It’s no secret that money woes weigh heavy as a major source of stress for many of us. In this 2011 report by the American Psychological Association, Stress in America: Our Health at Risk, money is identified as the top source of stress for most Americans. Some degree of stress is healthy, but too much can have a major negative impact on your health and happiness. Therefore, addressing financial stress is vital to your overall sense of wellbeing, and I want to share with you a simple action that helped me out in this arena in a big way.
Budgeting might sound like a drag, but I found a way to do it that makes the most sense and lifted a huge load of stress from my shoulders. I believe one of the biggest factors leading to money-stress is not knowing your current reality and constantly fearing that you don’t have enough or are over-spending. Having financial clarity leads to prosperity, both in your bank account and your wellness account.
When I made a regular salary I was all about budgeting because I knew exactly how much money I would have each month, yet I still hated the task of recording expenses. Then transitioning to being my own boss and having multiple streams of income made the anxiety skyrocket because I felt I couldn’t set a budget at all. Each month I had no idea how much I would have coming in so how could I possibly dictate how much I would have going out? Stress!!
Then I found YNAB (You Need a Budget) and finally got the clarity I was looking for. This program is unlike any other I’ve found as it only lets you budget according to exactly how much money you have, not how much you theoretically have. Also, every single dollar is put to use and accounted for, so you don’t have money floating aimlessly without a task. This makes it much easier to spend and save while allowing maximum flexibility.
The result of having financial clarity is that you don’t have to continually stress about the unknown. Every time you make money or spend money, you are checking in with your accounts and your budget categories, knowing exactly what’s moving in and out. It’s an exercise in remaining present. Like with any positive habit, it takes some getting used to, but once you commit to it, in no time it will become your norm. For me it took about a month to get into full swing and I haven’t looked back (I’ve been using it for about 10 months now).
I highly recommend, if you don’t yet have a system of financial tracking, to find one that works for you to gain financial clarity in your life. Don’t procrastinate on this! The sooner you do it the happier you’ll be and your only regret will be that you didn’t do it sooner. It’s an empowering experience! YNAB is the best solution I’ve found, and their app is fantastic. CLICK THIS LINK to get $6 off your purchase of the software (and yes I get $6 too, but I wouldn’t recommend it if I didn’t use it myself and love it!!).
Happy money making!
P.S. Click the like and share links below to spread the financial wellness all around!
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