Financial Stress…How To Reduce Stress By Organising Your Life
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Ian Newton is a stress management specialist from Australia. Assisting businesses and individuals to be happier and more effective.
Are your finances causing you to lose sleep? Does just thinking about your finances give you a knot in the stomach? If this description fits you, then it’s time to get control over your financial life.
Simplify, breathe and save
One of the biggest stresses, little considered aspects of a disorganised life, is that it will cost you money. Reducing your clutter and simplifying your life can not only help you save lots of money, it can also help you breathe easier. And who doesn’t want to breathe easier?
You may ask, why will simplifying my life help me breathe easier? Because when you are stressed the muscles in your back, between your ribs and even in your gut will tighten. The net effect is that you won’t be able to breathe as easily. Welcome to anxiety!
Mess, clutter, disorganization and lack of money are directly connected to one another. When we take control, the money will follow. Here are some tips for getting control of your finances, save money and lower your overall stress levels.
Spend 15 minutes every day cleaning up your paperwork
You know how it is. You are busy, your life and finances are chaotic, and you probably overlook the regular financial housekeeping that can keep the chaos at bay. You all too easily forget, avoid or simply overlook several small tasks. These things eventually gather dust, take up space and pile up to the point that they become overwhelming, This is disastrous for your finances for your stress and for your mental wellbeing.
The reality is that at some point you just don’t want to know what your real financial situation is!
Create a new important habit.
Create a basic habit to fall into that can help protect you from the horrible sight of stacks of unpaid bills and stray papers overflowing on your kitchen table or desk. Spend fifteen minutes each day cleaning your desk, kitchen table, or wherever it is that you keep your important financial papers. Sort out the mess, throw out the junk and start to put things in order.
It’s easy to do but… you will have to overcome some fear. After all it’s fear that has created this pile on your desk. N.B. if you don’t have a desk find a corner, a kitchen bench top or even your living room floor to spread out your mound of paperwork. Do not use your bedroom. This process may initially be stressful and you do not want to create that feeling where you sleep.
Set a specific time, take a few deep breaths, make a coffee, and just get started. Create separate piles to start with. If you don’t have a filing cabinet, buy a portable inexpensive expandable file. Label the files, bills, receipts etc and get filing.
You will need files for specific actions, that is the bills that are most pressing, such as electricity. Don’t be afraid at this stage you are only sorting the mess, not finding payment solutions. Get rid of all the rubbish and get organized. Disorganisation is itself a major stress .
Forward Planning.
Set up a desk bill planner or a regular calendar with sufficient space to mark down all your regular bills and payments. Many of us are juggling numerous bills, it can be easy to drop the ball every once in a while. Keep things simple and your bills paid by keeping a handy bill calendar. Buy an oversized calendar and put it somewhere easily visible. Make a note of when you have to make payments. Even simpler, automate your payments online if possible. Don’t delay, just put it off just get on and do it.
Reduce clutter, organize and save money.
Now you have your filling system and bill calendar you will not accidently miss a payment such as a credit card or house payment. You know the sting of having to pay a bank fee for a late payment.
It just adds to your stress. What about missing a cut off date for some family welfare payment just because you didn’t have the paperwork in on time, because it was lost in your paperwork avoidance pile.
Recently in Australia as part of a get the economy going again programme, the government gave out $900 payments to people who had paid tax in the previous year. Imagine the people who missed out because they had failed to complete their tax return by the generous cut off date. This only happens through lack of organisation.
Automate payments.
Set up as many auto payments as possible, this obviously bi-passes forgetful bill paying systems or lack thereof.
Remember this system will only work if you make it work. If you do not have the resources to pay your debts, by organizing yourself, at least you will know exactly where you stand. If you have to negotiate with a bank or any other creditor at least you will be able to demonstrate your ability and willingness to resolve these issues and move forward in a manner that perhaps is satisfactory to the creditors.
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