Exum Life Counseling & Mediation Services, LLC

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Financial Stress

Posted on February 20, 2020 at 10:05 AM

People are riddled with all kinds of stress. Stress that is related to relationships, parenting, social, mental, emotional, work and a myriad of others. Today I want to focus on financial stress; it can be daunting, demoralizing and downright humiliating. Finances are one of the top reasons for divorce. It can also keep you isolated because you may not be able to afford to go on vacations or hang out with friends due to lack of funds. Depending on the level of financial stress and how you handle it; Depression may occur, which affects many other areas in your life. Some people struggle financially because they didn't finish school and/or do not possess vocational skills such as mechanics, cosmetology, construction, carpentry etc.

In some cases, others have not learned to manage their money and they overspend or live well beyond their means. In addition, financial crisis such as medical issue, natural disasters, divorce-loss of income and loss of employment or the inability to continue to work, and unexpected expenses related to family, illness, death can also hit your pockets hard. There are many causes for financial pressures too many to mention. But whatever the reason, it doesn't have to be the end of the world. Many times, people are hit with several of these situations at once. So, what do you do? The first thing you do is hold on because you are about to experience a lot of turbulence. Some things that you can do to change your situation.

1. Cut back in purchasing things that you can do yourself i.e. hair, Mani, Pedi, cut your own grass, clean your own house

2. Shop at stores that have discounted items like: Walmart, Aldi, Save-a-lot, Ross, Didi's discount store, etc.

3. Use coupons

4. Only buy necessities

5. Check your insurances to see if there are some items that are not needed.

6. Look for a higher paying job.

7. Pick up a part-time job.

8. Sale items that you are no longer using via online offer up, let go,

9. Craig's list or have a garage sale.

10. Rent out a spare room.

11. Use a section of your home for an Airbnb

12. Make something you can sell desserts, dinners, clothing, crafty artistic items. Sometimes we must get creative and think outside of the box.

At the end of the day, if you have done and are doing everything that you can just wait, things can change suddenly for the better and in your favor. The most important thing is to protect your mental health. Nothing is worth your sanity. Do not allow a temporary situation to take your peace, compromise your happiness, or dictate your future.

Until next time be well

Dr. X

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