Your finances can cause stress. Everyone pretty much knows that, right? Well, now we know that stress can actually affect your financial health. You heard that right. Stress can cause everything from binge spending to running up late charges because you’re avoiding your bills.
So, what can you do about it? For starters, don’t start stressing out. We’ve put together a few tips on dealing with stress that can help keep you—and your bank account—healthy.
Recognize The Signs
You could be suffering from stress and not even know it. Insomnia, feeling overwhelmed, lack of appetite, fatigue, trouble focusing—they’re all signs that stress is affecting your life. So is binge spending because it makes you feel a little more in control. Or running up late charges rather than dealing with your bills, which make you feel out of control. Coping mechanisms like these don’t actually lower your stress levels. Just the balance in your bank account. Which causes more stress. Which causes more harmful financial behavior…
Don’t Get Trigger Happy
What causes stress for you? Work? Family situations? Commitments? COVID? There are a lot of things that trigger stress. Not surprisingly, money is identified by 2 out of 3 people as a major one of them. Take the time to pay attention to the things that cause stress in your life and work on strategies to minimize them. When it comes to stress triggers, knowledge is power over them.
Avoidance Isn’t The Answer.
Once you’ve learned to recognize your stress triggers, the solution isn’t to avoid them. The “Ostrich Technique” won’t work here. The trick is to gain control of the situations that trigger stress for you. Talk to an advisor and set up a plan for dealing with your finances. Reduce the commitments that eat up too much of your energy. Carve out some alone time for yourself, away from work and family. In short, meet stress head on and it will help keep stress from messing with your head.
Relax. You’ve Got This.
It’s a bit of a cliché, but yoga, meditation or simply a long walk are great ways to help reduce stress. Exercise and deep breathing techniques can help, too. And don’t forget to get enough sleep and pay attention to your diet. There are foods that can boost brain-calming serotonin and lower stress-causing hormones like adrenaline and cortisol.
The lowdown: there are as many ways to lower stress as there are that cause it!