Five Sneaky Ways Stress Can Ruin Your Finances

Often times people experience stress about their finances. This causes sleepless nights, arguments, and even anxiety. Did you also know stress itself can impact your finances? It’s a vicious circle but luckily you can stop it! Review the sneaky ways stress impacts your finances and start gaining control over your life and your finances!

Stress Can Cause Major Problems

Symptoms of stress according to WEBMD include: headaches, upset stomach and other digestion problems, aches and pains, low self esteem, frequent colds and infections, lack of energy, insomnia, depression, anxiety, and becoming easily agitated, frustrated and moody!

Stress is a real problem in our society and can greatly impact how we function.

Below are five ways our finances are affected by stress. I encourage you to reflect on each one and determine if your finances are being affected.

1. Your Immune System Can Affect Your Finances

Being sick, especially in America can be costly. Not only do you have to pay co-pays for doctor’s visits, but you also have to pay for medicine and possibly time off. This is especially true for hourly workers since many positions offer little to no sick pay.

Getting sick at some point is inevitable, but the overly stressed get sick more frequently. People that are not managing stress symptoms are more susceptible to infections and viruses due to the body’s decreased ability to fight off antigens. This article from Simply Psychology explains the process perfectly. If you find yourself getting colds, headaches, viruses, and other common ailments frequently, you might want to evaluate your level of stress.

Your Mind Can Affect Your Body

Listen, what is going on in your mind really can affect your body. I understand that people get sick regardless of their stress level, but stress can really take a toll on your body. I know that if I am struggling with stress I tend to get headaches much more frequently. I also know that if I am not sleeping well I tend to have frequent stomach aches and heartburn. Managing stress will help you have less doctor’s visits, and more money in your pocket!

 

2. Stress Is Affecting Your Work Performance!

As I mentioned earlier in the article stress can cause anxiety, depression, low self esteem, a weakened immune system, agitation and moodiness. All of these things can affect your work performance!

Physical Symptoms Affect Work Performance

If you are frequently missing work because of doctor’s appointments or sick days this can affect your work performance. You may miss out on important meetings or deadlines due to physical health symptoms. Stress can also cause headaches which can make it difficult to concentrate. Although you work hard, and a lot of stress you experience can be from your job, it is important to really pay attention how stress is affecting you physically.

Emotional Effects of Stress Can Hinder Work Performance

How stress affects you emotionally can impact work performance. Symptoms of depression and anxiety can affect your ability to focus and get tasks done successfully. Low self esteem can affect your confidence level. Confidence is important because it helps you have faith in yourself and perform to your full potential.

People that lack confidence are often very capable, but their lack of trust in themselves is very apparent to others. If you don’t have faith in yourself it may be difficult to get others to have faith in you. I know it can be difficult, but work on building your self esteem because I know you have the ability to do anything you set your mind on.

How Does Job Performance Impact Finances?

Job performance impacts finances because it can affect job security. If someone has confidence, works hard, doesn’t miss a lot of work, and has a positive attitude they are more likely to be promoted, get raises, and survive layoffs.

If you are managing stress effectively you have a better ability to solve problems and challenges that happen in the workplace.

If you do not have a “standard” job and work for yourself, managing stress is equally important. By being more physically and mentally focused you have the better ability to reach your full potential.

Since you want to make the most income possible in order to reach your goals and dreams, making sure you are performing well, at whatever job you choose, is important!

3. You Are More Likely to Seek Out Convenience Foods When You Are Stressed

My husband used to eat out almost every day for lunch. After we would both get home from work we would be so exhausted we would order take out or pick up something “quick”. When we finally started managing our finances we realized that these habits were costing us a fortune. We would sometimes spend over $300 a month on restaurants, take out, gas station food item purchases, convenience foods, and vending machines.

That’s $3,600 a year! Which is crazy!

Unfortunately, it is really common, and really easy to do.

We tend to become so overly stressed that we seek out convenience food, even though in the back of our mind we “know better”.

Stress can be so physically and mentally draining it causes our bodies to crave instant relief, and often affects our ability to focus and make good decisions.

Convenience Foods Cost More, and Not Just Financially

Convenience food costs more. Often times if I go to a grocery store to purchase a bottle of brand name soda and notice that a 2 liter bottle is often cheaper than a 20oz bottle. This never made sense to me, but stores continue to do it because they make so much profit.

Convenience food is often unhealthy. It is ok to eat sugar or an unhealthy favorite snack once in awhile, but poor nutrition does impact your body. If your body is not healthy you may experience more health problems. These health problems cause more stress, which affect your work, your finances, etc.

I hope it is becoming apparent how important it is to manage stress, because stress can negatively impact all aspects of your life!

Planning Meals and Preparing Healthy Food Can Really Help!

If you are sick of spending so much money on unhealthy food start meal planning. Meal planning is really simple. If you plan and prepare food ahead of time you are less likely to eat out and spend money on junk!

It’s Ok To Eat Out Sometimes!

My husband and I still enjoy take out and restaurants, just less frequently. It is perfectly ok to splurge once in awhile, you just have to have balance!

4. Stress Can Cause Impulsivity!

Stress has the tendency to sneak in and affect our decision making skills. If we are not paying attention to our mood we may subconsciously gravitate towards spending money to improve our mood. This is known as “Emotional Spending”, but I call it “impulse spending” or making an “impulse buy”.

According to Investopedia  :

“Emotional spending occurs when an individual spends money for the sole purpose of improving a mood. Some reasons people engage in emotional spending are to: improve or maintain a mood, cope with stress, deal with loneliness, and improve self esteem.”

Impulse spending can greatly impact our finances, and may also affect our relationships. Out of control stress can a shopping addiction. I have seen shopping addictions not only ruin finances, but also ruin marriages. Check out this article on how to stop money from destroying your relationship if it is something you are concerned about.

Most of the time people that are stressed just make small “impulse buys”, but these purchases add up over time.

By better managing stress in your life, you are more likely to make better decisions that will help you spend less and manage finances more effectively!

5. Too Exhausted To Budget!

Before I really started to want to control my finances I had no idea what I was spending! I am a naturally frugal person, so I thought I was fine. What I didn’t realize is that I was spending too much on items that didn’t really matter.

After I started paying attention to my finances and spending habits I realized that I was wasting so much money on insignificant items. Once I started spending more purposefully I still was able to have all my needs met, enjoy life just as much, and rapidly pay down debt!

We tend to waste money when we don’t spend purposefully. Most of us don’t even remember what we have actually spent money on.

Budgets Are Often Neglected Because Of Stress

I talked with my sister the other day, and she told me she really wanted to budget but was so stressed out. She has a tough job and a family that she cares for. At the end of the day she has a million things to do, that are more way important to her than creating a budget.

I totally can relate and understand where she is coming from.

Unfortunately, if you really want to gain control of your finances budgets are vital because they will reveal your spending weaknesses and help you correct them.

Actually, Once you have a budget and automate your spending, managing finances become easier!

Invest Time Into Setting Up A Budget, That Time Will Pay For Itself

Even though you are overly stressed and have limited time I encourage you to start budgeting. Budgets do not have to be complicated, they can be really simple. I am in the process of writing an article about how to successfully start a budget, look for it really soon!

Managing Stress Properly Will Help You Become Rich!

Stress can greatly affect your life and finances. It can get in the way of your goals, and have a negative impact on your life!

Don’t Let It!

In just by recognizing how stress impacts you financially you have taken the first steps to manage stress. You can learn how to combat stress so that you can meet your financial goes and achieve your dreams.

Learn To Manage Stress Properly

Take care of yourself, learn your unique stress symptoms, and learn techniques to manage stress.

Many people manage stress differently. While one technique may help me, it may not help you. I encourage you to explore different stress management techniques and practice these techniques daily!

Most important, love yourself, take care of your body, and give yourself a break!

Most of the pressure you experience was created by you. Stop being so hard on yourself. Take a break and allow yourself to figure out how you can manage stress the best way.

If you would like to learn and explore different techniques on how to manage stress you’re in luck! I am currently in the process of writing a comprehensive article on how to manage stress effectively.

Like me on Facebook and Subscribe to my blog to get updates on managing stress effectively. I will be offering a very exclusive freebie on stress management VERY SOON!

How does stress affect your life?