For most of us, stress and finance are two words that seem to go hand-in-hand. What you may not have thought, is how stress in your every day life can impact your finances in a negative way.
Below you’ll find some of the most telltale signs that the stress is directly impacting your finances. When you know what you’re looking for, you should be able to right the ship.
Stress leads to impulse spending
When you’ve had a long day at work or your boss has been on your back the entire week, many of us turn to habits that we know help alleviate that stress. One of those is impulse spending in times of great stress. It may be something simple as a trip to get yourself coffee every morning to make it through work, or it could be giving in to something you’ve been saving up to purchase that sends your finances into trouble.
When you feel the level of stress creeping up, make sure you remind yourself about those impulse purchases you tend to turn to in order to relieve stress. Write down some alternatives that push away the stress as well as any impulse purchase. You’ll set yourself up to not cause more stress in the future.
Stress means forgetfulness
There are times when every little thing that could go wrong, seems to, and we tend to forget things in the chaos. It’s easy to overlook a due date for a bill when you’re busy worrying about how you are going to manage a huge workload. These missed payments will ultimately cost you enough money to cause even more stress.
In this age it is easier than ever to set up bill reminders, and automatic payments such that your bills are never late. You’ll enjoy the savings and less stress.
Stress impacts your health
High levels of consistent stress take their toll on your mental and physical health. Even if it isn’t alcohol or tobacco that do their damage in high stress times, the mental and physical exhaustion will make you less productive and may result in missed work days.
You can help lessen these types of health care costs by finding good habits that alleviate stress before it causes any health problems. This way you won’t have those high health care bills adding to your stress.
Stress can determine how much you buy
When you are stress out and shop, for food or yourself, and how many of you seem to buy things many days in a row? It is a common method for people to fall into in order to beat back the stress. Buying food a little bit at a time doesn’t help you save money, and those shopping sprees that last days are hurting your wallet.
Try your best to make a list when you go to shop and give yourself access to quick and easy-to-prepare meals to avoid high spending. Check that you’re not doing your online shopping a little at a time to avoid those hits to your finances.
Ultimately, you have to prepare yourself not to spend extra money and hurt your wallet as well. It make a take a little while to really get the hang of it, but when you work at it, it will truly save you money.