Almost all of us have too much stress in our lives! Stress chokes the joy out of life, and derails our emotional health. All of us would be wise to look for as many opportunities as possible to reduce stress.
With that in mind, study after study has indicated that money and money issues are the leading causes of stress.
A study by the American Psychological Association released earlier this year made it clear that money is the leading cause of stress among Americans. According to the study:
- 64% of adults listed money as a major source of stress
- Near 75% of adults had stressed about money in the past month
- About 25% of adults had extreme stress over money in the last month
Possibly more importantly: if you’re married, money and money fights are some of the most common reasons listed for divorce in America.
With that in mind, we need to find ways to reduce stress in regard to money.
I don’t have any sophisticated financial advice for you, but I do have some advice which can reduce stress.
When you purchase things using credit, debt, or payment plans, you stick your future self with a bill. In the moment, it’s fun to get something new, but debt leaves you with an on-going weight to carry. The uncertainty of your future financial situation creates a lingering stress. Each new debt is more stress.
On the flip side, saving money is like giving your future self a gift. Instead of worrying about whether you WILL have the money to PAY a DEBT, saving leaves you with safety net if something does come up.
- Debt is giving your future self a bill!
- Saving is giving your future self a gift!
- Debt sets you up to HAVE future stress!
- Savings set you up to RESOLVE future stress!
The strange thing about this simple advice is that it actually has to be stated in our culture. Our society has bought into a lie sold to them by people who profit form their foolish financial decisions. Getting a credit score and your first car payments are almost rites of passage. However, living off of credit without the discipline of a budget is dangerous and sets oneself up for serious trouble in the future.
Don’t spend money you don’t have!
Make choices today that future you will be grateful for!
If you want further evidence, watch this both hilarious and insightful clip from Saturday Night Live.