Let’s Discuss Finance: How to Get Financial Peace of Mind

It’s a fact that our finances are one of the things in our lives that stress us out the most. If you long for a stress-free life with stress-free working and living environments, then you need to address your finances and find routines that will keep the stress of money to a minimum.

First, identify the financial stressors in your life. For some persons, these include: worries about debt, paying bills late, not having a sense of control over your finances, and arguments over finances.

Let’s address these with four simple solutions:

1.      Get out of debt: This is the most important step. But how do you do this? First, monitor your impulse spending urges to stop the bleeding. I guess you are wondering what I mean by; monitor your impulse spending urges to stop the bleeding. This simply means you have to put a check on whatever takes a large chunk of your money.

2.     Pay your bills as soon as they come in: This is one of the easiest ways to eliminate stress over bills. When you get your Electricity or water bill, make sure you make the pay within that same week. Or if you use any of the online banking platforms; log in, and send your make your payment. To do this, you will need to develop a bit of a ‘saving’ in your bank account, so you always have enough to pay the bills as they come in.

3.     Review your finances at least weekly: To get a sense of control over your finances, you have to monitor them. You can take use about 10-20 minutes every week to look at your budget, your expenses, your income, and make sure you have got everything under control. If you have a partner, do this together.

4.     Talk about money with your partner. Money can be a huge stressor on a relationship. It’s important that you talk about money on a regular basis in a non-emotional way. As hard as this may sound; it’s crucial, to the survival of your relationship. You both have to be on the same page, or you will eventually argue and have major crises about your finances. You need to talk about your financial dreams and goals, your spending patterns, your budget, your income, your savings, debt, financial security, bills and the likes. If you have not started this, it may take a while in the beginning, and look very difficult. But try to do it as a team, and not accuse each other of anything, don’t blame; try to be positive and constructive. Over time, it will get easier. At least, devote 10-20 minutes each week to review your finances and goals together. This will make a major difference in your relationship and in your stress level.

So glad you are here, were the tips helpful? It will be a pleasure to hear your contributions. Don’t leave without dropping a comment. Enjoy the rest of your day.