Reduce Financial Stress

Finances may not be the only thing on people’s minds, and it may not be the only thing that causes stress for people.  Financial stress does affect most people.  We have enough stress in our lives that if it is possible to eliminate some of it, most would be very happy.  There are some ways to reduce your financial stress, but you will have to work at it a little bit.
The first thing you need to do is gather all the information you will need to make a plan.  Get all bank statements, payroll stubs, bills, and so on together.  This way you can see what you have coming in, and how much you will have going out.  Prioritize what needs paid off first.  While you should not stop making payments on a credit card or your mortgage, you should start working on paying off your bills with the highest interest rate. By paying just a little extra each month you are better able to work that balance down faster.
Once you have all of your documents together and have prioritized your bills, you need to create a budget.  Many times if people do not have a budget it is easier for them to spend money without thinking.  By having a budget you can say you only have this much money to go out with friends that pay period.  That way you will have a number in your mind, when you get close to spending that number you know you need to stop spending. Having a budget will help you see where you can get the money from what you already make to make larger payments on your bills. 
It should be a no brainer that extra income will help you to pay your bills off faster.  You do not have to get a second job to get a little extra money.  Clean out your closet, most people have some stuff in their closet that they no longer want.  You can then have a yard sale or take those items to a consignment shop.  By getting rid of the stuff you no longer need or want you can bring in a little extra money to get those bills paid down faster.  Anything that you cannot sell you can donate and get a receipt for it. Then at tax time you can deduct that money, which could help make your return just a little bit bigger.  There are more ways to bring in just a little extra income, get creative; you will find one that will work for you.
Reducing financial stress is doable.  It may take a little time, but there is no reason why everyone cannot do these three simple things to get rid of some of their financial stress.  It will take some work, but the more you work with a budget and the more you update your priorities to what to pay off first, the easier it will be.  Do these long enough and it may even become like second nature for you.

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