This post is sponsored by Lexington Law Firm! Thank you! It’s companies like this that allows us to keep this website running.
Statistics show that money is a top stressor for many Americans, regardless of income bracket.
Some stress is good. It motivates and excites us, delivering a burst of energy that we can use to our advantage. But other kinds of stress, especially when the condition becomes a chronic, are not so fun. They leave us feeling anxious, overwhelmed, and unable to enjoy life. Here are ways to take the bad stress out of your day to day personal finances.
Face Your Fears
One of the worst kinds of financial stress is fear of the unknown. Have you ever heard the story of the man who was afraid of the “snake” coiled on the ground? He relaxed immediately when he discovered that it was actually a rope.
Do you perceive any “snakes” in your financial world? Look at them, define them, and discover the truth behind your fear. It is likely not as bad as you think.
Instead of avoiding your financial situation, look at it under a microscope. Add up all of your debt. Write down your interest rates. Put everything in one, unavoidable place.
Automate Your Finances
Feeling that things are out of control will only add to your stress. Though your bills may be due at different times of the month, you don’t have to feel that you have to check on all of your accounts each and every day. Set up automated systems that will take out money from your checking account and put it towards your phone, electricity, car payments, student loans, etc.
Use Trusted Resources
Simplify your finances by using the services that are available to you.They can help you with fixing your credit, staying on top of your student loans, managing your investments and making a retirement savings plan. Here are three distinct types of services. Is one right for you?
Credit Repair Services
If you have poor credit and want to repair it, consider using a credit repair service to help you manage the many steps in the process. Check out Lexington Law reviews, or other reviews to ensure that customers are happy with their results.
Student Loan Assistance
If you are stressed about your student loans, look into the The Institute for College Access & Success (TICAS). This nonprofit, nonpartisan organization was established to help society understand and handle student debt. Their website includes information about loan forgiveness and income based loan repayment plans.
Financial Advisors
A third resource to consider is a financial advisor. If you have questions about saving for a child’s education, your retirement plan, or investments, you want to talk to a person with the education and experience to help you.
Do background checks on the advisors you are interested in so that you are sure they hold the degrees and certifications that they report. To check credentials, visit one of the three following websites:
- Securities and Exchange Commision (SEC)
- North American Securities Administrators Association (NASAA)
- FINRA Broker Check
If you’ve been plagued by stress about your finances, it is time to take a deep breath. There are ways that you can reduce your stress and find a place of peace and ease with regards to your money.
Use trusted resources, like credit repair services and nonprofits that are in place to help you handle your student loans.Make payments automatic so that you don’t feel overwhelmed by the bills you have to pay. Most importantly, face your fear of the unknown by bringing all of your money issues out into the open.
This post is sponsored by Lexington Law Firm! Thank you! It’s companies like this that allows us to keep this website running.
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