09 Dec Strategies to deal with financial stress!

Taking care of your finances is one of the most important things you can do to lower your stress level. It’s also necessary for raising a growing family of your own! It’s not always an easy thing to do! With things like insurance, gas prices, home improvements, holiday presents, kids’ birthday parties’-the list goes on and on- it can be a balancing act. We at Thrive EAP have come up with some easy ways to improve your financial health to help you and your family live life well.

-Create a budget for you and your family’s finances!

One of the best first steps to taking control of your finances is coming up with a realistic budget! Taking time out of your day to do this will make a huge impact on the way you live everyday life. Start by coming up with a good amount to spend on all of your household items like food, gas, mortgage, utilities, and clothing. Then think about out of the house spending! Set aside money you may want to use for eating out or family fun! Another tip is to set up an emergency fund! This will help cover any unexpected expenses that come up like a car repair or a school expense.

-Cut out unnecessary spending!

Now that you have an idea of what your budget looks like, get real with how much you really spend month to month! Eliminate all of your unnecessary spending like getting coffee five days a week or eating out way too much. This is an easy fix to save more money week to week! It will also help reduce financial stress by both spouses knowing the plan and taking care of the finances daily.

-Get financial help!

Don’t be afraid to get financial help! We all have been through a time where we can’t see our way out financially. A good thing to do is to go to a professional! Take a class on financial management or just simply talk to a friend to process your feelings. Talking to someone outside of your family is always a great way to get encouraged and motivated again.

Consider getting an EAP for you and your team of employees! An employee assistance program like ours at Thrive is great for financial help!

Learn more here!

-Stay thankful!

Keep your head up and be aware of all the things you do have! Staying thankful and positive in hard financial situations can be tough, but it’s so necessary to your health. Your mental health will stay steady when you get your eyes off of all the things you don’t have and think of all the things you do have! It’s all about your perspective.

-Always be learning and accelerating!

If you’re in a financial hardship or you simply want to grow financially, always be learning! Improving your skills for working outside of the house is as simple as reading a book here and there or going to a training over the weekend. Anything you can do to improve your skill level is great for you and your boss! This only leads to promotion and better finances.