Financial stress can be all-encompassing as your finances directly impact your quality of life. Whether there’s not enough money to pay the bills, a sudden emergency that drains your savings, or difficulty affording essentials, this can be detrimental to your mental health and wellness. Moving past this stress is far different than working through other stressors, as you can’t cut finances out of your life or always change the situation as easily as you would like to. Instead, here are a few tips on how you can manage and work through financial stress.
Make it a priority to get help if you’re dealing with a mental health disorder.
Financial stress can be especially impactful on some, leading to mental health issues like anxiety, panic disorder, or depression. The problem? Not all inpatient or outpatient services will work for everybody, and some may be looking for something quick yet effective. One option you may want to look into is a top mental health retreat in the United States. A mental health retreat or wellness retreat will give you the ability to get mental health treatment in a more relaxing environment, access licensed therapists without having to scour your city for therapy that may or may not help you, and get the support and coping mechanisms you need to craft an ongoing treatment plan that helps you feel better after your initial retreat. Whether your financial stress has impacted your self-esteem, contributed to trauma, resulted in addiction, or more, a mental health retreat can be just what you need.
Work toward financial freedom, no matter how slow it may seem.
For those coping with financial stress, making sure you have enough active income coming in can be difficult enough. However, focusing on your future and developing financial freedom is essential to improving your situation as well. Without actively investing or saving money, you won’t be able to work your way out of your current predicament and experience a better quality of life. This can be especially problematic if you reach retirement age and don’t have enough support to take care of yourself moving forward. This also doesn’t take into account the burnout, poor wellbeing, and impacted physical health that comes with constantly working.
One great way you can get started is with a brokerage that offers robo-advisors. Robo-advisors provide investment advice so that you can get the support you desire with minimal human interaction, which can often reduce trading fees and help beginner investors boost their profits. All you have to do to find one is to look for the best brokerages that offer them in your country (for example, looking up “robo advisor Canada“). Whether you’re a fan of brokerages like WealthSimple Questrade or CI Direct Investing, there are ample opportunities to work on your financial future affordably. It all begins with a quick sign-up and a simple choice on your behalf.
Look for more opportunities to bring in money.
In today’s economy, side hustles have become increasingly common. On the lower end of things, you have items like surveys or secret shopping that can earn you a couple of bucks here and there during your free time. In the middle, there are gig economy apps like delivering groceries or food to make some better money when you’re not working your main job. On the higher end, some may choose to create their own business as a freelancer or start a blog. No matter what appeals to you, try to find ways to bring in extra money, as this can be a solution to your money troubles and reduce some of the stress you’re experiencing.
Financial stress can be consuming, but there are solutions to the stress and the underlying issues themselves. Whether you need help to alleviate your stress, solutions to help you make more money and afford basics, or tools to work toward a brighter financial future, use the tips offered in the guide above!