If you find yourself staring at the ceiling worrying about money, instead of sleeping at night, you need to stop it. It’s not healthy. Easier said then done though, right?
Most people worry about money at some point. If you’re a gambler, a crazy spender, or have defaulted on every credit card you own, you have bigger issues than this post can solve. However, if you have enough to pay your bills, don’t over-shop, know how to balance a checkbook, and yet you still worry about money, these tips may help.
In the know: Know what you spend and how you spend it. Even for thrifty folks, money worries pop up. If you keep track of your spending habits, to the penny, you’ll know exactly where your money is, feel in control, and that worry will go away
Save some money: Everyone feels a little better knowing they have rainy day money set aside. If you can’t afford much, set aside what you can, because it will add up. I suggest opening a rainy day savings account, one not attached to your normal banking accounts. Out of sight, out of mind.
Cut three expenses: Choose three basic expenses. Cut them in some way. Saving money is a sure fire way to stopping money worries. If you usually spend $300 on groceries, see if you can cut that to $250 or $275. If you buy all your clothing new, try a thrift store for jeans only. Three expenses is easy. You don’t have to re-haul your entire budget to feel better. If you can save a little on three expenses, it will add up; you can add that money to your rainy day fund.
Make a list of your worries: If you’re already budgeting in a decent manner, and are worrying about money, than making a list can help to stop the worry. Maybe there’s something your missing, and writing down your money issues can help. In your head, worries tend to swirl about, mix up, and it’s tough to sort them out. Worries on paper are much more manageable. Maybe deep down you’re worried about what might happen if you get sick, or if your child can’t get financial aid for college. You can make plans to solve both of these situations, but not if you can’t pinpoint them. Writing stuff down, also allows you to stop thinking about it, because you know that the list isn’t going anywhere.
Do you worry about money a lot? Why do you think that is?