There isn’t a single working adult (or retiree, for that matter) that hasn’t dealt with financial stress at least once in their lives. 

Even well-off individuals have this kind of stress from time to time, although admittedly, their stress might come from wanting MORE money, not lacking it. 

There are a few simple ways you can alleviate some of your financial stress, and I’m sharing these tips with you today. 

Let’s get started – (get ready to breathe!)

Get organized. If you have trouble paying your bills on time because of your forgetfulness or busy schedule, why not set up automated withdrawals from your bank account or credit card? You’ll avoid late payment fees, and possibly service cancellations if you struggle with keeping on top of your bills!

Go to war with debt. A big stressor for a lot of folks is debt. If you have a lot of debt, it might seem like your minimum payments barely scratch the surface, and having to manage all these balances and payments is overwhelming. 

If you’re struggling with debt, it might be time to consider debt consolidation. You’ll combine all your debt into one manageable monthly payment. In some cases, consolidating your debt might even lower your interest rate, allowing you to get farther ahead with tackling your debt.

It’s an emergency! An emergency fund is something that everyone needs. Nobody is immune from life – job loss, illness, a house fire, unexpected pet surgery – it could happen to anyone. 

You don’t have to start with a huge amount, but ideally, you’ll want to set up an account for your emergency fund and put away 3 to 6 months’ worth of your income. If you manage to max this out, keep going! Truly – the more you can save up, the better. 

Look to the future. Once you’ve gotten some of your immediate financial stressors under control, it’s time to get onto a path that will help you avoid the stress entirely. I’m talking about planning for your financial future. 

If you haven’t started a retirement fund yet and find the amount you’ll need overwhelming, consider this; if you put $25 away per week into your savings account, not counting interest, you’d have $1,300 at the end of the year, and $13,000 in 10 years.

And that’s just from saving $25 a week!

When it comes to thinking about your finances, as we’ve seen, it can be stressful, but we’re here for you – and a financial planner can guide you along the path. Give us a call at 513-563-PLAN (7526) or click here to set up a free 15-minute call to get started! 

Zen, indeed!