Some say that: “Money can’t buy happiness”. But, really? I don’t think so.
Let me tell you why.
It’s no surprise that money problems always place their feet in the list of many things that make us lose sleep at night, and even cause argument with our significant others. When money makes you stressed, you might have a hard time concentrating at work or focusing on your relationship.
Then, how can you be happiness after all? Money can’t buy happiness? Yes, it might be true. But, money can affect your happiness for sure.
So in today’s post, I would love to bring to your a few simple guidelines to eliminate many sources of financial stress.
1. Get the fact, make the plan
The sooner you face your own situation, the sooner you can find way to get out of that sh*t.
Put an evening aside, sit down with a pen and paper, write down your financial situation. Are you struggling with some form of debt? Are you saving up to buy a house? Or are you just trying to figure out how to make ends meet? What are the real reasons standing behind your sleepless night? Define it and deal with it.
I have read this quote somewhere I couldn’t remember: “Toxic stress and worry feed off of passive people”.
So, don’t be a passive person. Let’s make a plan, set a goal and follow it. Even though your plan is unsuccessful, at least you had a plan! And don’t be afraid to revisit and revise your plan until you make it.
2. Set your priorities
Much of the financial stress come as a result of not really understanding your priorities. Many many time we have chosen to give up what we really want for what we want just at that moment.
We’d rather buy a fancy luxury dress or a stunning new phone to impress people than put that amount of money in a saving account for gaining true financial freedom in future.
Therefore, once you had a financial goal and made a plan to chase it already, let’s prioritizing them. Think bigger. Where will you want to see yourself in future?
If you are about to splurge on something you don’t need, remember that spending now will puts you further away from your goal.
3. Watch your spending
I used to be a person who lived like royalty for the first days after I got paid, then barely managed to scrape by the rest of the time. Weeks of my life a spent just waiting for the next time I got paid. How frustrating it was!
You need to be aware of where your money is going, how much you have spent, and how much is still available to spend.
You can write down those on a simple piece of paper or in a spreadsheet. But for me, I use Song Nhi app. Rather than carefully annotating every expenditure in a notebook, tracking your spending on your phone with an app can make life so much easier.
4. Build an emergency fund
If you spend every last penny you earn soon after payday (like I used to be), you will find yourself in quite a muddle.
Imagine there is something happened at work and for some reason you don’t get paid or even worse, you lose your job. How can you manage and overcome it?
Or even receiving your salary just a few days late can also cause considerable discomfort and stress.
Don’t put yourself in that situation. Do yourself a favor. Save a little money each month. Put it into an emergency fund. That way, when life presents an emergency, you can feel confident about dealing with it without needing to worry about money.
Okay. That’s all. It’s your turn to take action. You will be surprised just how quickly you financial stress can be relieved. See you next time!