10 Ways to Deal with Money Stress

Get 10 tips to deal with money stress so you create a more peaceful life.

Laura Adams, MBA
6-minute read
Episode #211

What Causes Financial Stress?

As a Financial Life Coach, I typically work with clients who have some amount of anxiety about what’s going on with their money. I help them identify exactly what the problem is so we can pinpoint the most effective solutions. That’s the first step—to really understand where your stress comes from. When you strip down the issues, there are four fundamental reasons why people get stressed about their finances:

Money Stress #1: Drowning

The first common stressor is when your living expenses exceed your income and you can’t keep your head above water—that’s what I call drowning. I’m sure you can guess what happens when you consistently spend more than you make. You begin to finance your expenses using some form of debt, like a credit card, a loan, or a home equity line of credit. Or you might tap into your savings or retirement funds to pay your bills.

Money Stress #2: Barely Surviving

A second reason for stress may come when you’re surviving financially, but feel like you’re just treading water. That can happen when you’re able to pay all of your bills, but are still living paycheck to paycheck. When you can’t seem to get ahead of your expenses and accumulate emergency savings or build wealth for the future, it can cause worry and financial stress.

Money Stress #3: Owing

A third stress for some people is owing money—even if you’re meeting your expenses and diligently saving for the future. Having any amount of indebtedness can be a stressor if it causes you to feel trapped or tobelieve you’re wasting resources paying interest to a lender.


About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.