Words by Morgan
February 28th, 2019
In everyday life, there are plenty of things we stress about — work, relationships, being late and, of course, our finances. Money is a crucial part of our lives and as such, can cause a fair reason for concern. If you get “the fear” of checking your bank balance, you’re not alone, as a third of 22 to 36-year-olds are too scared to log in to their bank account. There’s no need to fear finance though, and if you find the thought of money overwhelming, here are some steps you can take to cope with money worries.
Perhaps one of the easiest ways to manage your money better is to create a budget. This is easier said than done, with most of us setting out with good intentions only to slide back into bad spending habits. When creating a budget, realistically plan your month before your next payslip arrives. You don’t need to live to the bare bones of your account, just think sensibly about how much you’ll spend. If you’ve got a friend’s birthday, for example, make sure to include this in your monthly outgoings. It’s always best to overestimate how much you need, this way, you’ll never be left surprised.
We all love the feeling when we open our bank account on payday to see a healthy amount sat there. This is where most people fall in terms of their finances. It’s incredibly tempting to go out and treat ourselves at the beginning of the month only to regret it three weeks later when we’re struggling to get by. A good way to combat this is to always pay money into your savings first. This way, you won’t be tempted to spend that little bit extra since it’s not hanging about in your current account.
If you’re really struggling with your money and it’s starting to cause you both mental and physical stress, there are always people and services out there to help. Citizens Advice, for example, is a fantastic source for information regarding personal finances. Similarly, MABS has plenty of sections that are there to offer you support and guidance. In the meantime, though, there are lots of little everyday changes to keep you feeling positive. Make sure you’re keeping active, seeing friends and family often, and focusing on the future, not the mistakes from the past.
Reducing the amount of stress you feel towards money is incredibly important and will leave you feeling more able to enjoy everyday life and relax a little. The best way to face your fears is to start taking these small, manageable steps towards financial responsibility.
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