{"id":6908,"date":"2021-11-25T12:03:09","date_gmt":"2021-11-25T17:03:09","guid":{"rendered":"https:\/\/pierreroy.com\/?p=6908"},"modified":"2021-11-25T12:03:09","modified_gmt":"2021-11-25T17:03:09","slug":"overcoming-financial-stress","status":"publish","type":"post","link":"https:\/\/pierreroy.com\/en\/2021\/11\/overcoming-financial-stress\/","title":{"rendered":"Overcoming Financial Stress"},"content":{"rendered":"

Financial stress can play a number on one\u2019s self. Not only does it affect sleep, but it also leads to a decline in mental health as well as a poor social life. Unfortunately for Canadians, financial worries are the main cause of stress \u2014 even more so than personal relationships, health issues, and work. But what are the reasons behind all of these worries and how can you overcome them?<\/p>\n

Causes for Financial Stress<\/h2>\n

There are many things that can lead to financial stress. Of these things, the most common are high levels of debt, dealing with too many expenses (household or unexpected), and not being able to save money due to living paycheck to paycheck.<\/p>\n

If you are dealing with any of the causes mentioned above, you are not alone. In fact, according to a survey conducted by Leger on 2021 Financial Stress Index<\/a>, 51% of Canadians mentioned losing sleep over financial worries, and 77% feel that at least one aspect of their finances causes them to feel anxiety.<\/p>\n

Impacts of Financial Stress<\/h2>\n

Financial stress can cause a number on one\u2019s mental health. According to the Financial Consumer Agency of Canada<\/a>, those that report feeling anxious due to their financial situation are more likely to suffer from sleep issues, headaches, and strain in their personal relationships. What\u2019s worse is that anxiety related to one\u2019s finances can cause serious health problems like heart disease, high blood pressure, as well as depression. But don\u2019t lose hope \u2014 no matter your age group or income level, there are ways in which you can overcome financial stress.<\/p>\n

\"\"How to Get Yourself Back Into Good Financial Standing<\/h2>\n

Step 1: Create a Budget<\/h3>\n

When you\u2019re feeling stressed because of your personal finances, the last thing you want to do is think about money. It may be difficult for you to sit yourself down and create a budget<\/a>, but as hard as it may be, just remember that it will be worth it. Creating a budget is the single most important thing you can do when it comes to organizing your money. A budget will allow you to track all of your incoming and outgoing money, and will help you make a plan for bettering your situation and ridding yourself of stress.<\/p>\n

Start by calculating your net income. Then, track all of your expenses \u2014 this includes:<\/p>\n