Depressed and Worried About Finances? How to Become More Financially Savvy

No one starts off in life wanting to worry about money. In fact, most of us dream of achieving wonderful things, including the ability to buy what we want, when we want it. It’s only after a series of disappointments — some call them hard knocks — that we come to the realization that money only goes so far. If we fail to learn the lessons of budgeting and saving, we’re destined to keep running into financial problems. This can lead to many a sleepless night, accompanied by worry and depression about finances. Finding a path from what I’ll call financial illiteracy to being more financially savvy may not be easy, yet it is doable. I know. I’ve been down this path and can firmly attest to the more secure and confident future at the other end of the journey. Here, I’ll share some of my experiences in the hope that they may be helpful to others struggling with financial woes. Learn how to budget. Making ends meet is a difficult lesson to learn and takes a lot of practice to feel comfortable stretching available household funds to cover necessities. Finding any leftover money to pay for non-essential items, gifts, entertainment, travel, personal services such as a much-needed massage or music or dance lessons for the kids can seem improbable. Here’s where learning how to set and stick to a budget comes in handy. In fact, without a budget, it’s too easy to fall into the trap of relying on credit cards to not only get you through the lean times, but also to...
Source: Psych Central - Category: Psychiatry Authors: Tags: Anxiety Depression Money and Financial finances Financial Burdens money problems spending Source Type: news