Money and stress

For many people, the greatest source of stress is money – or, rather, a lack of enough money to pay all the bills owed. \nIn my private counseling office I see many people with financial problems: individuals, couples and families who tend to spend more than they make. I see serious arguments between couples on spending habits, which are often a result of family values. I see severe stress caused by an inability to pay off debt, often as a result of high-interest credit-card rates.\nThis is usually a result of not understanding the difference between wants and needs. Many of us want a great deal of goods but actually require much less to be happy. We all need to pay basic expenses including food, utilities, house payments, insurance, car expenses, clothing, taxes, etc. Beyond the essentials, many people spend on extras such as fancy cars, boats, home improvements and expensive vacations.\nIt is difficult to be in control of life when money worries are causing stress. It is very important to reduce financial worries by taking measures to be in control of your money. Start out by listing all your various bills on a monthly basis and balance those against your monthly income. This will give you a clear idea of what you have and what you need. Keeping a realistic budget can solve many financial problems.\nWhen your various bills are out of balance with your monthly income, seek help. The best help is often through consumer credit counseling agencies. These are nonprofit agencies that give free or low-cost advice on how to manage your money. The best place to find which agencies provide these services is by looking through your local telephone book.\nOften your bank, credit union or employee assistance program can provide financial counseling. Other agencies can refer you for financial counseling that is either free or has a low cost. The community services in the phone book list such agencies. A good local Indiana source of help is the Momentive Consumer Credit Counseling Service. The Bloomington office can be reached at 333-6083.\nWhen you take action toward resolving money problems, the action itself provides relief. Stress reduction techniques that were discussed in previous weeks such as deep breathing, regular exercise, eating a healthy diet or reaching out to family and friends can help reduce financial stress.\nRemember: A body in good physical and mental condition can handle a financial problem better as well.