Coping with Financial Stress after the Holiday Season

Coping with Financial Stress after the Holiday Season

The holidays have come and gone and as we settle back into routine we also tend to check how our finances suffered over the holiday season. If you and your credit card enjoyed each other a little too much recently, Don’t panic! 

Financial stress affects approximately 78% of American adults. Whether you have run up a debt buying gifts for your loved ones or are struggling to make rent after too many holiday social events, money worries can arise for many reasons. 

1. Budget

Financial stress is linked to many health concerns but can really take a negative toll on our mental health and wellness. Here are a few tips to help you manage financial anxiety: Budget. 

Sit down and work out your budget. Write down all available income against all occurring expenses. This way you have a clear indication and you can plan from here. 

2. Make little changes to save money

Set out to save money on smaller costs and everyday expenses. Try making your coffee at home or bring your lunch to work. These everyday expenses add up over time. 

3. Track your progress

Check in on your finances every day or two so you know exactly how you are doing. By doing this you are eliminating a huge level of anxiety as to where you stand financially. 

4. Take time for yourself

When most people encounter financial stress, we tend to pick up more shifts or work extra long hours. This can take a toll on our physical and mental health. During this time make sure to prioritize your health and self-care. Schedule time out for yourself and do something you enjoy like exercising, meditating or reading.