10 Strategies for Coping With the Stress of the Financial Crisis
When the moment comes when you realize that you need to drastically change your life, it creates incredible stress. It is often the culmination of many minor stresses that go to one big tipping point, and then suddenly everything bursts out, creating a tidal wave of anxiety, fear and stress.
This post was originally published on The Simple Dollar .
I know. I was here. I experienced it. It may seem like everything you’ve worked on your entire life is slipping right out of your fingers. When you finally face your financial mistakes, what you see can shake you to the core.
The truth is, much of the early success you see around the bend comes from the ability to handle that wave of stress. He can hit hard and you can really take your eyes off the ball. Here are 10 strategies for getting rid of stress.
Strategy # 1: Stop Wasting Time
Many people respond to stress by taking the time to procrastinate. They will spend time and energy in activities that have nothing to do with their problem to distract them for a moment. The problem is that usually the problem gets worse when they face it again.
Stop procrastinating. Focus on the problem. If you are feeling overwhelmed in the moment, really rest so you can attack it with mental focus tomorrow.
So how do you actually “focus on the problem”? The next few strategies will help you do just that.
Strategy # 2: Limit Access to Easy Spending
One of the biggest challenges in coping with a financially difficult situation is a sense of hopelessness. Until you get your finances in order, sometimes it’s incredibly difficult to figure out where all this money is going . Why is my checking account always empty? This is usually unclear – and it can be incredibly frustrating, stressful, and intimidating.
The best answer to this problem is to simply stop the most obvious leaks, and you can do this by turning off your ease of waste tools. In other words, take your credit cards out of your wallet or purse and leave them at home when you go outside. Remove card numbers from online accounts in the same way.
It’s like throwing a rag into a bucket full of holes. This won’t stop leaks completely, but it will certainly block and slow them down until you find better solutions.
Strategy # 3: Burn Already Available Resources
Another problem compounding the financial crisis is the looming rise in fixed expenses and bills. You and your family need at least food, water, clothing, and shelter, which means fixed costs.
But here’s the thing – you already have a ton of these resources. It’s time to start using up all the things that you have at hand.
Start rummaging through your pantry and cupboards and prepare as many dishes as possible from the items you already have. Dig deep into the closet and put on all the clothes you already have. Check out all the entertainment options you already have.
There are already many valuables in your home. Take advantage of this before opening your wallet elsewhere.
Strategy # 4: Develop a Plan
You have stopped most of the financial leaks – for now. So what’s next?
The next key strategy is to develop a plan for how to deal with any financial crisis. For many people, the crisis is associated with huge debt; for others, it may be a medical emergency or impending retirement.
However, you need to come up with a plan for how to handle this, and the best way to come up with a plan is to visit the library and do your homework on how to solve your particular problem. Head over there and look for books about your particular situation – about reducing and paying off debt, retirement, or what you might be facing.
There are books out there to help you cope with just about any financial crisis you may face, and to help you develop a plan for getting out of that crisis. Take their advice and make a plan that will take you from the painful place you are in to where you want to be.
Just having a plan of action at hand can be very stress-relieving.
Strategy # 5: take tangible action in the first steps
As effective as a plan is, it is useless without action. You must take real steps to make this plan a reality . Not only that, real action in a positive direction is perhaps the most powerful stress reliever.
If you’re in debt, one great real-world action might be to sell some of your items on Craigslist to get rid of that first debt. If you are facing a retirement that is closer than you think, one of the great things to do might be to simply sign up for a retirement plan.
Look at your plan, determine what you can do right now that will help, and do it . Then wash off and repeat. Make these activities a part of your daily routine.
Strategy # 6: Speak out loud
One of the best strategies for dealing with a financial crisis is simply to get through the crisis and your thoughts about solving it step by step.
For an introvert like me, one effective way to “talk” is to simply keep a journal of your thoughts. Whenever I struggle with something, I think it through on paper, writing down my thoughts and responses and trying to organize them.
For extroverts, this process often works best in real-life interactions with other people. Find someone you deeply trust and discuss the whole situation piece by piece.
At the very least, talking about an issue can help you see things in a whole new light, which in itself can reduce stress. He often discovers new solutions.
Strategy # 7: keep nothing from your spouse
Financial problems can cause problems in a marriage like nothing else. Money problems ruin countless marriages, and money problems can erode pre-existing marriage cracks.
The best solution to these problems is complete honesty. Don’t hide anything from your spouse. Be completely honest about your mistakes and oversights.
If you expect your partner to be honest, you must be willing to give the same, so take it a step further. Be the one who takes the lead and brings the honesty and self-reflection needed for a healthy marriage. Put it all on the table.
Strategy # 8: eat a healthy diet
This strategy is one of the best for dealing with any stress, financial or otherwise: just eat healthy foods.
Instead of eating unhealthy convenience foods, pack your meals with fresh fruits and vegetables and make them the cornerstone of your diet. Eat a wide variety of foods to get plenty of vitamins and minerals.
If your diet is slightly disturbed by a poor diet, it is easy to lose your physical and mental play. When you are facing a crisis, even if you are a little out of your mind, it can be much more difficult to deal with it.
Strategy # 9: Get Enough Exercise and Rest
These two tactics go hand in hand with proper nutrition – they are guaranteed to get you in the best physical and mental shape to deal with the stress in your life. Not only that, exercise and sleep tend to work together to amplify the effects of each.
Set aside time for exercise each day. Go for a walk, or even do something simple like jumping or doing push-ups in the living room for 10 minutes. You don’t need aerobics to make your heart beat faster and your muscles move.
Likewise, give yourself plenty of time to sleep every night. Start going to bed early so that the alarm does not wake you up, but the natural rhythms of your body. Getting enough sleep clears your mind and flushes away many of the negative mental aspects of stress.
Strategy # 10: Use Free Leisure To Your advantage
One final tip: find free activities that you really enjoy, not just fun. Many people confuse the two and replace real leisure time with “burning time”.
Leisure involves actively doing something that occupies your body and / or mind, but you choose it because it brings you personal pleasure. This is not where you stop, because you have nothing else to do, like watch feeds or surf the web.
Look for loose things to make you truly engage with you and leave you feeling happier after you do it. Good leisure is not just about feeling like you are blocking your problems. Instead, it actively lifts your spirits and spirits and gives you more preparedness for the challenges ahead.
Final thoughts
Dealing with a personal financial crisis can be incredibly difficult for anyone, but if you don’t have smart strategies, the task becomes even more difficult.
No matter what financial challenges you face, these strategies can help you overcome stress and deal with the problem with a clear mind and strong spirit.
Good luck.
10 Strategies To Cope With The Stress Of The Financial Crisis | Simple dollar