Money can be a significant source of stress for many New Zealanders.

Research has shown that 70 percent of us worry about money either daily, weekly or monthly.

If you think it’s time to do something about your money stress, and you want to feel more in control, there are a few things you can do.

Spot the signs of stress

Sometimes, money stress can creep up on you, as worries grow little by little over time.

However, if you’ve realised, you’re feeling anxious about your money regularly, irritable when you have to think about it, or even having difficulty sleeping, those are signs that should not be ignored.

Ease the strain

Once you’ve acknowledged you might have an issue, you can act.

You could start by identifying the source of the problem. Do you have more debt than you can cope with? Has your mortgage become a headache? Is your business struggling, affecting your income? Or are you worried about job security?

When you’ve identified the primary source of your financial stress, you can start to get to work on solving it.

Making a budget is often a good way to pull together an overview of where your money is going, and what you might be able to adjust to make your finances work more effectively.

When you’re under stress, it can sometimes be hard to get an objective view. That’s where support can make a real difference. A SHARE adviser can work with you to get a wider picture of your financial plan, whether you’re thinking about your mortgage, wondering about staying on track for retirement or worrying about debt.

Sharing your concerns with family members, if you have not already done so, could help you to work together for a solution.

Don’t keep your worries to yourself. This article from AUT points to research showing that people sometimes hide the truth about their finances from their loved ones. The authors Matevz Raskovic, Smita Singh, and Aaron Gilbert say suffering in silence can lead to feelings of isolation, damage mental health and even break up families. Talking about your worries can be a relief.

Make sure you look after your own needs as you work on improving your financial situation. It can be easy to let regular routines and self-care go when you’re focused, but you’ll be more resilient and able to reach your goals if you don’t neglect your mind and body.

Make a plan

If you feel like you’re stuck treading water, just trying to keep up, you might be missing a clear pathway forward.

Having a strategy can make a big difference when it comes to reducing financial stress.

Even if there is not an immediate solution, knowing that you are taking small steps to improve your situation should bring some peace of mind.

Working out where you need to go, and how you can get there, can help put you back in a position of control.

We’re here to help

A SHARE adviser can work with you to create a manageable financial plan that fits your goals and circumstances.  If you’re ready to act, get in touch with the SHARE team today.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.