It’s tax time. Most of us are experiencing some level of a reality check about our financial situation.  Let’s talk about what concrete steps you can take today to lower your financial stress. Financial stress has a tremendous affect on your health so be aware for these symptoms listed below.

Physical  

GI, headaches, sleep problems, weight gain, fatigue, colds and flu, immune system problems, skin problems.

Emotional/Psychological

Anxiety, nervousness, moodiness, depression, irritable, memory problems, anger

Relational

Withdrawal, anger, arguments, quiet and unresponsive

9 Tips to lower your financial stress

Be Honest

Tell the truth about your financial status. Come clean and start with a clean slate to begin the process of healing.

Talk to Lenders

Talk to the lenders and tell them the situation.

Create A Plan

Create a plan, you will feel more in control and this reduces stress

Apps

There are great free apps and websites with budgets to suit your needs. You have immediate access to assistance from the leaders in the field.

Debt and Budget Counseling

You can go online and discover many companies and individuals that do this counseling. You can talk to several to see who can meet your needs. Also remember that many community organizations, church and faith organizations offer financial counseling free.

Family Meetings

Get the entire family on board. Ask everyone in the family for creative ideas on creating income and cutting expenses. You will be surprised how much wisdom your kids have.

Family Budget

Design a family budget with all family members.  Have each family member create their own budget and together develop a family budget. This way you share goals and challenges and can support and help each other. Don’t make this an anxiety or fearful process. Call it, “Team Hall” or whatever fun name you create to make this like a sports event including four quarters, bad and good plays, winning and losing quarters, time outs and overtime. You are the leader. Think that your parents will create the mood, inspiration and direction for your family. You are giving your family and especially a gift that will last a lifetime.

Hope

Hope reduces stress and creates happiness.  Teach your children this valuable lesson as you struggle through this challenging financial time. Every obstacle is an opportunity.

Buddy System

There are great mental and physical health benefits to sharing your financial situation with close friends, family and others you trust. There is shame associated with financial stress and financial problems. You may want to keep your situation a secret so people will not think you are a failure. Let me tell you a secret. We all have financial problems throughout the peaks and valleys of our lives. Remember, “secrets kill, honesty heals.” Don’t forget that all of us have had experience and wisdom navigating financial challenges. Tap into the support and experience of others.