4 Creative Ways to Reduce Financial Stress in Your Family
Following is a guest post from author, Michelle Laurey.
Money can be a sensitive subject, even among your closest friends and family members.
Many families struggle at one time or another. Different events in life may place financial stress on a family which includes having kids, paying taxes, school, cars, and so much more.
Financial insecurity is not just an awful feeling, but it causes stress, which when accumulated, can lead to severe health issues, and even make you more sensitive to pain.
That being said, here are a few creative ways that might help you ease the stress
1. Teach Your Kids the Right Stuff
You don’t need to give your children a detailed course about how to spend money, but it is important you teach them about finances at an early age.
If you are open and honest with your financial situation, kids will learn money doesn’t just grow on trees and requires an effort to obtain. When you hide finances from them, don’t be surprised if they beg you to buy them things you cannot afford.
Involve kids in the family financial situation and tell them the importance of saving and smart spending.
There are fun and creative ways to do that; from separating their allowance to the basic amount and commission they control with completing tasks, to different board games which require players to save and spend money.
It is important to explain to your children that money isn’t a root of all evil, nor a source of happiness. But if your children see you are always talking about money as if it is bad, they may avoid the topic in their adult life. When they learn money isn’t a taboo, and it doesn’t make mommy and daddy fight, they will have a positive attitude towards it.
Teach them that money is simply a tool.
It will help you get through life and do accomplish more, but that is all. Separating emotions from money may bring better management.
2. Save Together for a Common Cause
A great way to minimize the budget battles is to find something the whole family wants to save money for.
It is easier and much more fun to budget and save for something that everyone desires, rather than just what one person wants.
For example, if all of you agree on a family trip, discuss the ways you can save up or earn an extra income needed to fill the budget. Maybe for mom, this means not getting expensive coffee each morning, and for dad, spending an extra hour at work.
Your little ones will look forward to this vacation, and you can involve them in the “saving game”. For example, they can set a small amount of their allowance to contribute to this family goal.
3. Have Some Fun for Free
When finances are the cause of your stress, finding ways to unwind on a budget are beneficial on many fronts.
Families can spend a lot of money on eating out or amusement parks visits in order to have fun. In reality, there are many ways to have fun that won’t put a dent in your wallet.
When it is nice out, going to the park is a great way to get some fresh air and spend quality time with your loved ones. Play catch, walk the dog together and take some time off to relax and de-stress.
Also, cancel any gym membership, and work out at home. Make it fun by including the whole family, like the Burnses did in the movie “Dan in Real Life”.
Another way the whole family can have fun for free is to opt for movies in the park which many cities host during summer or host a movie night at home rather than visiting the movie theater.
4. Unite to Unload Debt
Debt is a large contributor to stress, whether it stems from college or a house payment, and most families have some sort of debt that they are trying to pay off.
The quicker you are able to pay off the debt, the more financially secure you will become.
Couples are often dishonest with each other about how much debt they actually have. It may be difficult to discuss how much debt you acquired and how you are going to pay it back, but it is important to begin handling these matters as one.
Uniting on this will help you set plans for a better future. It will allow you to create concrete steps, get rid of debt faster and enjoy the financial freedom sooner.
A Final Thought
Happy couples talk more about money and by doing so, they instill better habits in their children.
Financial worries won’t go away on their own, but you can relieve them by teaching your kids about money, saving for a common cause, and having fun for free.
Know that you are not alone in the fight for financial stability and you can have a happy family even while you are still struggling with finances.
So, unite as a family, and make financial pressure a long-forgotten problem.
About the Author:
Michelle Laurey is a freelance writer from Madison. She produces stories on finance, entrepreneurship, and productivity. Having a few loans and credit cards debts forced her to become financially literate and reach the financial independence. Outside her keyboard, she enjoys a good book, Italian food and bike rides. Reach out to her on Twitter.
