Money stress

Money stress

Most people are financially worried in some way or another. We seldom realize its presence, but it is there, evident ruling like a boss in our subconscious mind. Chronic financial stress can make our life miserable. Financial stress doesn’t get equal status as emotional or physical or mental stress does (point here is not demanding an equal status though!)

In the list of stress like anxiety, nervousness, blood pressure, high stress level, depression, body aches that prevail today, “financial stress” comes up like an annoying spam email but, with grave after-effects.

TOP FINANCIAL STRESS:
*Money for food, clothes and living
*Car purchase
*Dream House
*Good Education
*Low family Income
*Bad Investments
*Business gone bad

Debt stress
Debts are both good and bad. It requires a degree of self control and financial knowledge to avoid getting caught in the debt cycle. Worst case scenario: cycle can last a lifetime. Little time it takes for debt to turn into a big gorilla on your back, virtually blocking all other financial areas of life-home rent, a home, and a job and keeping up a job and lastly, a retirement plan.

Financial planning is really important. Even if you’re a student, it’s crucial to prepare for the future; taking a longer term view of financial market. Day to day budgeting is easier to manage at this stage, but concepts like health care, insurance, investments, share-holding, building home will become a reality for you one day. It’s better to get a hold of these concepts and prepare yourself realistically and intelligently for the future. Consider the actions which can assist in reduction of financial stress of tomorrow. Our personal finance figure should be invested in a customized manner which ensures the inflow and keeps the flow in our bank account forever no matter.

Stress can prove to be a positive thing, IF taken in a good spirit, GIVEN it serves to motivate us to take corrective actions!

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Behavioral Economics-II

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