Keep stress within limits with a financial game plan
BOTTLING up financial stress is not uncommon, particularly because many of us would prefer not to talk about it.
But tackling niggling monetary worries head- on is the best way to get on top of your finances. New Galaxy Research shows most Australians ( 73 per cent) feel anxious about their finances and almost half ( 43 per cent) say they’re uncomfortable talking about money.
Eqeus financial planner Gareth Colgan says Australians too often have a “she’ll be right attitude” and many need to implement financial goals.
He says just working out your household income and weekly expenditure will get you well on your way to a happier financial future.
The biggest mistake is to bury your head in the sand, the research shows, because most of your money is being sucked up by bills and other living costs.
Simply starting a savings plan can help you remove any monetary stress, says MoneySmart’s senior executive leader Miles Larbey.
He also urges people to take charge of their regular costs, including utility and phone bills by marking on the calendar when they are due.
Add up how much your big bills cost and put aside an amount to cover these expenses when your pay arrives, he adds.