Keeping on top of the credit crunch
With recession now upon us, the associated stress could lead to many people becoming ill. A recent survey by BUPA UK Health Insurance revealed that 50% of female workers and over 30% of males are experiencing heightened stress due to the credit crunch as people begin to feel the pinch.
Stress management consultant Ann McCracken explains how to stay in control of your finances during these increasingly stressful times.
Make a plan
A good idea, suggests Ann, is to make a plan of your outgoings and income; then match this first against what you would like to do and then against what is most feasible. She stresses that “things like planning your meals on a weekly basis can be really useful because it means you tend not to over buy. You just buy what you need.” However, whilst it is vital to stay on top of your finances, equally important is being able to admit when there is a problem.
The tell-tale signs
Ann McCracken suggests that sometimes, “people don’t open letters or they squirrel away things that look like bills if they’re worried about costs" and that behaviour such as this can signal a problem. People might also become irrational, tearful or aggressive if they are struggling financially. As the consequences of concealing stress and carrying the constant burden of concerns and unhealthy emotions can easily translate into illness, it is important to watch our for these signs and take steps to combat stress if and when it arises.
Ann tells New You that, “in the current financial climate, many people are losing their jobs, their homes and money is tight.” Now more than ever it is important to be realistic and accept the situation which presents itself: “some people do experience the guilt and shame even at not being able to carry on in the way they were but.. …its much better to live within your means...knowing that you can go from month to month, than wondering where the next penny is coming from.”
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