Financial stress is a disaster to almost everyone of us, it’s like a pandemic hitting you. It brings a undesirable mood, which may then lead to making unwanted decisions that we end up regretting later, do you recall the times you thought of selling your 2 year old pair of sneakers? Or clothing? Or the time you thought of selling any electrical gadget you posses? All these are results of the stress and anxiety caused at times of a financial downfall.
Do away the financial stress & anxiety with these simple and possible lifehacks that work when applied well;
1. Understand what matters
What truly matters? Is it the things that make us comfortable or is it the things that give us a luxurious look? Or the things that make us have a look of being standard & well established in the community? Being aware of the important necessities is a good brake off especially when beating financial anxiety is your main concern. Be well pack on the core basic needs, on the day you receive your payment cheque, sort out your feeding (food), don’t allow to starve days after receiving your income. Are you under a comfortable roof (shelter) every dawn? Do you dress presentable (clothing)? These are the key things you should branch you salary to then everything else should follow.
2. Be on a budget
We have to agree that, for us to live in a financial stress free zone, we have to be on budget.
Tracing our monthly expenditure is one way to do this, so don’t throw away those old receipts, let them add the math and the amount we end up sending monthy. Being financial stable for the whole Month means you ‘expenditure should be less than your income of course you cannot spend more than your income. When the date you are receiving your income is closing near you should have a calculation (budget) of all the bills (electricity & water bills, rent) you are supposed to pay and how much to buy essential housing and personal effects and food, this will give you the whole sum of your expenditure. Now keep an eye on what remains after deducting your experiences from your income, this is the amount you can you use for saving or investing (read on the important of investing)
If all this could seem like a hefty task you cannot takecare of, then you might as well want to hire a personal financial manager see some below
3. Have proper fun
Yeah it is very important to have fun when going through financial stress. The key here is to be you, and try out things that will make you feel in the world as s person and not a person who is going through burden s and misfortunes.
Practice some good meditation and yoga for relaxation and mind calmness.
Check out this simple meditation routine you can do at home for any type of stress.
Put yourself through some exercises like cycling, jogging, gym, boxing, swimming and dancing, dancing is the only exercise that you do smiling and side of cash stabilityend up laughing. The most important thing is to see yourself out of stress and get happy. Mental health matters most over the things that are putting us through stress.
After a dark night there is a brighter day.
4. Budget your debts
Nothing aches in the head than the fact that you owe a bank/ organisation/ or a person some money. Your mind is always swimming around a circle of thought on how you will reach up to the debtor.
Debts keep moving us to a negative side of cash stability. You get money but you cannot posses it for long all you got to do is give it to the one(s) you owe. Getting out of debt stress can be hectic but a debt funny can help a lot. A debt Funnel is a sheet I prepared that helps you keep account of all your monthly debts and help you clear them orderly.
•The present month & year.
•Total number of debts.
•Total amount to pay debtors.
•Debtors C1 where you keep a record of the debtors name, amount you owe them, date the debt was taken.
•Most urgent Debt to pay to less urgent Debt to pay, with the date you should make payment.
•Debtor C2 where you record the new amount remaining after making payment to any debtor.
The Debt funnel is an idea I came up with to help an individual clear with all their debts and on the right time. This funnel let’s you go through a smooth debt payment period each month until you are debt free.
Note: it helps clear debts you already have. The template will be out for download soon write your name and email or whatsapp phone number to get it once ready.
5. Stop going for every trend
We are in an era full of trends in almost everything in the human ecological niche. Things are moving to another level and as humans in the X & Y generation we love cycling along with the trends so that we may not look like we are left behind or think we might look old fashion. It’s not a bad thing but it is much wiser to know the trend you are taking. Most trends are sent and we may get off a stable Financial stance trying to satisfy every demand. The essence of choosing the right trends is to make sure you cut further expenditure by reducing demands requiring satisfaction.
Good luck on fighting financial crisis, use the above points as weapons against running out of salary. It’s important to put ourselves on a manageable scale in life. Do not stretch more than your arm allows you to, respect that distance it can make. What else do you think can be applied to overcome financial downfall?
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