Whether you have increasing credit card debts, concerns about paying your mortgage or other bills, you are amongst an increasing majority as the economic crisis continues.
Where to start?
I have always been fascinated by money probably because growing up there was little of it. I relished programmes like 'The Bank of Mum and Dad' and Irvin Hall's 'Your Money or Your Life' and was fascinated by the people's spending habits.
I think that focusing on money and showing an interest in things financial is a good starting point.
Financial institutions are starting to get the idea that we want simplicity when it comes to finance and even pensions are set to become more straightforward in the short- to medium-term.
You can now even Google the best savings rates and set up an account online starting with as little as £1 - though you can set your goal at a level you can afford each month.
What about spending?
Well, online often is a good place to start and you may already know about MoneySupermarket.com which helps you to get the best deals on most things.
When I purchase anything over the Internet, I always go for free postage and free returns and check there is a telephone number I can call in case something goes wrong as emails can be ignored.
Spending what you do not need when you are down can be addictive so making a list of other things to do such as going for a walk with a friend or your dog or your neighbour's dog would be an example of a good distraction.
You may find it helpful to record what you spend for a month and then set a budget through finding areas where you can reduce spend. This monthly exercise will help you to see more clearly where you can cut back.
Quite recently a client of mine made a list of 'money saving rules' to keep her on track which include things like:
- Order tap instead of bottled water in restaurants
- Don't buy takeaway coffee
- Make a list that you stick to for the supermarket
- Make your own sandwiches for lunch
- Have 1 day a week where you do not touch your purse or wallet at all
In a difficult economic climate we tend to panic and feel out of control which makes it difficult for us to think straight making irrational thinking and mistakes more likely.
When you find it hard to see the wood for the trees do something that calms you down - go for a bike ride, watch a comedy, lie down with your eyes closed or take some extended breaths.
This will help you to calm down, see things more clearly and act in a more effective way.
If you have found any of this blog useful please leave a comment.
We also hope that you will visit our site for all your coaching and counselling needs at West of England Coaching and Counselling.
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