How To Tackle Financial Stress

Before taking the steps to begin a journey, it is important to understand the obstacles that may be in your way. This particularly is the case if these obstacles have prevented you from reaching that goal before. This is how I see the second step in the START™ method: “Tackling Your Financial Stress” as outlined in the new book Money Strong by Financial Finesse CEO Liz Davidson

Football season has wrapped up for the year and I am typically hesitant to use sports analogies, but I am an avid fan of tackle football, particularly defense. (Admittedly, I have never played any tackle football as it’s been all flag football for me). The defensive player has a task of pursuing the opposing ball handler of the team and rendering that person harmless. The offensive player has generally practiced for hours the maneuvers to wreak havoc on the defense and is also typically fast and shifty to get away from the defense. The reason I like to see good defensive football is that it takes the plans of well compensated offensive coordinators and very talented offensive players and renders them useless.

When it comes to the common issues we face that cause financial stress, you may feel like the system is working against you. If you are experiencing high amounts of credit card debt, you may feel like the banking system is sabotaging your financial plan. If you are dealing with payday loans, you may feel like the larger world takes advantage of those that come into hard times financially. If you are coping with life changing issues like a recent death in the family or divorce or a layoff, you can feel like the foundation of your financial world has been kicked out from under you and now you are hesitant to try to pursue your dreams again.

When taking on the attitude of a tackler, you are accepting that your obstacle has some advantages you may not have. You are recognizing that this issue may have beaten you before. However, the mindset of a tackler is that you are creating a solution to not only face this obstacle but also overcome it. Here are a few scientifically proven steps to help you tackle financial stress:

You are not alone. Some of the instances of financial stresses I mentioned above may sound familiar. Whether it is one of those issues or something else, there is likely a large group of people who have dealt with a similar issue. Begin to seek out professionals that can help you process your issue.

The best tackling I have seen on the football field is gang tackling. It is when you have several tacklers containing the offensive player, making it almost impossible to escape. Bring in a therapist to help you gang tackle your problem. Work with a coach or mentor to corral that issue. Your employer likely offers a resource to help you manage your stress.

Your current circumstances are not permanent. When you are dealing with stress, you may feel like the circumstances will never end. Whatever the emergency is today, it will likely be something else a month from now. The key is to not only focus on solving the immediate problem but also implement a plan to make the solution long term.

Make a plan. A great antidote to the out-of-control feeling of financial stress is to have a plan. A plan for your finances that is realistic and trackable can give you peace of mind when it doesn’t look pretty. Even though you may feel like you do not have time to plan, having one can help boost your health and free your time to do the things you love.

By Cyrus Purnell, Contributor