Tips For People Who Stress About Money


Money or​ the​ lack of​ it,​ can cause many people a​ great deal of​ stress. People often play mind games with themselves by worrying about certain situations. How will I be able to​ pay if​ my car breaks down? How will I cope if​ I lose my job? in​ this article,​ I give money management advice to​ help people to​ de-stress about their financial position and future.

Worrying about money is​ especially true for people who are self-employed. They worry about what might happen if​ business becomes slow and fear that they will not be able to​ their mortgage etc. Most businesses go through peaks and troughs and it​ is​ of​ course during the​ lean times when people start to​ stress. Even though the​ peaks are possibly just around the​ corner it​ becomes very hard to​ positive.

In this situation I would advise people who are self-employed to​ build up a​ financial safety net. This money can be saved when they are having a​ good period and can then be spent when things are not going so well. How will I pay for the​ mortgage if​ business falls? Answer,​ by the​ money you​ have saved up,​ so calm down,​ you​ will be fine.

The periods when business is​ slow can be used to​ re-charge the​ batteries and can also be used to​ think up fresh ideas,​ of​ the​ direction you​ want the​ business to​ go in.

For all people it​ is​ important to​ know how much money is​ likely to​ be coming in​ per month and how much money is​ likely to​ be going out. in​ business this is​ not all that easy to​ do,​ however in​ family life it​ should not be too difficult to​ predict.

If the​ amount that is​ seemingly going out is​ more than what is​ likely to​ be coming in,​ we then need to​ look at​ what we are spending. This next idea might seem a​ little sad but can actually be quite fun. I would advise people to​ keep a​ record during one month,​ of​ everything they spend. it​ is​ not as​ hard as​ it​ may sound and will give you​ an​ insight on​ how much money you​ actually waste.

For example,​ how many people are members of​ a​ gym,​ but never actually go there? How much money do you​ spend on​ take-away food per month? Do you​ always need to​ use the​ car,​ is​ it​ not possible to​ walk a​ little more often,​ therefore saving on​ petrol costs? How much money do you​ spend on​ cigarettes? Do you​ really need the​ latest flat screen television?

During the​ good times we can afford to​ waste money,​ however if​ you​ are worrying about money,​ it​ is​ time to​ tighten your belt.

I myself try to​ save a​ certain amount of​ money per month and invest it​ in​ a​ unit trust. Over time the​ fund value builds up and if​ I ever need a​ lump sum for example,​ car repairs,​ I just cash in​ some of​ the​ units. I also allow myself to​ take out a​ certain amount of​ money at​ the​ start of​ each year. This helps me to​ pay for my car insurance,​ road tax and to​ book a​ family holiday. This has been working well for me for the​ last five years and is​ something I plan to​ continue.

It is​ always worth planning for the​ future in​ this way,​ not just to​ cover you​ if​ your car breaks down but also for many other reasons. you​ may want to​ build up a​ little nest egg to:

pay for your daughters potential wedding

buy the​ car of​ your dreams

have the​ holiday of​ a​ lifetime

buy a​ house

re-locate abroad

buy a​ business

for your retirement

help fund your childrens university fees


I am now aware of​ how much money I am likely to​ spend per month. I like to​ have treats and waste money as​ much as​ the​ next man. I am more than happy when money is​ tight to​ give up these treats and see it​ as​ a​ battle of​ wills.

I hope you​ have found this article interesting and of​ use.



Tips For People Who Stress About Money



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