Do you not have enough money and can barely make ends meet until the first of the next month? In this case, you are like many people, because very few people have an abundance of financial resources. Occasional shortages are completely normal. If this situation persists, then it's high time for a Changebecause money worries make you ill.
Money worries can affect anyone, because the Causes are of a different nature. It is not always due to insufficient income. There are also people with money worries despite a good salary. In general, the following reasons come into question:
If the income is not enough to cover the most basic Needs to satisfy your needs, this causes great anxiety. If you only receive a small pension, are unemployed or earn very little, this leads to existential fears. This depressing situation not only weighs on you materially, but also psychologically. You have no prospects for the future and despair.
Some people spend more money than they have at their disposal. Many high earners are also affected by this phenomenon. This leads to a debt trap that you won't get out of any time soon. It is important to manage your money wisely and rethink your investments.
Many people find themselves in need through no fault of their own. Reasons for this include chronic illness, urgent support for family members in need and disasters. A good example is the flood disaster in the Ahr valley. Numerous residents lost all their belongings overnight. Other reasons are the Separation from a partner or the death of a breadwinner.
Money worries are a stress factor. Stress impairs health. People with money worries are more likely to suffer from depression and addictions. Loss of desire and appetite as well as sleep disorders, panic attacks and Burnout are also undesirable side effects of high levels of debt. In the worst case, those affected commit suicide.
If you sometimes think "Money worries are getting me down", then you are in the best company of many fellow sufferers. As in many areas of life, positive thinking also helps with money worries because it releases inner blockages and makes you capable of taking action. It's important to keep a clear head and keep a close eye on your income and expenditure.
An optimistic outlook on life also helps you to focus on the Problem solution and find effective solutions. Those who think positively are open to new ideas and, with a bit of luck, can tap into lucrative sources of income.
The most important thing is a Realistic overview about your current financial situation. Analyze your income and expenditure and see where the money has gone. What is available to you? How much are you spending? What are you missing?
Think about whether it is possible to reduce some of your expenses. If you are short of a certain amount, think about how you could raise the money.
Sometimes money worries come as such a surprise that you have to find a solution immediately. A situation like this is particularly stressful. The following tips will help you:
There are debt advice centers especially for cases like yours that can help you with expert advice. On top of that, confide in friends and relatives. It's good for you to have their support and understanding.
Never neglect self-care, no matter how bad you feel. Get enough sleep, eat healthy and have a good time. This will give you the energy you need to cope with the situation.
Think about where the main problems lie. Are there several creditors or just one? Possibly accept they can defer payment or pay in installments. Be honest and think about how it could have come to this. Maybe you can find a solution by tackling the cause.
Is there anything you can do without? If you are in an acute financial crisis, it is best to save money wherever possible. When shopping at the supermarket, opt for private labels and buy more second-hand goods.
Do you own something that you don't really need? Expensive sports equipment, clothes or decorations? Perhaps it is possible to sell a larger car and buy a smaller one in return. Renting out vehicles, tools and sports equipment is also an option if you have such things.
The best strategy against money worries is prevention. Don't let it get that far in the first place and take a step-by-step approach to financial freedom.
To live without money worries in the long term, you need to know where you stand financially. How much money do you have at your disposal, what is your monthly income and expenditure? Ultimately, the long-term goal is to build up wealth.
One important point is freedom from debt. Paying off your debts is a top priority. Do without unnecessary things and pay off your debts first.
Find ways to increase your income. This could be a part-time job or a passive income act.
Get rid of superfluous items and reduce your spending in general. Think about whether you absolutely need it before every purchase. Minimalists are often happier people because they carry less baggage around with them. Ownership is an obligation. You have to regularly maintain many possessions and keep them in good condition, such as vehicles, swimming pools and sunbeds. This only costs money unnecessarily.
As already mentioned, self-care is very important. Take advantage of wellness offers that cost nothing and go swimming at the lake in summer or make yourself comfortable on the sofa at home.
People with a financial cushion are less likely to suffer from money worries. The nest egg helps you to overcome shortages and you have a good Feelingthat strengthens you psychologically.
Is there any money left at the end of the month? Great! Invest the money safely and profitably. Shares, cryptocurrencies and precious metals promise particularly high returns. However, these forms of investment come with a price risk connected. Find out where you can get the most interest and then decide on a call money account or a savings bond, depending on what type of investor you are.
The best way to avoid money worries in the future is to draw up a budget. Make a note of all your income and expenditure in it. This will tell you how much money you have available each month. Plan a fixed savings amount.
There is a property called financial intelligence. People with this talent are less likely to suffer from a lack of money because they have a sense of how much they should ideally spend. Even if many people berate the greed-is-cool mentality, it still has its good sides. Be open about your love of money and guard it like a treasure.
It's not just your mental attitude that influences the way you handle money, but also your general lifestyle. There are people who overestimate or underestimate the value of money and spend it frivolously. No matter how much they have, it will be gone in no time. Practice Modesty and think carefully about every purchase.
What costs a lot of money is regular spending on things that are unhealthy in and of themselves anyway. This includes cigarettes, for example. If you stop smoking, you will save several euros every day, which will add up to a considerable amount over the course of the year.
Convenience is also a common reason for money worries. If you generally buy your meals in restaurants, takeaways or bakeries, don't be surprised if you can't make ends meet. It is much cheaper to cook your own food.
The best way to combat money worries is to have reserves and regular income. In the best case scenario, your assets will increase almost automatically. What many people don't know is that it is possible to build up a substantial financial cushion in the long term with just a few euros a month.
Money worries are stressful, but with the right mindsetWith a long-term perspective and clear steps, you will regain control of your money situation and take the path to financial freedom. Our Masterclass "Never worry about money again" gives you valuable tips for a carefree future.
