Explore by category:
May 10, 2021

How to Lower Your Money Stress

Author: Vanessa Stoykov
Category: Financial Freedom
You don’t have to go far to find people who are stressed about money. In fact, a recent survey I commissioned showed that up to 40% of Aussies believe they will have to work longer due to the financial effects of COVID-19. That fact alone would be causing a lot of stress for people.

But the even bigger stress for most of us is right now: how to juggle this bill, pay that, and keep it all together. So how do you get on top of it all? While the obvious answer is to earn more, that is not always an option. So, with what you have, here are some ways to mentally get around the challenge of money related stress, and start focussing on more positive areas of your life.

1. Understand your true situation.

Exactly how much debt do you have? What are all your monthly payments? Then you can do a true assessment of your financial situation. Many of us don’t know the true figure, as you are not taking into account bills that arrive quarterly and things that are bought annually like presents.

Take everything into account  – you can use a budget calculator that has been built for just this at MoneySmart. This gives you the power to make decisions about your life beyond 2020. Can you live somewhere less expensive? Take public transport? Whatever the decision, at least you have the power to make them and lower your stress by being informed and thinking of a plan of Christmas and into the new year, instead of just worrying.

2. Start thinking what you can do differently.

Obviously the big bills have to be paid to live. But what about things you don’t have to spend on? This year for Christmas our family has agreed for the first time not to give gifts for the adults, and just buy something for the kids. None of us need anything and it is a big saving not to spend on gifts.

We would rather focus on the time together and eating food and being merry. Having these conversations with family can do wonders for lowering your stress.

3. Spend time over…

Continue reading the article >

Vanessa Stoykov writes for Secrets of the Money Masters, a programme she founded, now owned by tech giant Iress for the education of financial advisers

Until next time,

Vanessa

Leave a Comment

  • From Kids Debit Card on Changing Conversations You Need to Have with Your Kids

    The goal of the following article is to assist parents have meaningful conversations with their children about money and financial literacy by providing them with practical guidance and useful recommendations. The author discusses goal-setting, budgeting, saving, and investing, and offers advice on how to have these discussions with people of varying ages. The essay is informative and easy to read, making it a valuable tool for parents who want to teach their children about money.

    For More Info:-https://busykid.com/kids-debit-card/

    • From admin on Changing Conversations You Need to Have with Your Kids

      Thanks for your comments!

  • From Gale Pickles on It Was the Best of Times, It Was the Worst of Times

    So enjoyed this, I will share if that’s okay with you, many of my friends will benefit from your journey.
    Many Blessings for 2023
    ♥️♥️♥️♥️♥️

  • From ScottViabe on Three ways to embrace change to improve your life

    Hi all! This is a good site.

  • From David Horton on How Finfluencers are teaching millennials and Gen Z about money

    And once again the regulator finds a way to stop ordinary people from getting advice by placing high costs on people who do the right thing. If a finfluencer is actually trying to scam someone, it would not be hard to operate outside Australian jurisdiction.

    • From admin on How Finfluencers are teaching millennials and Gen Z about money

      They definitely have a place. People need advice and many are working on it to be more accessible. Watch this space!

  • From Camelia on IT'S NOT TOO LATE FOR YOU

    It’s never too late to learn something new and to start all over again. Unless you’re dead, you can do it.

    • From admin on IT'S NOT TOO LATE FOR YOU

      So true

Each day I wake up excited to inspire everyday people to open up and take control of their money, regardless of their history, goals, or savings amount. About Vanessa >>

Book

Discover a new way of seeing
life & money.

Download the first 3 chapters for free

Download

Authors

  • Vanessa Stoykov
    Vanessa Stoykov

    Vanessa has been passionate about writing and storytelling since her days of hiding under the doona with her torch to read after bedtime.

  • Kathy Skantzos
    Kathy Skantzos

    Kathy is a yoga-loving world traveller who also happens to moonlight as a business journalist and writer. She was the finance editor of news.com.au and the Managing Editor of CEO Magazine (Asia) before joining Vanessa and the evo squad.

  • Shayne Sommer
    Shayne Sommer

    Shayne is second dan black belt in karate, and a budding romance writer with a difference. Why? Because she writes romance stories that always have a money lesson.

  • Antoinette Colbran
    Antoinette Colbran

    Specialising in stories for 50+ women, Antoinette draws from her own experiences to help other women avoid the pitfalls and see the benefits of understanding their money situation.

  • Michael Crooks
    Michael Crooks

    Michael Crooks is a more than 20 year writer and documentary maker who has worked with Time Inc and the BBC, who wants to expose the truth from real victims of financial crime to help others avoid their mistakes.

  • Kim Payne
    Kim Payne

    Kim Payne has spent the past three decades as a speaker, trainer, business coach, and consultant in financial services. She has worked with and transformed hundreds of brilliant, educated, high achievers who are chronically under-living.

  • Rebecca Pritchard
    Rebecca Pritchard

    Rebecca Pritchard is on a mission to help men and women achieve equality when growing a family.

  • Antony Perring
    Antony Perring

    Ant is a writer, designer and business builder with a love of food, design and good living. He writes on food and money in an easy to do way.

  • Julie Hyde
    Julie Hyde

    Julie Hyde is a leader of leaders. A disruptor and a powerful people enabler who empowers leaders to make big things happen.

  • Joshua Pennell
    Joshua Pennell

    As a Dad to four kids and a business owner, Josh is passionate about family and finances and is known as The Family Finance Guy.

  • Sid Lal
    Sid Lal

    Sid is a serial entrepreneur who set up his first business when he was still in University. Since 2009 he has been heading Bruce Clay, first in India & more recently in Australia.

  • Lou Johnson
    Lou Johnson

    Lou Johnson believes in the power of sharing stories to build empathy, understanding and connection. Growing up surrounded by books and storytelling, alongside her drive to make a difference led her to a highly successful career in book publishing.

  • David Rae
    David Rae

    Dave is a CERTIFIED FINANCIAL PLANNER® professional and has been a financial adviser since 2003. He works with a range of clients and has a strong focus on ethical and sustainable investing.

Most Popular

Related Articles

Three ways to improve your money mindset

by Vanessa Stoykov

Money had fascinated me for as long as I can remember. Not necessarily the accumulation and growing of it. More, the impact it has on who we are, how we feel about ourselves and how others view us. Money and self worth are as closely linked as our...

Why 7 Minutes a Day Can Change Your Life

by Vanessa Stoykov

I have spent my career making educational content that explains concepts in financial services easier to understand and relate to. Have I succeeded? I have people who tell me their savings got them through COVID. I've had people say they got a...

3 Stories to Empower

by Lou Johnson

Have you heard that new research suggests that 30 per cent of girls show...

What I Learned from The Walking Dead

Walking dead actor rick grimes
by Vanessa Stoykov

I love a good story. One that takes me to other places, that makes me laugh, cry or just relax. And it seems while I have arrived to the party pretty late, there’s one series that I can’t stop thinking about. “The Walking Dead” has...