Lowering Financial Stress- Part 1

Lowering Financial Stress

6 keys on how to break free

By: Genevieve Darr

One of the greatest things about being a kid, is living care free, playing, and not having to pay for anything! When we get older, responsbilities come and stress over money becomes a monthly or in some cases, an every day battle in our minds. When you're in debt, sleep becomes non-existant, kissing your daughter/son good night becomes an underline of guilt.  And all we ever want to achieve, is to become debt free and give our children a better life so that they don't have to deal with some of the hardships that you have poorly thrown yourself into.

Here are some major tips  on how to start alleviating some of your stress. In doing so, will be better for you, your family, and your wallet.

1. Need vs. Wants

Everybody wants something but do we really need it? And if you do buy it, what are you going to sacrifice in return?
Writing everything down is key. For 2012, I want you to write down all of your expenses that you are spending now. Your car, gas, your home, your kids, activities, groceries, additional monthly FUN expenses (such as eating out, satellite/cable tv, cell phone, entertainment, Starbucks, etc.)

Then write down future events that you know of, that are going to happen until the end of this year.

For my family, it is:

• to save 3000 for legal fees
• 3 weddings (2 out of state)
• 2 trips to New Jersey to visit my husband's family
• 500 dollars for unforseen expenses (we'll get to that)
• and a Want to go on an anniversary trip to somewhere amazing.

Write everything down and create two categories. Needs vs. Wants. Negotiate with your partner on what you need and he needs vs. wanting something and put it in the pile. Prioritize each category on what is most important. Once you have come to agreement and have selected "1" want, you can move foward. If you're single, speak to someone that is financially stable that can help you scratch off some of those "wanted" items on your list.  The " 1" want, is something that you can look foward on your adventure to save. I didn't say two because you really have to start weeding down some of your debt first. If you want to save and become debt free, cut out the fun! I know it sucks, but the light at the end of the tunnel seems so much brighter than causing yourself bodily damage that you could literelly have a heart attack, cause your self serious depression, hair loss, and so much more!

Now that we have layed down the footwork, let's go to number 2.

2. Change your attitude

As a mother, we worry about everything! But the thing is, some of these battles are out of our control and may take years to overcome. When you're stressed out, your family and everyone around you feels it. But changing your attitude will help. Walk, meditate, yoga, taking a hot bath; all of these things will help calm the storm. What really helps, is getting a reality check on yourself.

I'm going to tell you a little story about me.

I was in a fire a year 1/2 ago, and when I was on my way to the hospital in an ambulance, a light clicked inside me. My daughter made it out of the house, our house didn't completely burn down, these burns will heal and I'm alive! And you know what? I laughed. It can always be worse. I acknowledged the little things in life I do have and became grateful. Some of the worries I had on my shoulders became non-existant at that very instance. The fire made me realize that nothing matters besides your family. Nothing! And if what you're going through, is physically taking a toll on you, change it now or you will drown. One easy way to change yourself, is to give. You're probably thinking, what? I don't have any money. I can barely get by. Bull! And if you did the first step, you saw your true colors and realized how many of those things are just wants vs. needs. Donating to someone else, will help you realize that you're life isn't so bad and that there are others out there who are more misfortunate than you. Give what you can, ok?

Check back tomorrow for part 3 and 4 of our series.