Wednesday, March 17, 2010

Anxious About Money

When the very things that define us our job, our future – seem imperiled, naturally we feel insecure. But no matter how fearful you may feel about your financial future.

Here’s how to regain control.

1. Get a grip – list your concerns on paper and then ask your self “how realistic is this fear?” Not sure? Ask trusted love ones whether your worries about your pay slip or your terror of becoming a bag lady are justified.
2. Attack saving money as a family – establish weekly money meeting to discuss the family finances and to identify strategies on how to cut costs. Give the kids a vote and solicit their ideas on how to have fun together inexpensively.
3. Establish an energy fund – one really good way to allay fears is to have a reserve. Assembling a six month cushion of living expenses can seem daunting, so start by setting a small achievable goal, such as banking extra money a week.
4. Stay financially conscious – three successes you’ve had a capital conversation, such as bringing your lunch to work on more aggressively, such as quitting smoking.
5. Fight anxiety with action – facing your fears and taking steps to reduce your anxiety always makes you feel better start by gathering information, say, on how you can get less expensive health care.
6. Economize – trim every unnecessary expense from the household budget. Grow veggies instead of begging in front of the table. In place of a vacation, complete DIY project around the house.
7. Create new sources of income – clean out your house, and for won’t believe all the thing you have to sell.
8. Take a long view of time – remind your self that economy is cyclical. What goes up must come down, but what goes down also eventually goes up!

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