Keep Your Head Up

Financial woes can take its toll on anyone. Increasing stress levels and pressure on one’s personal and professional life can be just the beginning for some people. There is light at the end of the tunnel, though.

Baby Steps

You might be in some financial pressure. Or, on the other side of the scale, you might be on the cusp of bankruptcy. Financial stress is nothing to ignore.

For those of us who have experience trying financial times, it is not easy. After all, financial concerns can cloud one’s future and alter one’s confidence. There can be a sense of failure that takes its toll as well.

image courtesy of Andrew Kitzmiller

One of the best things that can be done in this situation is to take it one step at a time. You aren’t going to come up with a three-month plan to get out of your $25,000 debt situation on a $34,000 salary. It isn’t going to happen. However, that doesn’t mean that you have to accept your current situation, and the accompanying stress/pressure involved.

Take some small steps that can give you some confidence, moving forward:

• Here and Now: What can you do today to get on the right track? Take a long and hard look at your budget. Sell unneeded items and/or downsize across the board (home, car, and “stuff”). You can accept the frugal lifestyle today.

• Microcosm: Take your big goals and then shrink them – a lot. These smaller goals will help you stay motivated and remain on the right track. They can spell success and keep you headed there for good.

• Dedication: Can you stay on track with your plan? What will it take to meet your stringent eating out guidelines needed to get out of debt? Whether you need mini-budgets posted on the fridge for motivation, or something else, you need to stay dedicated.

A Word on Stress

You have to keep your head up. Allowing financial concerns and stress to enter your mind is natural. However, you shouldn’t allow it to overwhelm you.

Look to separate your financial situation from other things. While you might be saying that this is impossible, due to lack of available funds to “enjoy” the finer things, there is a point to that. However, when you take financial stressors seriously, you can learn to live frugally. You can enjoy free and cheap ways to go out and stay home – and still have a great time.

Execute the car insurance comparison to save some money. Look at term deposit rates once you get out of debt. However, whether you are struggling in debt or finally out of it (permanently!), learn to manage financial pressure and your regular life. Don’t let the numbers get to your head.

Keep your head up. There are plenty of ways to make your current situation more manageable. When you’re not engaged in these, try to separate yourself from that world. Even if you’re looking at a long hard road out of debt, you don’t have to let it consume your thoughts and life.


Brian Neese is a personal finance and insurance blogger who writes for Home Loans Australia.



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