Is money stressing you out? If so you are not alone. Did you know that 51% of women are financially stressed? That means that not only are we dealing with stressors like health, relationships, family, politics etc… but that our wallet is causing us to feel overwhelmed too. Ladies, you don’t need anything else weighing you down. It’s time to take action and rid yourself of money stress for good.
These days, there is so much talk about wellness. As a health coach, as well as a 15-year investment management veteran, I understand the unique wellness challenges that money can bring. Money is emotional and having it can make us feel safe and secure. But, when we don’t have it or don’t have the amount we want or need, this can cause us to feel that fight or flight response. When we are stressed we operate in fear, our cortisol levels rise and things that used to be no big deal now are a trigger.
Stress has a profound effect on the body and it doesn’t matter what you are stressed about, the body’s response is the same. Our stress levels rise and if it becomes chronic, our adrenal glands say “Nope!” and cause the rest of our body’s systems to break down. There is a wide range of serious health issues that can occur when our body is burned out, think autoimmune disease, gut problems, fertility issues, inflammatory responses, you name it.
If you are feeling the weight of money stress, it’s time to improve your financial wellness.
Like most types of stress or anxiety, when we take action around the issue instead of operating in fear, we feel more empowered and in control of the stressor.
Repeat after me “Money doesn’t control my life, I have the power to improve my financial wellness and decrease my stress around money!”
When most of us think of self-care we think of face masks (the fun kind, not the ones you wear to the grocery store nowadays), massages, candles and all those other “spa-like” relaxing activities. Yes, many women need those sort of things to relieve stress and decompress but those relaxing effects are temporary. After the lavender oil fades away your stressors are still there. The things that actually help us reduce stress in the long-term require real work. Taking care of our financial wellness is one of those things.
It’s time to stop pushing your wellness and happiness to the backburner and instead of hiding from them, pull back the curtain and seek out mentors that can help you face your challenges head-on.
Here are 4 things you can do to boost your financial wellness:
Change your mindset around investing
Investing doesn’t have to be complicated or scary and it is certainly not a man’s world. Investing is a woman’s conversation. When things are unfamiliar to us of course they feel scary. But like anything, it just takes the conscious choice to try and to learn.
While you may not realize what not investing is costing you now, trust me, when it’s time to retire and you are met with the harsh realities of living without a paycheck, you will be wishing you didn’t let fear determine your financial choices.
It’s time to step into your power and just start.
Focus on saving
Is your life created around your expenses? What if you prioritized paying yourself first? When you prioritize paying off your debt, saving and investing a portion of each paycheck it becomes a non-negotiable habit. You would never say, “I’d rather go to the bar than pay rent this month” soon you will feel the same way about saving and staying in control of your finances.
Start small & make a plan
Investing doesn’t mean you need to have thousands to put in right away. Find a number that feels comfortable to you and commit to putting it aside monthly, even if that’s $10 from every paycheck. If you aren’t sure where to start, look into 401k matching with your employer, contribute what you can and know that with matching you are investing double that amount each month-like free money.
Investing is the only thing that levels the playing field for women and gender wealth inequality. It’s time to build that wealth!
Dream it & write it down
Multiple times a year think about your big financial goals. Those may seem overwhelming or even impossible but when you break them down into smaller pieces you can create a simple plan to achieve them. And how amazing does it feel when you have a clear path to achieving your dreams? Write it all down, having your dreams and the steps on paper (or a spreadsheet) will help hold you accountable and inspire you to keep working at it.
Stress is inevitable, but money stress doesn’t need to add to all the other things you may be dealing with. You’ve got this and it’s time to become confident and empowered when it comes to finances. It’s time to say goodbye to money stress forever.