Your Life in Perspective (The Introvert's Perspective by Ælfræd)

 

Stress. As long as we are living in this mortal world, we will experience it. But the good thing is even stress has its benefits. If dealt with accordingly.

 

"sad-mature-businessman-thinking-about-problems-in-living-room" by Andrea Piacquadio is licensed under CC0

 

 

 

 

Having Some Stress Is Actually Good for You

 

According to a study conducted by Berkeley University, resulted that some amounts of stress are good to push you just to the level of optimal alertness, behavioral and cognitive performance.

 

To be a little more technical, having a little bit of stress (Acute stress) is beneficial because it will make you a much stronger person. Chronic stress is a different matter and must be handled accordingly. Seek professional help if possible.

 

For a quick rundown of good stress benefits, you can read this healthline article.

 

 

 

Money Is the Top Leading Cause of Stress

 

A 2010 study from the American Psychological Association states that Money is the leading cause of stress in America. Around 76%.

 

Jump to 2021. A survey was commissioned by the banking software solutions company Backbase, which resulted 70% of Filipinos are stressed when it comes to finances. This makes the Philippines the most stressed nation in the Asia Pacific when it comes to money.

 

 

Dealing with Financial Stress

 

If we look at things at a high level, solving your money issues will involve tackling two challenges:

 

• Cutting down your expenses
• Increasing your income

 

If you can do this and maintain momentum, you will never have any issues with money again.

 

You now have the outline of what to do. The next step is how to get there. The goal itself is not that difficult. Paving the road to it is the challenge.

 

 

 

How Do You Cope with Financial Stress

 

 

Fix Yourself First

 

You might be wondering what I mean by this.

 

We humans are built for constant movement. Our bodies are not built for the couch. If you laze around, your brain wanders and will most likely focus on the negative things that is happening in your life.

 

To combat this, you need to get active. Physical activity release endorphins that can help you develop a more optimistic and empowered mood. Regular activity can help prolong your improved mood, giving you a better foundation to combat your financial stress.

 

 

Controlling Your Expenses

 

Cutting down your expenses is the easiest and quickest method.

 

All you need to do is track all expenses for at least three months. Having three months' worth of data gives you a clear picture of your money flow.

 

Rank the expenses from most to least important and rank them honestly.

 

For example:

 

• Recurring Expenses like Rent or Bills
• Household Expenses like Groceries
• Miscellaneous Expenses like Subscriptions

 

After ranking your expenses, you can then start eliminating what you deem unnecessary. Expenses that you can live without having one. For example, having multiple subscriptions to streaming services might be fun, but is it necessary to have that many subscriptions?

 

You can try to convince yourself that it is, but you know deep in your heart that it is not. You can't just give it up because it is painful to lose some privilege.

 

But that is the reality. Cutting down your expenses will be painful and agonizing. However, this is for your future, so you might as well clench your teeth and face it.

 

 

Increasing Your Income

 

Cutting your expenses is only half the battle. And there is a limit to what you can cut.

 

The next step is to find ways to increase your income.

 

Income is divided into two categories:

 

• Active Income
• Passive Income

 

A prime example of active income is your job/career. You are actively expending your time and effort for money.

 

An example of passive income is rental income. A massive effort will be involved when starting. However, once you are done with the setup, your involvement will be minimal.

 

If your time permits and your HR allows it, you can find a Part-Time Job to increase your income. Active income is ideal if you want to earn money quickly.

 

If working part-time is not your fancy, you can go with the passive route like setting up an online store. Passive income is ideal for long-term financial planning.

 

 

 

Closing Thoughts

 

Coping up with financial stress is never an easy task. It involves a lot of sacrifices, effort, and time to be financially stress-free.

 

You can achieve this by cutting down your expenses and finding ways to increase your income.

 

Also, talk to the people you trust the most. Be it your spouse, your parents, siblings, or friends. Talking to someone is proven to reduce stress levels.

 

And most of all, don't forget to Pray.

 

 

 

What you should do today

 

 

 

 

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