Money and StressManaging your money and planning your financial future can cause a great deal of anxiety. Couple that with a full schedule of classes, work, and a social life and you may find yourself in a stressful situation—especially if you are worried about making ends meet each month.
Money can also complicate your relationships with friends and family members. What if your friends want to go out, but you are trying to stick to a budget? How do you handle a roommate who isn’t paying rent on time?
Finances shouldn’t be a taboo subject—it’s no secret that everyone deals with managing money every day. In fact, having open conversations about your money stresses and goals can help when you run into problems with friends and family members who have different views toward money.
Dealing with Financial Stress
The first step is to get an accurate picture of your finances. You may find that you have more money than you think and your anxiety level doesn’t match the facts. Or, you may find that you do indeed have gaps and areas that need improvement. Armed with facts, you can begin crafting a strategy that will put you on a better financial path.
It’s also a good idea to build an emergency fund, if you are able to. Hopefully you will never have to use it, but at least you will be prepared for any large, unexpected expenses that do come up.
You might also consider going to Counseling and Wellness Services. It’s a free service offered to all students on campus, and counseling sessions can help you identify sources of stress. While counselors can’t offer specific financial advice, they can help you effectively manage stress in all areas of your life, including financial stress.