Photo Courtesy of theblueaegean
I have this real detachment from money. Frankly, I figure – sure, it’s a nice thing to have, and it can certainly buy me some of the things that I really really want, but at the end of the day, I’m not too concerned about it. I don’t stress about it. I don’t know why, it’s just me (ever the optimist, certainly not the one with a bank load though) 
But I know that lots of people do stress about it and that got me thinking about things that can be done to minimize the worry that people feel about their finances, and the enslavement money can sometimes breed in their lives. Here are ideas that will inshaAllah help to reduce money stresses:
Trust that Allah SWT will provide. And that if HE didn’t, you’d be dead.
Get out of debt. This one isn’t easy, although a monetary windfall might make it so. I don’t know, maybe you kept a very precious comic book collection or can find a stash of money hidden in your attic. But often, these types of things aren’t something you can depend on.
Debt is a very real thing, that requires a very real action plan to get rid of. How much can you put aside each month so that you can pay it off? You’ll need to tighten your belt – look at things you can do without, areas you can cut back on. However, knowing that there will be a time with an end in sight can help you get through it – and feel good that you are freeing yourself. You’ll have a plan, and so you won’t need to constantly worry about debt because you’ll know that you are doing what you need to do in order to free yourself from it.
Pay your bills as soon as you get them. This is one of the simplest ways to eliminate stress about money. It’s a habit my husband and I have fostered from the beginning - where at the beginning of each month, the rent is paid, the bills are paid, and the rest of the month is free from worry. If there’s extra cash left over at the end, that can go to the “saving jar” you have. And this leads to the necessity of having the ability to:
Discuss money with your mate. Money can be a huge stressor on a family. She spends, he hates it. He’s too cheap, she hates it. Or totally vice versa. I have deep thoughts on this one – but I won’t get into them here (working on it for the next book inshaAllah ), suffice it to say that the adults should be on the same page, money should not divide you. Experts recommend that you need to talk about your financial dreams and goals, your spending patterns, your budget, your income, your savings, debt, financial security, bills, even what attitudes about money you want to impart on your children. When there is clarity on this issue, everyone is operating from a place of “we are a unit” and cooperation – and therefore less stress is the end game.
), suffice it to say that the adults should be on the same page, money should not divide you. Experts recommend that you need to talk about your financial dreams and goals, your spending patterns, your budget, your income, your savings, debt, financial security, bills, even what attitudes about money you want to impart on your children. When there is clarity on this issue, everyone is operating from a place of “we are a unit” and cooperation – and therefore less stress is the end game.Develop a financial security net. This is the “rainy day fund” that advisors talk about. Knowing that you have a few months worth of living expenses saved up is indeed putting your mind at ease. You won’t worry about “what if I lose my job or the hurricane season destroys my basement and I won’t have enough to pay for it.” And this can go a long way in making sure that you aren’t fretting over your finances. Now, how much should you have in said security net? Experts recommend 3-6 months worth of living expenses.
Review your finances on a regular basis. I always thought that “balancing the check-book” was for old ladies on a social security government payout. But, life happens, responsibilities towards dependents and bills and …etc., etc., etc… happens. And I hate numbers just as much as Barbie does. But looking at your statements, reading the progress towards your financial goals, and figuring out where you’re lacking and need to improve, is giving yourself a clear picture – and a necessary one. If you don’t do it – you’ll falter. Period. It’s like someone who needs to lose 100 pounds, resolves to start a diet, but never steps on the scale. The anguish would kill and thoughts of “how much have I lost so far” would loop around the brain without resolution. You need to review your finances in order to kill the financial worries that loop around in your mind too.
What strategies have you adopted in order to ease your financial stressors?
