The truth of that matter is we all worry about money, and everyone at some point in their life will worry. Some of us just tend to do it more than others. So, if your finances are causing you stress, here are a few ways to stop worrying about money.
Comparison is the root of unhappiness
You might be scrolling through Instagram or peeking at your neighbor who seems to have it all and is spending most of the time in the sun smiling and looking happy (or happier than you), and are beating yourself up about not being able to live the same quality of life as theirs. Being happy with what you have got is the key to being happy with yourself and your financial situation.
It doesn’t mean that you have to give up on all the things you would like. It just means that you should enjoy what you have right now, and work for the things you want in your future.
Know your numbers
If you know your financial situation, then you should know what you’ve got enough for. Being on top of your finances and knowing where your money is and goes will have a calming effect on your worries about money.
Track your income, expenditures, and assets through AFIREFI will give you great clarity on where you sit financially. This knowledge will help you understand where you are right now, and how to get to where you want to be.
Avoid lifestyle inflation
Finding a comfortable level of lifestyle for you and sticking to it could be an essential way to worry less about money. If you find yourself wanting a full three-course meal, wine, theatre, and a taxi ride home just to feel normal and your finances don’t support it then your lifestyle costs can become problematic.
There are ways to support the lifestyle you want such as saving, getting a promotion, and making a career change but first you need to understand what you can and can’t change.
Whatever your financial situation - good or bad - I’m sure you’ve made money mistakes in the past. Forgive yourself and leave those mistakes in the past, use those mistakes as lessons. Learn from them and move on.
With the rise of interest, the market crash, and inflation we’re all scrambling to review our finances. This shared fear makes it a great ice breaker for conversations about money with friends and can feel more natural to take the time to figure out your finances.