Tag: financial planning

What to Do When Your Finances Are Stressing You Out

Financial stress is a common burden for many young families.

Growing a family is no small feat and finances have a lot to do with it.  Children come with their own unique set of needs and financial obligations and the more children you have, the more of a financial burden it can be.

Choosing one parent to stay at home with the kids can also create a stressful scenario as the family moves down to one income.  All of this added stress caused by finances can have a big impact on a person’s physical and mental health.

So what do you do when your finances are stressing you out?
When Your Finances Stress You Out
*This is a sponsored post for which I received compensation. As always, the opinions in this post are my own.

Budget

Obviously, the first step is to figure out what your financial situation is.  If you want to reduce the amount of stress you’re under, you need to make sure that you’re living within your means.  This normally requires making a list of all of your income sources and then another list of your mandatory payments and purchases and figuring out what’s left over.

You should review your budget at least every few months, and definitely when there is any kind of big change.  A new baby, moving, purchasing a mini van or even a family vacation can all have an impact on the budget.

Knowing exactly how much you have to spend each month can give you a sense of control and direction, which will help to reduce stress.

Prioritize

Family priorities are different from those of a young bachelor or single woman.  If you haven’t already discussed and ranked your family’s priorities, then now is the time to do that.  Spend your money on the things that are most important first, and leave the things you could do without until last, and only if there is anything left over afterwards.

This can be a tough decision but it all comes down to what is most important to your family.  Life insurance, for example, can be a huge priority for some, and not nearly nearly as important to others.  If this is the case for you, then you could consider selling your life insurance policy for cash.

While it may be hard to decide, knowing that every cent is going towards something important can make you feel confident in your financial situation.

Balance

Finding balance can be like searching for the Holy Grail for many young families.  Balancing a budget is just as hard as trying to balance time between work and family.  But when things are out of balance, it can leave us feeling frazzled, lost and stressed out.

In order to achieve the right balance, you may have to cut some things out of your life, like subscriptions, memberships or dining out.  Or look into options for earning more money, such as babysitting, selling something you own or starting a blog.

If the budget doesn’t balance, then it can cause a great deal of debt.  And the only way to truly reduce the amount of stress caused by your finances, is to make sure that you are only spending what you have. 

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Looking After Number One: Self Care Strategies for Moms

Moms tend to forget that they are number one.

When you’re a mom, it’s very easy to devote all your time and energy to parenting. Children have a lot of needs, especially when they’re younger.  And although their needs tend to be time sensitive and consuming, using the right self care strategies can ensure that you make yourself a priority.  It’s important to be selfless, but it’s also crucial that you find the time to look after number one.

Here are some helpful self-care strategies that moms should remember.
Self Care Strategies for Moms
*This is a collaborative post and may contain affiliate and/or paid links which means that if you click on one of these links and buy a product, I may earn a small commission at no additional cost to you. Rest assured that I only recommend products that I love from companies that I trust.

Managing stress

Stress is a very common problem faced by parents. Sleep deprivation, having to be on the go all the time and feeling like you never have enough hours in the day can all increase the risk of stress. Other factors, such as relationship worries, money problems and trying to balance work and parenthood may also play a part.

If you’re struggling with stress, the one of the best self care strategies is to try and work out exactly what is bothering you and causing you to feel on edge. Often, there are practical solutions.

Take the example of managing your money. If you’re finding it tough to get by from month to the next, or you’re trying to figure out ways to boost your credit score to get a mortgage, or you’re attempting to pay off debt, there are steps you can take. It’s useful to see a financial adviser, to start budgeting, and to use services like my fico to monitor your credit score.

There are myriad causes of stress, but if you let them take hold of you, even the most innocuous-seeming problem can spiral into something all-consuming. Learn to spot signs of stress, and try and manage it before it gets worse. Everyone is different, but popular self-care strategies include exercise, meditation, and creative activities.

11 Things Moms Do That Can Harm Their Mental Health
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Taking time out

It’s no lie that parenting is a full-time job. Even when kids are fast asleep, as a parent you’re still thinking about them and probably worrying about them too. Children do take up a lot of time, but there’s always room in the day for a bit of ‘me time’ too.

Make sure you take advantage of breaks.  Schedule in half an hour to do yoga, an hour to catch up with friends or a night off from time to time to go out with your partner. It’s so important to be able to have that time out to recharge your batteries, relax, and connect with others without the kids in tow.

We all love our children, but there’s no harm in having a breather now and again.  Scheduling some alone time is one of the most important self care strategies a mom can do.

Self Care Routine for a Stay at Home Mom
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Doing what makes you happy

When you become a parent, you tend to focus on what makes your kids happy, but try not to lose sight of what perks you up or brings a smile to your face.  None of these self care strategies even matter unless they’re bringing you joy.

It’s crucial to work on your mental health and to find time to pursue hobbies and interests, engage in social activities and enjoy time doing things you love. Whether you like reading, painting, writing, dancing, or running, give yourself time to do what makes you content.

As a mom, you probably spend most of your time looking after your children.  While they may feel like your number one priority, remember that you are still responsible for taking care of yourself too.  And you will only be able to take care of them if you also take care of yourself.