3 TIPS FOR REDUCING FINANCIAL STRESS

We get it. Money issues tend to cause a lot of stress.

We have bills and deadlines, emergencies, and other large purchases we need to save for.

Thinking about all these responsibilities can overwhelm us, but stay encouraged — money issues don’t need to cause anxiety.

We can plan ahead for our future obligations, so that when these expenses arrive they are already taken care of.

If you need some financial wisdom right now and are feeling tense, here are 3 simple steps you can use to stay ahead in your finances:

1. Make a list of your upcoming expenses.

Saving money in advance is one of the best ways we can keep ourselves out of debt. When we know significant charges are approaching, we can plan accordingly.

Sometimes we call upcoming expenses “emergencies” when they actually aren’t. In reality, we knew they were approaching all along but didn’t prepare for them (I’m referring now to annual 1-time expenses like tax payments, vacations, or Christmas.)

Make a list of the expenses you know are coming up this year and tape it to your fridge, bathroom mirror, or desk, so that none of these obligations will take you by surprise.

2. Start saving for these expenses.

Examine this list you’ve created and build a plan for saving money. Even if it’s just a few dollars each week, setting aside cash now might seem painful in the moment, but it will bring greater peace once your future bills or emergencies arrive and are covered.

3. Understand that when paying off debt, a little goes a long way.

Your debts might feel like a mountain right now, but even a mountain like Everest can be climbed. Subtle payments made over time eventually grow into something greater. Maybe you can only afford $10 a month right now. If so, be faithful and stay consistent, realizing that this small amount will eventually snowball into a larger amount.

These are just a few ideas you can use to apply to your finances today. Get in the habit of planning ahead in your finances now, so that the burdens of tomorrow will seem that much lighter.