Optimize Your Financial Potential
How many people do you know who have no financial worries at all? If you’re lucky – maybe one or two, at most.
Financial difficulties and the inability to effectively manage one’s personal finances have reached epidemic proportions. Easy credit, the desire to appear “successful” and impress others, spending money to “feel better” when you are stressed out – these are several convenient excuses that have contributed to this problem. And this problem affects your health, your relationships and the overall quality of your life.
Anxiety associated with money problems can cause depression, substance abuse problems, sleep deprivation, compromised immune system, and poor choices in terms of caring for oneself.
There are ways to reduce the stress associated with your financial burdens and improve your health, but they take willingness and conscious effort on your part!
1. Think of ways to pay down your credit cards – perhaps you need to cut down on your social outings, stay away from the mall, walk away from that sweater you really don’t need and use that money to pay down your high-interest credit cards.
2. Before you spend money on any item, including in the food store, ask yourself, “Do I really need this?” If the answer is no, then walk away.
3. Prepare a monthly budget and stick to it. Include everything you spend money on and make sure you are making more than minimum payments on credit card debt.
4. Find ways to save money every day – carpool to work to save on gas money, buy a coffee pot and make it, rather than buying it every morning, bring your lunch to work, instead if eating out.
5. Put that change in a bucket – you’ll be amazed at how much and how quickly you save when you do this!
Another way to optimize your financial potential is to be sure that all your financial records and documents are up-to-date and accessible to trusted family members, in the event of an accident or untimely death. Your will, living will, power of attorney and all investment information should be current and stored in a safe place. Just make sure someone knows where that place is!
One more thing – if debt is not a problem – and you’re better off than most, one of the ways to optimize your life is to give to those less fortunate than yourself – a charity you believe in, a family member in need. One of the best ways to do this is anonymously. You’re not looking for credit here, you’re looking to help a cause or lighten a load. This is the true spirit of giving that reaps many rewards – in both the giving and in the receiving!
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