Have you ever had a time in your life when you have been worried about money?
You may be feeling, behaving or thinking in ways that are you don’t usually feel, behave or think but this does not mean you are suffering from depression or an anxiety disorder it may mean that you are suffering from ‘money stress’.
More than 50% of people in Australia are suffering from ‘money stress’ and this stress around money makes a significant impact on their wellbeing.
Feeling low or anxious is a normal response when you lose your job, are made redundant, or you’re struggling with debt. Some of these things may be outside of your control but others you can take control of and plan for.
If you are thinking any of the thoughts below you may be suffering from ‘money stress’:
- do I have enough?
- should I buy that?
- have I spent too much?
- which bill shouldn’t I pay this month?
- have I saved any money this month?
Even for those that do not ‘technically’ suffer from anxiety, these questions can still raise their ugly head. By following the steps below, you will be able to take control of your money and be in a position to make informed decisions about your situation which will relieve you of your ‘money stress’.
Step 1 - know your money flow so that you know how much money is coming in and how much money is going out of your bank account and when these monies come into and go out of your account.
Step 2 - put a system or spending plan in place that will clearly show you what is happening to your money and that works for you.
Step 3 – monitor and track your money so you can make decisions and make changes to your money flow as and when you need to.