Ready to Exhale?

Eliminate financial stress this holiday season

Many people today experience a high level of stress. Usually, when we are under stress or threat, we hold our breath.

Because of the high level of stress many people endure continuously, increasing numbers of people are unconsciously and continuously holding their breath, waiting endlessly for the stress to abate long enough so they can exhale.

There are many sources of stress in modern life, but certainly one of the biggest is finances. Of course, everyone feels stressed about money at times, for example worrying about paying the rent or being unable to make debt repayments. However, unrelenting, ongoing financial stress can become a serious threat if it disrupts your everyday life or affects your health.

For instance, money-related stress may cause you to worry so much that you can’t focus on or enjoy other elements of your life. If your financial stress is severe, you may experience negative effects on your physical health and your mental health. Financial stress can lead to physical symptoms like stomachaches or headaches and to mental health issues such as anxiety, depression and behavioral changes like withdrawing from social activities.

If you are experiencing stress like this, it is time to exhale!

Instead of living constantly under breath-holding stress, you can use this holiday season to exhale and eliminate the stress. Here are some great tips.

Seven tips to eliminate financial stress

  1. Face the facts! Carefully detail your income and all your expenses, monthly and annual, such as licence renewals. Add up how much debt you have, how much you repay each month and how long you still have to pay.
  2. Knowing exactly what you earn, spend and owe will help you see where you are financially and which areas of your finances need urgent attention, so you can prioritise what needs to be done.
  3. Set and keep to a budget that will ensure you are spending less than you earn by eliminating unnecessary expenses and avoiding more debt.
  4. Plan to pay off your debt faster, even if that means paying just R100 extra on a credit card a month.
  5. Start saving immediately – even if you start with just putting R50 a month away for each of the following: an emergency fund; your retirement; and your goals or dreams.
  6. Make time each month for managing your finances.
  7. Learn more about money and how to make it work for you by joining our Holiday Challenge.

Holiday Challenge

The holidays are a great time to join our challenge: get started with our 8 to be great financial wellness journey in which we explore 8 simple yet effective steps to improving your money matters, one step at a time.

Remember, your Interface financial coach is ready to help you eliminate unnecessary financial stress! Simply contact your Interface financial coach here for amazing support, so you can exhale and enjoy our challenge this holiday.