Financial stress: Get back to the basics

Another topic I cover with my clients is financial health. Many people might not relate this to overall health but your relationship with money can affect many areas of your life. The stress of too much debt, too little income or any financial distress can create unhealthy habits overall. This type of stress can show up in mental and physical symptoms such as depression, anxiety, feelings of shame and embarrassment, trouble sleeping, digestive issues, migraines, high blood pressure. People who are feeling stressed from finances often put their health on hold- they might start cutting costs in things that matter like healthy foods, exercise, sick care such as doctor appointments or health care such as therapy or health coaching. It’s a cycle that only creates downward spirals. I have worked with others and myself on some very tight budgets (Hello moving from South Dakota to the most expensive areas in the country). I know that if you are willing to learn sacrifice and discipline there is much freedom in feeling you have control over finances instead of your finances controlling you. Planning ahead and saving for large expenses coming up can help prevent the stress from the unknown. Start investing for your future as early as possible! Growing up, my dad used to tell me it was this simple “don’t spend more than you earn” and that’s it. I have always kept that in mind when making any purchase - I ask myself if I have the money for this right now and if not then I need to save more or not make that purchase. I have seen the importance of investing in your overall health first and with much experience found inexpensive ways to eat right and exercise and I get to help my clients who deal with financial stress do the same. Years ago, I created my own spreadsheet to help myself budget and track all of my expenses. I spend a few minutes each week updating by checking receipts and banking apps to be sure I track everything. I took some financial classes in college and learned the importance of knowing where all of your money is going, evaluating that and setting a budget for each month. I have many friends and family members who have used Dave Ramsey’s methods for money management and had great success. I definitely recommend his programs if that is something you need or find a financial planner or advisor you trust to work with. I agree with most, but not all of his ideas. If you want to start with creating a simple budget I will link my spreadsheet below! The first tab is a sample of how I use mine (I picked some random even numbers so it’s easy to get the idea). The second tab is blank with preset formulas so you can try it for yourself. If you need guidance, reach out. I have shared this template with friends and family in the past and I hope it can help you too. - CS

sample budget tracking.xlsx

Download XLSX • 29KB