The Shriver Report – 5 Ways to Manage Financial Stress
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5 Ways to Manage Financial Stress

stressed-pin.jpgBy Meredith Lepore

by Meredith Lepore

If you’re stressed about money, the good news is you’re not alone.

According to a 2013 study by Citi and LinkedIn, women experience more stress and have more financial concerns than men, and Gen X women report the highest levels of stress of any age group.

So how can we cope with all this? We’ve got some ideas!

Identify The Problem

What is the real issue? Are you spending too much on frivolous items? Or is there just simply not enough income coming in? Is it credit card debt?

Identifying the root of the problem will allow you to make a plan, and start getting organized.

Put Yourself in The Power Seat

People tend to get stressed by money because they feel powerless.

So how do you change this?

Reassure yourself that you can change your situation. Create a really great budget that will allow you to save a little extra, and put more money towards your debt. Start looking for a side hustle so you are more comfortable with your income. Stop paying full price for anything, look for bargains on clothing and home items. Figure out what you aren’t using and can sell. Sometimes, even putting away just $25 extra a month can make a huge difference in reaching your financial goals.

Put yourself in control of your situation and take action – you’re not alone, and we can help.

Stay in The Present

It is possible to over-obsess about the future and burrow yourself into a hole of negativity. But so often, that can be a self fulfilling prophecy. Focus on what you are doing now to change your situation, and remind yourself that you have control of the situation. With hard work and dedication you can change your financial future for the better.

Get Some Real Help

Find a friend who is great at budgeting or splurge on a financial advisor (an investment that is worth it). Try some online tools like Mint.com that will help you plan out a budget and stick to it, or scour the internet for financial blogs with practical suggestions. We live in such a connected world, there’s no reason to go it alone!

Exercise!

Exercise is a great stress buster, especially yoga. According to Healthandfitnesstravel.com, yoga methods use specific meditation techniques to focus the mind on your breathing that quietens all those voices in your head telling you to worry.

Regularly practicing yoga can also boost oxygen levels to the brain which will make you feel happier overall.

Maren Showkeir, co-author of “Yoga Wisdom at Work Finding Sanity off the Mat and on the Job,” told GoGirl, “There is a precept called santosha, or contentment, which has the potential to be a huge stress buster, because it helps you focus on the value of your work, rather than obsessing about outcomes. Practicing santosha is about learning to cultivate contentment no matter what life hands you. Give work your best efforts, understand that you can’t always control the outcome, and then recognize you have a choice about how to respond if the outcome is disappointing.”

This post originally ran on GoGirlFinance.com.

user-avatar-picMeredith is the former editor in chief of the women’s career site, The Grindstone. Her work has appeared in Marie Claire @ Work, The Jane Dough, DailyWorth, Business Insider and Learnvest. She earned her Masters in Magazine, Newspaper and Online journalism from the Newhouse School at Syracuse University. Meredith resides in New York full time and enjoys reading, jogging, SoulCycle and playing with her small dog, Otis.