Are you feeling bogged down by money worries? If so, you’re not alone – this is a major concern among many Brits. Luckily, it is possible to tackle troubling financial thoughts.
Here, we explore three easy ways to do this.
- Assess all your finances
It’s easy to see one fault in our finances and assume that we’re in deep trouble – but have you assessed your situation fully? Very often, if we’re really worried about something, it’s best to escape for a bit. With this in mind, why not head to the nearby countryside, or go for a drive? Either activity should be enough to help you clear your mind, allowing you to return home feeling ready to face your finances. When you do, it’s time to write down your concerns and match them with your bank balance.
Look through your projected outgoings for the year carefully, and you’ll be able to calculate what you need to get through this period. You may find that you have enough to cover crucial costs – if not, you’ll have given yourself enough time to look for alternatives like borrowing.
- Cut out extra costs
So, you’ve assessed your finances in full. Having observed your regular spending habits, can you spot any unnecessary costs? Are you a fan of take-out coffee, for example? Or do you often like to indulge in expensive meals? Whatever your preferred luxury is, it may be worth cutting it out of your weekly spending plan. True, one purchase might not seem pricey on its own – but buy a treat frequently, and it can soon lower your bank balance.
Now, we’re not saying that you need to cut out nice things altogether – we’re simply suggesting that you swap costly comforts for more affordable ones. You could trade your take-out for a tasty homemade brew in a flask, for example. Or switch cinema trips for movie nights at home? It’s completely up to you!
- Seek free advice
An issue can seem overwhelming if we’re facing it alone – that’s why free support services exist. Very often, we’re advised to share a problem with those we’re close to. But it’s easy to feel uncomfortable doing this. So, if this applies to you, how about contacting an independent platform? Trustworthy sources include Citizens Advice and Money Advice Service, whose experts are trained in offering useful, straightforward tips and advice.
If you feel that your mental health has been impacted by your financial worries, the Samaritans and CALM (Campaign Against Living Miserably) provide exceptional talking services. Whatever you’re going through, it can often be helpful to just talk to someone impartial.
They’re in no way pleasant – but money worries can be tackled. Follow any one of our top tips, and you’ll be better placed to get your finances back on track.