Money is more than just figures in a bank account or notes in a wallet its our lifeline to everything It gives us all the essential resources we need to survive in addition to giving us opportunities to move forward in life Social events cost money entertainment that relieves stress costs money and not having enough can lead to clinical depression and anxiety disorders
Insomnia is perhaps the most obvious and difficult symptom of chronic stress when you cant sleep the entire day becomes an uphill battle The more you try to fall asleep the harder it becomes and the cycle repeats endlessly How do you break through the barrier and get some rest as well as peace of mind A two fold approach that addresses your stress and insomnia as well as your very real financial struggles is best You can learn to sleep better and let go of stress while tackling the money problems strategically
Getting Your Finances in Order
Its easy for anyone in a good financial situation to offer well intentioned but often misplaced advice If getting out of debt was as easy as simply saving more millions of Americans wouldnt be struggling to make ends meet From student debt to medical bills there are plenty of reasons why someone can quickly become encumbered with debt that causes immense stress
How do you begin to work through the labyrinth It has to begin with priorities You know there are certain things you cant afford not to pay each month eg housing and food The biggest problem arises when your debt is also non negotiable and causes your essentials to compete with one another
Your budget only goes so far even if you happen to be earning a decent salary When debt gets thrown into the picture it can become a crippling barrier that prevents you from ever growing beyond a certain point This stagnation can naturally lead to increased stress levels throughout the day which in turn make it harder to sleep at night Whether its falling asleep or just not feeling refreshed money problems cost you quality sleep
Tips for Relieving Financial Stress
The best thing you can do is confront your problems head on Avoidance is a common and understandable response to stress but it actually has the opposite effect When you have a problem your brain uses stress as a source of motivation to help you resolve it When you avoid it instead you tell your brain that this problem is much bigger than anticipated and poses a threat This threat causes anxiety which only leads to more stress Every time you even think about opening your bank account or calling a lender youll likely feel worse
Choose a time to sit down and dedicate at least 30 minutes to writing down your new financial priorities What are your greatest debts List them in order and include the exact amount you owe at the present time You need a birds eye view to understand exactly what your finances are going to look like in the coming months you cant pay off an invisible debt that just keeps getting bigger
Find Simple Ways to Scale Down Your Living Expenses
How could you save money on groceries Would buying in bulk help Could you cut back on brand names and eat generic brands Your life wont end if you cancel your Netflix subscription to save for a few months and it could help you get off the screen and explore more active hobbies as well Finding a silver lining to necessary cutbacks can help you scale down without feeling constricted its also helpful to remind yourself that nothing you have to get rid of for now is permanent When your debts are paid off youll be able to rebuild
Look into Financial Relief
Free credit counselors can help you address credit card debt from a professional standpoint They can also help you build good money management skills negotiate with collectors and give you greater confidence in your ability to pay off what you owe You can also think about how to combine your debts and make them more manageable one option is taking out a loan with a private lender to cover your outstanding balances This gives you complete control over how the money is distributed what its put toward and how you pay it off
You should also reach out directly to your lenderscreditors and discuss your current situation If your current payment arrangement isnt working for you ask if there is any way to make changes You can sometimes defer payments due to financial hardship but make sure this is something you can afford to do after considering any interest youll accrue over that time The best bet is generally seeking to combine and reduce monthly costs as much as possible without prolonging any payment periods Although it can be useful in some cases deferment isnt recommended if it will only cause you to fall further behind Also some emergency cash providers do not perform credit checks and you can turn to them if the need arises
Start Treating Your Insomnia
You dont need to pretend you dont have any stress or make it disappear completely Instead try to address your stress from a place of acceptance Label the thoughts and feelings and take a step back to say to yourself Im feeling really overwhelmed right now At night write down a list of your biggest causes of anxiety before bed This can help you avoid feeling like you have to figure them out rather than sleeping You should also avoid doing anything that worsens your stress before bed like checking your bank account on your phone
Build a Toolkit
Therapy might be helpful but it is also expensive To help yourself consider some of the following free resources
Stress Management Resources by HelpGuide
How to Cope with Financial Stress by VerywellMind
Coping with Medical Problems by the University of Maryland
Finding resources can give you a greater sense of control Activism is one of the best ways to combat anxiety Once you get some momentum going youll be surprised at how much more motivated you feel to keep going Even if it takes time to pay off your debts taking action and creating a sense of direction can help improve your sleep quality
Take some steps to set yourself up for healthy productivity then relax and enjoy the sleep you need
Alaska Sleep Clinic is the most comprehensive sleep clinic in the state Call us today 907 357 6700 to get your free sleep assessment
