Today is Bell’s Let’s Talk day. The purpose of this day is to remove the stigma that surrounds mental health. The ability to reach our full potential depends on how well we can cope with the day to day stresses of life. For some, these stresses consume them and it affects their ability to function effectively on a day to day basis. Mental illness can result from biological, developmental and social factors.
Financial stress is one of the leading contributors to mental health issues among adults. Being worried about your finances or feeling intimidating about how to manage your finances can make it hard for people to make clear logical decisions that will actually serve them. Fear and panic takes over and as a result one’s mental and physical health are both affected.
There are steps you can take to reduce financial anxiety. First, you have to understand and accept where you are. Take inventory that means figuring out what your strengths and weakness are and then develop a plan of action. This plan of action requires you to set clearly defined financial goals for yourself and have a strategy for reaching these goals. I suggest you start off small, so as to build your confidence. When you start to achieve goal after goal, it will wire you for more and even bigger successes.
The second step is when you fall off the tracks and you will, don’t beat yourself up. Simply stop, reassess and start again. Learning a new behaviour takes time and it is natural to get resistance, but persistence is the key to success here.
Finally, reach out and get some help. There is a lot you can do on your own, but sometimes you may need guidance, advice and moral support, to help you achieve your desired level of financial well-being.
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