If you want to be less-stressed about money, say goodbye to these 9 behaviors

I’ve been there, you know. Lying awake at 3 am, stressing about bills, savings, or that unexpected expense that just came up. It’s a horrible feeling. 

But what if I told you there are certain behaviors that are fueling this stress? What if we could kick these habits to the curb together and start sleeping better at night?

In this article, I’m going to share some of these harmful behaviors and how to say goodbye to them. Some may seem obvious, others not so much. 

But trust me, once you let them go, you’ll feel a huge weight lifted off your shoulders.

Ready to stop stressing about money and start enjoying life again? Let’s dive in.

1) Impulse buying

We’ve all been there. You’re walking through a store and you see something that screams ‘buy me’. Or you’re scrolling through an online site and stumble upon an irresistible deal.

So, you buy it without a second thought. The problem? This can quickly drain your wallet and ramp up your stress levels.

Impulse buying is often a response to emotional triggers like stress, boredom, or the need to reward ourselves. And while it might provide temporary satisfaction, it doesn’t solve the underlying issue.

The solution? Start by identifying your triggers. Once you know what sparks your impulse buys, you can work on finding healthier ways to manage these triggers. 

You might find that taking a walk, calling a friend, or reading a book is just as rewarding – without the financial stress.

2) Not having a budget

Here’s a confession: I used to be terrible at budgeting. I’d keep a rough estimate in my head, but never formally wrote it down or tracked my spending. As you can imagine, this led to a lot of stress and financial surprises.

Then I sat down one day and made a simple budget. Nothing fancy, just income versus expenses. I allocated a certain amount for groceries, bills, and savings. And you know what? It completely transformed my stress levels.

Suddenly, I knew where my money was going. No more guessing or worrying if I had enough to cover an unexpected expense. And the best part? It gave me control over my money, rather than feeling like my money was controlling me.

So, if you’re like old-me and don’t have a budget, give it a try. It might seem daunting at first, but it’s one of the best things you can do for your financial peace of mind.

3) Avoiding the reality of your debt

It’s easy to fall into the trap of avoiding or ignoring your debt. But did you know that U.S. households carry an average credit card debt of $9,000? That’s a lot of money, and a lot of potential stress if it’s not managed properly.

Ignoring your debt won’t make it disappear. In fact, it can make things worse as interest accumulates and your debt continues to grow. The first step to reducing the stress of debt is facing it head on.

Make a list of all your debts, including credit cards, student loans, and any other obligations. Understand the terms of your debts – the interest rates, minimum payments, and due dates. 

This might be scary at first, but knowledge is power. With a clear picture of your debt, you can create a plan to tackle it, reducing stress in the process.

4) Giving into financial fear

Money worries can feel overwhelming. It’s easy to let fear take over, causing you to avoid your financial situation or make rash decisions. 

But here’s the thing: fear won’t help you make progress. In fact, it can hinder your ability to make rational decisions and contribute to even more stress.

This is where mental toughness comes in. Developing resilience against financial stress is key to navigating money worries successfully. 

It’s about confronting your fears, making informed decisions, and staying committed to your financial goals, even when things get tough.

In my book, The Art of Resilience: A Practical Guide to Developing Mental Toughness, I delve into practical strategies for building resilience. These tools can help you manage stress, bounce back from setbacks, and stay focused on your financial journey.

Remember, it’s not about eliminating fear entirely – that’s impossible. But by developing resilience, you can learn to cope with fear and use it as a tool for growth rather than letting it control you.

5) Living beyond your means

I’ll be honest, I used to be a bit of a show-off. I’d spend money on the latest tech gadgets, designer clothes, fancy restaurants – all in an effort to keep up with my friends and colleagues. But as you can guess, this didn’t do wonders for my bank account.

Living beyond your means, especially to impress others, is a surefire way to financial stress. You’re stuck in a cycle of spending and debt that’s hard to break.

So, I made a change. I scaled back my spending, started living within my means and focusing on what truly mattered to me. It wasn’t easy, but it was definitely worth it.

We all have different financial situations and priorities. It’s important to live according to what works for you, not someone else.

After all, true wealth isn’t about the things you own – it’s about financial peace and freedom.

6) Saving too much

Yes, you read that right. While saving money is generally a wise move, there’s such a thing as saving too much. 

If your frugality is causing you to miss out on life experiences or causing you stress and anxiety, it might be time to reassess.

Money is a tool that’s meant to support your life and goals, not something to hoard out of fear.

If you’re constantly worrying about saving every penny and denying yourself things that could genuinely improve your quality of life, is it really worth it?

Striking a balance between saving for the future and enjoying the present is key. It’s about creating a budget that allows for both – enjoying life now while still preparing for later.

This balance can reduce stress and help you get the most out of your money and your life.

7) Not planning for emergencies

Life is unpredictable. Things can and do go wrong – your car breaks down, a sudden medical bill, a job loss. If you don’t have an emergency fund in place, these situations can send your stress levels through the roof.

An emergency fund is essentially a financial safety net. It’s money set aside specifically for unexpected expenses. Having this buffer can give you peace of mind and reduce stress since you know you’re prepared for whatever life throws at you.

So, how much should you save? A good rule of thumb is to aim for three to six months’ worth of living expenses. Start small if you need to, even a little bit saved can make a big difference when an unexpected expense arises.

8) Neglecting your financial education

I remember when I first started learning about finances, it felt like I was trying to learn a foreign language. Terms like “compound interest”, “index funds”, and “tax deductions” were all Greek to me.

But I knew that understanding these concepts was crucial to managing my money effectively and reducing stress.

The truth is, our education system often doesn’t equip us with the financial knowledge we need in adulthood. That means it’s up to us to educate ourselves.

It doesn’t mean you need to become a finance guru, but understanding the basics can go a long way in helping you make informed decisions and feel less stressed about money.

There are plenty of resources out there to help – books, online courses, podcasts, blogs. Take some time each week to learn something new about managing money. Trust me, your future self will thank you for it.

9) Forgetting that money is just a tool

At the end of the day, it’s important to remember that money is just a tool – a means to an end, not the end itself. It’s there to support your life and your goals, not to cause you stress or dictate your happiness.

Yes, managing money can be complex at times. But don’t let it take over your life. 

Don’t let the pursuit of money cloud your judgement or take away from the things that truly matter – your health, relationships, passions, and personal growth.

Keep this perspective in mind as you navigate your financial journey. It can help you make better decisions, reduce stress, and ultimately lead a more fulfilling life.

Final thoughts: It’s all about balance

When it comes to money, balance is key. It’s about finding that sweet spot between saving for the future and enjoying the present, between planning and adapting, between inflow and outflow.

This balance is not always easy to achieve. It requires self-awareness, discipline, and resilience.

But when you do strike that balance, it can significantly reduce your financial stress and improve your overall quality of life.

In my book, The Art of Resilience: A Practical Guide to Developing Mental Toughness, I discuss how resilience plays a crucial role in managing not only our personal finances but all aspects of our lives. It’s about confronting challenges head-on, bouncing back from setbacks, and persisting in the face of adversity.

Money is a tool meant to support you, not a source of constant worry or stress.

So as you move forward on your financial journey, keep these behaviors in mind.

Reflect on them, learn from them, and use them as a guide to create a healthier relationship with your money.

Because at the end of the day, it’s not just about having more money. It’s about having more peace of mind, more freedom, and more opportunities to live the life you’ve always wanted.