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How to Tackle Financial Stress

Don’t let financial stress get the best of you!

Here’s an interesting quote that I ran across the other day: “How can a hole in your pocket cause a hole in your gums? The answer is stress.” Unfortunately, financial stress affects more than your wallet: it can have a cascade effect on your health and well-being, altering bodily function and decreasing immune response.

Prolonged stress increases your chance of heart attack, diabetes, hair loss, depression and gum disease. It also deprives you of a good night’s sleep and promotes anxiety leading to headaches, neck pain and tight muscles.

Stress Busters in the Financial Department

Let’s start with some attitude adjustments that will free you up to change your situation:

  • Indecision can often hold you back. Just make a choice as to how to proceed. It doesn’t have to be a final choice or even the right choice. Just make the choice to act.
  • If you have a defeatist attitude toward your financial state, get rid of it! Find a way of renewing your hope for a better future.
  • Communicate with your partner and agree on financial priorities. Being on the same page financially will help to dissolve disagreements.

Finances 101

It’s often been said that budgeting isn’t rocket science. Stick to a written budget, cut expenses, decrease your debt and start saving! Here are some little tips that might help you along the way:

  • Enlist help through free online budgeting sites: three good ones are Mint.com, Geezeo.com and Wasabe.com.
  • Investigate cost-cutting and cost-comparison sites, such as: billshrink.com, billeater.com and validas.com.
  • Study and learn! Here are some books that will educate and inspire: “The Science of Getting Rich,” “The Total Money Makeover,” “Secrets of the Millionaire Mind” and “Rich Dad, Poor Dad.”

Professionals Make a Big Difference

Once you have done all you can with your self care of finances, we do recommend utilizing the help of a professional.  Having a dedicated financial planner map out a written plan to guide you through life’s big transitions: marriage, children, college, homes and retirement is invaluable.  If you don’t already have someone you are working with, we personally recommend one that stands out from the rest and has won numerous 5 Star awards in his industry: Bellevue’s Grant Monson, of the Monson Group.  For information please visit his website at www.grantmonson.com/

Remember that cherishing your health also includes keeping your stress levels in check. Let me know if I can help!

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