What is Financial Stress?

Oct 30, 2019 | Financial Wellness | 0 comments

Your Finances and Your Life

Most Americans are living paycheck-to-paycheck, in debt, with very little saved for the future. It is no wonder financial stress is a leading cause of anxiety and stress in the average American.

According to Zig Ziglar there are 7 aspects of a persons life: Finance, Relationships, Spiritual, Physical Health, Mental Health, Education/Career, Personal. Of these we believe personal finance is a cornerstone. Not only because without intentional money management your basic needs cannot be met. But so you can achieve peace of mind, enjoy a happier, more fulfilled life. Without the proper management of your money your life can easily start to feel the ripples reach into the other parts of your life. This negative impact is what we call financial stress and it can manifest in many ways.

But before we talk more about what financial stress is, how to overcome it and what the benefits are. Here are all of the seven aspects of life and how your personal finances are involved.

Seven Aspects of Life

  • Financial: Managing your money, saving and investing for the present and future.

  • Relationships: Your ability to be present, and spend time bonding with the people in your life.

  • Spiritual: How your belief system impacts your money management; plus, your ability to give to missions that matter to you.

  • Physical Health: How much you can afford to invest in your health to maintain your health and keep your body free from disease.

  • Mental Health: The impact your financial situation has on your psychological and emotional well-being.

  • Education & Career: How much you earn and are are able to invest in your education, and career.

  • Personal: The freedom to spend on personal needs, and invest in interests and hobbies.

Each of the above aspects are interconnected. When you focus on one area too much and not enough on another, you will likely experience an imbalance which can leave you feeling stuck with no clue how to move forward. As you can see personal finance is particularly unique as it has an impact on all 6 of the other aspects of your life. With that interconnectedness is the unique ability for financial stress to negatively impact each aspect. In other words – how financially healthy or unhealthy determines a lot of your life experience.

What is Financial Stress?

This impact can be felt in either a negative or positive way, depending on your situation. But, if you are feeling financially strained studies are consistently proving that to deal with stress, many of us are falling in to unhealthy habits in an effort to cope. Skipping the gym when you are mentally exhausted because you can’t find the energy to work out. Heading straight home after picking up some fatty food in the drive-thru, or drinking a few extra glasses of wine. Then binge-watching Netflix to avoid your problems and emotions entirely.

You are not alone, we have all been there! Everyone has used unhealthy coping mechanisms to try and make themselves feel better. When you find yourself feeling stuck or you do not know where to start, avoidance may seem like a great option. But has it ever really worked?

Personal Finance and Your Well-Being

When you learn to master your personal finances, you will experience far less financial stress which improves your overall well-being.

When you take control of your finances you will experience:

  • Less anxiety and stress

  • Improved physical health

  • Increased self confidence

  • Improved focused and productivity

  • Healthier relationships

  • Freedom to pursue your calling

  • Ability to create a life you love!

So would you rather keep working to stay afloat with no real sense of control, avoiding your reality? Or would you rather come in to the present, spend more time with your family and have peace of mind when it comes to your financial future?

To learn more about how you can start on this journey toward creating a life you love- Message us at info@radcoaches.com or book a discovery call to find out how we can help you achieve your goals.

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