Managing Your Finances Equals Managing Your Health

November 25, 2017
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In this day and age, the harsh truth is that the foundation of survival is no longer fitness as much as it’s financial status. Thus, it doesn’t come as a surprise that so many people worry about their budgets. However, all that worrying can lead to stress, which can affect your health in more ways than you may think. With that in mind, here are a few suggestions for managing your finances that will hopefully help you stay healthy and stress-free.

How does it influence your health?

It’s important to understand how financial stress can harm you so you can realize the importance of dealing with the issue as soon as possible. As already mentioned, stressing out over your finances can lead to numerous health issues, such as headaches, migraines, insomnia, digestive tract problems, muscle tension, lower back pain, depression and many more. All of these can make it difficult for you to focus and go on with your daily routine.

Also, many people base their happiness on how much money they have, which can have consequences on their mental health. Specifically, research has shown that people who base their self-worth on their financial status are more prone to comparing themselves to other people, as well as feeling less in control of their life and more anxious, which in many cases leads to panic attacks, negative thoughts, and nausea. Such people also became more cautious about spending money on more expensive things due to their need to protect their self-esteem from something that seems like a “financial threat”. If some of these things sound familiar, don’t get discouraged; there are methods that can help you organize your budget and improve your health.

Organize your spending

First things first, you need to set a budget and actually stick to it. Write down your monthly income and expenses so you can see where your money is actually going. This will also help you see how much money you can save and invest in different things like education, entertainment, clothes, retirement etc. For example, if you’re worried about your retirement, you can always calculate your age pension rates and use the results to adjust your budget accordingly. Or, if you have some debts, knowing your budget will help you decide how much money you can put towards paying them off. Sticking to the budget might be a bit difficult at the beginning, but once you see how it works and start noticing the improvements, it will turn into a healthy habit.

See what you can change

If you know your financial situation could be better, think about what you can do to change it. For example, if you need more money, try to learn some new skills so you can find a better job and regain your confidence. If you need to spend less, limit the amount of money you carry in your wallet so you can’t spend more than you’d planned for the day. Start with small changes and work your way up to the bigger ones. Just keep in mind that big changes don’t happen overnight, so don’t give up.

Don’t buy on impulse

To control your spending, you need to control your behavior. Avoiding temptation is not easy, but buying things on the spur of the moment can destroy not only your wallet but all your effort as well. To prevent overspending, make a list of the things you need to buy before you go shopping – and stick to it. This doesn’t mean you can’t treat yourself every now and then, just that you should take care of your needs before taking care of your wishes.

Don’t be afraid to ask for help

If you can’t handle your budget on your own, don’t hesitate to ask for help. There are many classes about money management that can teach you the basics of organizing your budget, and you can also hire a financial planner to help you out with your investment strategies. The important thing is for you to realize that you are not alone. Even just talking can be very helpful, so don’t be afraid to share your worries with your family or closest friends. Some of them might have gone through the same thing, so they may be able to offer advice and reassure you that everything will be fine. Consider joining a support group as well, since there you will be surrounded by people who understand what you’re going through, and you can find a solution to your financial problems together.

Being concerned about your finances is not a problem on its own as it can help you control your spending. However, too much worrying can lead to stress, which can develop into more serious illnesses that can have a long-term effect on both your physical and your mental health. Luckily, there are ways of managing your finances, so preserve your health by learning them in time. After all, health is wealth, so don’t lose it over something that can be managed.

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