Our financial outlook impacts our ability to be present at the moment. It influences how we think and feel about our life and often contribute to a significant amount of stress.
Stress is common. We all experience some level of stress in our lives. However, prolonged stress can have serious health implications. It will wear down your body.
How to Live Better and Improve Overall Wellness
Financial wellness is about improving the quality of your life with a focus on finances.
The American Psychological Association noted that “when stress starts interfering with your ability to live a normal life for an extended period, it becomes even more dangerous. The longer the stress lasts, the worse it is for both your mind and body.” And you cannot live a good life under constant stress.
To live better requires finding the balance between earning and spending, saving and investing, living today and planning tomorrow, and the balance between working and resting.
Improving Physical Wellbeing
Reaction to stress varies based on your coping mechanism. However, prolonged financial stress often leads to tiredness and lack of motivation which can impact your productivity at work. Poor work performance can lead to disciplinary action or termination.
Through a study, the Society for Human Resource Management article noted: “One in five workers reported feeling extremely stressed, mostly because of their job or finances. Those reporting high levels of stress were more than four times as likely to suffer from symptoms of fatigue, headaches, depression or other ailments.”
With increased awareness and practice you’ll learn to control and respond to financial stress. When you feel better about your finances your physical well-being improves.
But there are actions you can take today to improve your physical condition. When you feel stressed about your finances, it’s helpful to do some physical activity. Go outside and take a walk, run, do jumping jacks, and stretches.
Better Mental and Emotional Wellness
Achieving financial and life goals lead to better mental and emotional states. You feel more confident, secure, and free to express yourself. When you’re free of financial stress, you are able to experience and enjoy the present moment. This can bring joy and happiness.
How you think and feel about money impacts your financial decision-making that creates the life you’re experiencing. Having positive associations about money leads to better choices that support mental and emotional well-being.
Improve your Financial Wellbeing
I’ve been helping others improve their life by focusing on financial wellness. In fact, I’m only truly interested in how money can help us achieve our goals and how money can be effectively used as a tool to support our quest towards fulfillment.
When money is a stressor in our lives, we’re unable to fully be ourselves. The thought of being unable to afford, spend, save or invest, or plan for the future can be mentally debilitating.
I want you to think about these statements below:
- Your self worth is not your net worth.
- You’re not a loan. And you’re not alone.
- Your value isn’t tied to your title, position, or income.
So how can managing money help you live better?
Increase your financial understanding and get started on your financial wellness journey. Start with these money areas to help you:
Increase your awareness of how money enters your life and how it is spent. Improve your money mindset to foster better financial behaviors that lead to a shift in money habits. How you think and feel about money along with how you handle money impacts your life.
Whether we decide to take an active role in managing our money or allow it to manage us, our dream life is created or barriers are built preventing us from achieving our goals.
How to Deal with Financial Stress
Stress is a part of life. The key to living better is learning how to manage financial stress.
- How to Cope with Financial Stress
- 10 Signs You’re Headed into Financial Trouble and Tips for Financial Security
- 9 Steps to Prevent a Personal Financial Disaster
Debt and Stress
From experience, debt is a major stressor. It kept me working to repay for past purchases that I may not have any current value in my life. Getting rid of debt was a major move to lessen the amount of financial stress I felt.
To live better, prioritize debt payoff. And to do so, you can start with reducing payments, eliminating debt, and less reliance on credit.
Manage Time and Live Better
Your time is the most valuable resource you possess. Time is finite and once it’s spent it can no longer be earned back. Managing your time can have a profound impact on bettering your life.
By learning how to manage your time, you’ll discover how much time you actually have to invest in the people you love, the projects you enjoy, and the time to discover new interests and spend on hobbies.
Have Multiple Income Streams
Lessen financial stress by having multiple streams of income so you’re less dependent on a single paycheck.
Think about the following streams of income:
- Earned Income: money earned from exchanging your time.
- Profit Income: money earned from selling something.
- Interest Income: money earned from lending to others.
- Dividend Income: money earned from profits as a shareholder.
- Rental Income: money earned from rental properties.
- Capital Gains: money earned from the growth of assets.
- Royalty Income: money earned from licensing your work.
Improve Your Environment
Learn how to declutter your space to create an environment that’s indicative of the lifestyle you desire.
Limit unfiltered access to you:
- Unsubscribe to email subscriptions that add no value and just clutter your inbox.
- Review your social media connections and free yourself from posts and images that negatively impact you. It may not be necessary to stay connected to a friend you haven’t seen in over 10 years and don’t plan to ever share another memory with. It will also limit the influence of the Joneses.
A Plan to Live Better
First, you’ll need a life plan and understand the plan can change over time. However, having a target to work towards and look forward to can help you find meaning in your day-to-day living
- Have a plan
- Get organized
- Create systems
- Use automation
- Track progress
- Review and revise
- Grow your knowledge