Financial Wellness and Stress
Many of us in this current economy have come to realize just how stressful money troubles can be. There are however some tips and actions that can reduce that stress. Firstly, get educated and get on top of where you are and where you want to be financially. After all, the highest number of heart attacks occur on Monday mornings when it is time to get up and go to work. The second-highest number is related to financial or marital stress and more often than not the marital stress is closely related to financial trouble. If you are in a relationship, evolve it into a team where you jettison the blame and work together as a team to make your dreams come true.
One of the best ways to keep your financial life running smoothly is to be on top of your credit and spending situation. If you use credit, use it wisely, keep a budget and spend wisely. Pay off your cards each month or if that is not possible, make your minimum payment plus as much extra as you can on the card with the highest interest rate and preferably make it early or at worst on time. Avoid the balance transfer game if you want your score to stay high and don't close accounts.
Also since scores are all important if you need to buy anything on credit, follow these other suggestions. Correct errors on your credit report, since it will help your score start heading up again. You can get one free from annualcreditreport.com once a year. Also, beware of fake credit scores. To my knowledge, the only truly verifiable and reliable one is one you have to pay for and the only place to get that from is myfico.com. If you ever need to borrow money, know your credit score and what the score lenders expect you to have before applying for credit for that particular product. This will help you avoid inadvertently lowering your credit with inquiries that hurt it.
Some of you might think it is strange for a health-promoting website to talk money and finance, however, it is in the top 3 causes of stress and the bottom line is that stress affects our well-being. So get savvier and get in charge of this area of your life. Your wallet will not regret it and neither will your health.