Even though money cannot buy happiness, you are running on empty to make more and more money. You are too ambitious that you forget that you are earning money at the cost of your physical and mental health. The endless desire of having bungalows, luxurious cars and all modern amenities may account for being workaholic.
Despite working long hours, most of the people have money related fears that are more horrible than death; every time when an emergency pops up and when you need money to finance big expenses like buying a home, you rely on debts. According to research, more than 80% of Britons rely on bad credit payday loans, causing immense pressure on their health. 74% of adults reported that sometimes they felt so overwhelmed by stress that they were unable to cope up with it and 32% said that it triggered suicidal feelings.
It is quite surprising that your finances are not stable despite slogging. In fact, you are seeking loans from direct lenders. What makes you so worried after all? You all know that money is necessary to meet basic requirements and hence you need to work. Your desires are not always responsible for pushing you to sweat blood. Societal and economic anxieties are to blame for money fears. Luckily, it is not a problem that you cannot overcome.
Learn that you cannot control all events
Imagine you are to go to the other side of the river where you find a beautiful house. Your instinct motivates you to set off, but you fail to consider the current of waves. However much you strain your muscles, you will never be able to cross the river. It means determination is important to achieve a goal but at the same time, you have to consider external factors that have great influence over your progress. The same concept your financial life follows.
You slog out as you have fear of losing your job or you want to save money for your old age or you want to buy luxuries. There may be endless reasons for working very hard. Well, whatever the reason, you have to think that you will do your best. You do not have full control over all events of your life. If you had, you would never fall ill, face cash shortfalls and get everything what you desired. You should motivate yourself that you can do, but it does not mean you will be overly optimistic.
For instance, you set a target of making £5000 sales a month. You change your strategy to encourage more and more people to buy your product, but at the end of the month, your sales amount to £4000 only. Just because you have fallen short of the set target, it does not mean that you will feel depressed thinking that your efforts were not enough. Some external factors like consumers’ expectations, competitors’ position and economic cycle can be the reason.
Since you cannot take control of all events, you should not bother about what is not in your hand. The rule of thumb for overcoming your fear is not to try control external factors.
Accept reality and find out ways to improve
Money anxiety is all the world over. There will no one who could escape it. Having enough money to make ends meet and achieve your long-term goals make you worried. The rising level of tension causes inordinate amount of stress leading to deterioration of your physical and mental health. If you want to get over the fear of your personal finances, you should figure out where you stand and what you can do to improve your situation.
First off, jot down all fears on a paper to see if all of them are realistic or they are just worsening your financial problems. Then, you will take stock of your finances. Create a budget to know how much you are earning and how much you are spending. Note down everything from a little expense to your mortgage instalment. If your income is greater than expenses, it means your net worth is positive. If expenses are more than income, it means you are in debt. You should immediately find out the ways to deal this situation.
Even small steps can help you deal with your financial problems. Set financial goals, start making smaller repayments, pay all of your bills and track spending. It is important that you stay motivated. Do not think that you cannot get out of debt. It may take a bit long time, but constant efforts and positive thinking can help you face your fear.
The bottom line
Whether your worries pertain to retirement, handling emergencies and missing opportunities of enjoying life, you can overcome them if you handle your finances in a responsible manner. Stay motivated and do your level best to achieve your goals.