Do you have a number of things you worry about constantly? Most of us do. It might be our health, our job, our children. However, the one constant seems to be money. We ruminate a lot about our finances and our financial futures. With instability in the economy and job market, this is understandable. Many people these days are living paycheque to paycheque. One little additional cost or unexpected repair could cause a financial house of cards to collapse, leading to numerous problems.
We would all like to stop worrying about money, I’m sure. Here are some ways that can help to ease your anxiety.
Reduce Your Spending
We all have a certain standard of living we enjoy, but think about downgrading a bit. This will allow you to put more money away for that inevitable rainy day. I’m not suggesting selling everything and never going out for dinner, but think about ways you can cut back. I’m sure you can find some that are not too painful.
I Won’t Have Enough Money to Retire On
This is a common concern. You can increase the amount you save (see above), but also remember that in your golden years, you probably won’t have so many recurring bills, like a mortgage, the kids’ college fees, the need for a new car every few years, etc. Yes, you shouldn’t expect to live comfortably on just your two government pensions, but chances are your own situation is not as grave as you think.
The Stock Market Fluctuations
The more you obsessively look at the daily totals, the more anxiety you will bring into your life. Unless the market is in a period of significant change, chances are the day-to-day variation will be pretty minimal. Save yourself unnecessary grief and don’t check the totals every single day without fail.