Habits to reduce financial stress [3 min read]
Financial stress can increase your risk of poor health and impact your mood and productivity. Take a step back and get in control of your cash, before it takes control of you. Here are 4 ways to take control of your finances:
Create a Budget
Avoid expensive overdraft fees, or having to take out loans by creating a budget and living within your means. We've written an article here on budgeting. Portify helps you track your income and expenses so you’re more informed about your spending habits. For example, if you see you’ve been spending more than normal you can become more careful and examine your spending patterns to see why you overspent. You should always:
Review - go over your expenses and make sure they fit in your budget.
Reduce - stop spending on unnecessary things.
Pay off - debt, bike payments and any other forms of credit.
Repeat - as many times you need to feel in control of your finances.
Meditation is a form of mindfulness that is good for reducing stress. There are many types to help you focus on the present, reduce negative emotions and manage depression systems. Take a 10 minute timeout, focusing on your senses and daydreaming about a place you feel at ease. Your brain will signal your nervous system to relax and take a restorative break. Also, keep reminding yourself of the positive aspects of your life each day. For example, after setting your financial goals in Portify, praise yourself for your progress towards meeting these. There are lots of useful apps and tools out there to try, check out headspace, calm and insight timer.
If you’re worrying about the future or want to save and have no idea where to start, you’re probably feeling overwhelmed. Calm your nerves by teaching yourself. Get started by reading some articles in our Money Blog.
Regular exercise and taking care of yourself can reduce stress as your body produces endorphins, which helps to lift your mood. Since you won’t be in an anxious state, you’ll be able to focus on financial problems in a productive way. Go for a run, try a new class, hit the weights room, whatever it may be, get your body moving.