Financial stress is a common complaint that affects every household to some degree. You can recognize financial stress by the pressure it imposes on your family:
- You worry over bills, especially ones that are overdue.
- Interest on revolving credit accounts keep pilling up when you only make small payments on bills.
- You worry over not being able to buy everything you want, especially if your children have to do without the things they want, the things other children have, or the things you want them to have because you never had them as a child.
- You worry because you can’t save any money.
- You feel social pressures because you can’t keep up with the neighbor’s lifestyle.
- You may have family tensions leading to arguments - - husband vs. wife, parents vs. child.
- You may get flak from your in-laws.
Financial stress can be defined as a condition that occurs whenever income is less than expenditure. If you are a victim of financial stress your only solution to the problem is to balance income and expenditure. This balancing act can take two forms:
(1) either increased income or (2) decreased expenditure.
If you are the only earning member in your family, it can increase your burden all the more. After all, taking care of the needs of your family members is not a joke.
You increase your family income by requesting your spouse and/or educate children to support you financially.
Alternatively, you can reduce your expenditure by cutting down on extravagant things or luxury items. But this requires careful planning and wise budgeting.
In order to make yourself financially stable in the long run, you might have to adopt both options. Apart from balancing the monthly budget, there are things that need serious consideration. Like your children’s education expenses, marriage expenses, your parents medical bills or saving something for yourself in the future. All this requires meticulous planning. And it is advisable to seek an expert’s help, if you find it difficult to handle the investment part of your family budget.
Next issue (July 15th): Q#7 - "The Effects of Being Stressed"
Nada Adams is a Business Intuitive who brings razor sharp Clarity to empower clients in Maximizing Success & Fulfilling Goals with Peace and Balance.
Sign up today at www.vipresultscoaching.com for your FREE access to "VIP Results360” ~ a bi-monthly ezine for business owners and entrepreneurs. As your gift, you'll receive a program that will increase your focus and reduce your overwhelm.
Sign up now if you're ready to:
*Cut through the Fog and Eliminate blocks
*Effortlessly make more money VIA Product Development
*And Experience Time & Financial Freedom
Posts
No comments:
Post a Comment