Awake with money worries? Three ways to stop

Awake with money worries? Three ways to stop

Vanessa Stoykov

If you are losing sleep worrying about money, you are not alone. In fact, a recent report showed that two thirds of Australians are worried about money.

But not being alone doesn’t exactly make you feel better. In fact, knowing that so many people are in the same boat can offer make you worry more – how will life change for us a country as these money worries become realities?

As a wise person once told me, though, worry doesn’t change a thing. In fact, you can consider worry an interest payment on a debt but paid in advance – it takes away your energy, your capacity to focus on other more positive things and your ability to enjoy life day to day.

So while I am certainly not suggesting that it’s easy to forget about your worries and do nothing about them, here are three ways to help you get back to sleep and dial down your anxiety levels.

  1. Set a ‘doom date’. What do I mean by that? Figure out when you will officially run out of money, or be in serious trouble. When do your savings run out? What date will you stop receiving JobKeeper? If you have money worries, you definitely have a date, but most of us don’t know when that is. So figure out your monthly expenses, count what you have and work your way back. Knowing your doom date can often stop you worrying about today or tomorrow – if it’s a few months away, or in March when JobKeeper ends, at least you know you have the time to make changes.
  2. Write down three ideas to either save or make money. This could be anything from turning the heating down a couple of degrees to selling things are that lying around your house not being used. Just taking action with ideas that are on paper helps your mind process that action is being taken, and worrying can decrease.
  3. Wake up and think of three things you are grateful for every day. Ironically, most of us start the day by looking at our phone and seeing bad news headlines that instantly set our mood for the day. Instead, don’t look at your phone and take 10 minutes to really think about what you are grateful for. It could be as small as a good coffee, but whatever it is, gratitude kills anxiety every time.

There’s no denying 2020 has been a year that has caused plenty of worry. I hope you can use these three tactics to make the rest of your year a little less stressful.

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