5 Simple Things To Help With Stress Caused By Money
For the majority of the population, financial worries are always present. But it's become more of a problem in these post-pandemic years as the economy becomes more turbulent.
However, there are a few simple things to help with stress caused by money. And they're easier to understand than you might currently believe.
So, in this article, we'll go over the top five things you can do to relieve the stress you're feeling about finances.
Top 5 Things To Help With Financial Stress
1. Identify Your Top Financial Stressors
Number one on the list of things to help with stress related to money is to find out which specific issues are holding your brain hostage. It could be credit card debt, upcoming bill payments, a low emergency fund, or anything else. But whatever it is, make sure you pinpoint the sources to determine your next move.
You should keep the following three tips in mind when identifying your top financial stressors:
- Always write your biggest money challenges down.
- Make sure to keep the list short. Otherwise, you will only feel overwhelmed by the seemingly numerous money issues.
- Check your list every three to six months and note how your circumstances have changed. Hopefully, you'll start noticing improvements, and the list will gradually shrink.
2. Discover Ways To Earn More Money
Since consumer goods are higher than normal, some items on your grocery list or budget are probably already strained. So, it's worth taking the time to find different ways to make more money.
Work doesn't have to take up every single waking moment. However, you should consider the following three ways to increase your income when you're on a too-tight budget:
- Ask for a raise — The high inflation and tight labor market mean your employer might be more willing to allow a pay increase.
- Work extra hours — Talk to your employer about putting in a few extra hours each week. This works best if you're paid hourly or eligible for overtime.
- Start a side hustle — If you're looking for a flexible way to pad your income, a side gig is a way forward. There are plenty of options, such as tutoring, blogging, or delivering food.
3. Pay Your Essential Bills First
Bills are inevitable. Thus, you should prioritize essential bills first, especially if this is one of your main financial stressors. This is one of the best things to help with stress, as getting organized can save you from worrying. Sorting through your bills and prioritizing them is great for two primary reasons:
- It encourages you to think deliberately about what you spend your money on. You might even discover that some bills can be eliminated or decreased.
- Understanding which bills you pay first means you won't need to scramble for money when payments are due throughout the month.
Both of the above will reduce your financial concerns, helping you get the rest you deserve.
4. Always Have A Monthly Budget
Budgets are robust but often overlooked tools. They're the only way to really understand your finances, allowing you to save more money and avoid spending on frivolous items. Here's a quick-start guide:
- Write down your net income.
- List your expenses.
- Set up auto payments for recurring bills and savings.
- Set up notifications for when your balance falls below a specific level.
5. Know How To Cover Unexpected Expenses
If unexpected expenses arise when you're worried about money, it can seem completely insurmountable. But there are avenues you can take when emergencies occur.
But before you do anything, have a look at your emergency fund. If it has enough to cover the costs, dip into that pot. However, if you don't have enough saved, you can ask family and friends (even though that can be an awkward conversation).
Ultimately, if you don't have any other route to take, you can get a payday loan from Carolina Payday Loans, Inc. It's easy to apply for, and you won't need a good credit score to gain approval.
All you need to find out if you qualify is a government-issued ID, your most recent pay stub, and a blank check. The in-person process will only take around half an hour, and you'll receive your money on the same or the next business day.
Get A Payday Loan From Us To Fund Emergencies Right Now!
All five of these simple things to help with stress caused by finances are helpful. However, the last one is certainly the way to go if you need extra money within a day or so.
With a quick payday loan from us at Carolina Payday Loans, Inc., you can borrow money in as little as 24 hours, giving you the funds necessary to cover unexpected expenses. You don't even need a good credit score to apply.
So, if you need emergency money today, fill out our request form to get started now, and we'll get back to you as soon as possible.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.