you may just not want to think about it. However, that can actually make you more stressed then dealing with your financial issues head on and it's been known for debt issues to cause mental health problems. Whether it’s debt that needs paying off or overspending you need to tackle, getting into the habit of facing up to your money demons will make you feel more in control and more positive about the future.
