This is a guest post from Sincerely Essie. You can also find her on Twitter and Instagram.

In today’s world, financial stress has become an all-too-common experience for many people. With the rising cost of living and the ever-increasing pressure to make ends meet, it’s no wonder that so many of us are feeling overwhelmed by our finances. But the good news is that there are a number of different ways to deal with financial stress, no matter what your situation may be.

One of the most important things to remember, when dealing with financial stress, is that you’re not alone.

Many people are struggling to make ends meet in today’s economy, and it’s perfectly normal to feel overwhelmed or anxious about your financial situation.

However, it’s also important to take action to address your financial stress so that you can move forward with confidence and peace of mind.

Here are some practical tips for managing financial stress:

1. Create a Budget

One of the best ways to manage your finances and reduce stress is to create a budget. A budget is simply a plan for how you will spend your money each month. By setting clear goals for your spending and tracking your expenses, you’ll be able to see where your money is going and make adjustments as needed.

To create a budget, start by listing all of your monthly income sources. Then, make a list of your fixed expenses, such as rent or mortgage payments, utility bills, and insurance premiums.

Next, add up your variable expenses, such as groceries, entertainment, and transportation costs. Finally, subtract your total expenses from your income to see how much money you have left over each month.

If your budget shows that you’re spending more than you’re earning, look for areas where you can cut back on your spending. For example, you might consider eating out less often, cancelling subscription services you don’t use, or finding ways to save on your utilities.

2. Get Professional Help

If you’re struggling with debt or other financial issues, it may be helpful to seek professional help. There are a number of resources available to help you manage your finances and reduce stress, including credit counsellors, financial planners, and debt management programs.

A credit counsellor can work with you to create a personalised plan for managing your debt and improving your credit score.

A financial planner can help you set long-term financial goals and create a plan for achieving them. And a debt management program can help you consolidate your debt and make a plan for paying it off over time.

If you’re not sure where to start, consider reaching out to a non profit financial counselling organisation in your community. These organisations can provide free or low-cost assistance to help you get back on track financially.

3. Prioritise Self Care

It’s easy to get so caught up in our financial problems that we neglect our own self care. But taking care of yourself is essential to managing stress and staying healthy, both physically and mentally.

Make sure to prioritise activities that help you relax and recharge, such as exercise, meditation, or spending time with loved ones. It’s also important to get plenty of sleep and eat a healthy diet, as these factors can have a major impact on your mood and overall well-being.

Managing your finances efficiently can also significantly reduce stress. Consider using modern financial tools with automated payment systems like CHAPS Payment to expedite your financial transactions. Reducing the hassle associated with traditional payment methods can lead to better financial stability and peace of mind.

4. Look for Ways to Increase Your Income

If you’re struggling to make ends meet, it may be helpful to look for ways to increase your income. This could involve taking on a side hustle or freelance work, asking for a raise at your current job, or looking for a higher-paying job elsewhere.

While increasing your income isn’t always easy, it can be a great way to relieve financial stress and improve your overall financial outlook. Consider brainstorming ideas for how you can monetise your skills and interests, and don’t be afraid to think outside the box.

5. Practice Gratitude

Finally, one of the most powerful ways to reduce financial stress is to practice gratitude. While it may be tempting to focus on all of the things you don’t have, taking time to appreciate what you do have can help shift your perspective and reduce feelings of anxiety and stress.

Consider starting a gratitude journal, where you write down three things you’re grateful for each day. Or make a conscious effort to express gratitude to others, whether it’s through a thank-you note or simply telling someone you appreciate them.

The bottom line

While financial stress can be overwhelming, remember that there are always steps you can take to manage your situation and improve your outlook. By creating a budget, seeking professional help, prioritising self care, looking for ways to increase your income, and practicing gratitude, you can take control of your finances and reduce stress in your life.

How are you finding ways to cope with the cost of living crisis and take care of your mental health?


  1. This is a helpful post by Essie with tips on managing financial stress! Creating a budget is a must, but that’s also a great idea to prioritize self care and practice gratitude.

  2. A lot of us can relate to this post and your insights and tips were incredibly valuable. Your suggestions, such as creating a budget and exploring alternative income sources, are really practical and simple to follow.

  3. Budgeting has really help my husband and I create a plan that works best for us. We weren’t struggling that much before, but our finances were all over the place. Now we know what we’re spending, when and how to manage things if we overspend.

    1. Yes I can relate to that feeling of finances being all over the place. That’s something I struggle a bit with as well, even though I’m not “struggling”, I still have incomings and outgoings all over the shop!

  4. The constant increase in living costs makes life feel a little less fun. It’s hard to find that balance. Thank you for the post

    1. This is a relevant post, crisis has hit and has affected so many. One great thing here that I personally have forgotten about, is the appreciation of what I have got, and I the ability to do overtime at work if I can. Thank you for sharing these tips x

  5. These are some really constructive things to help improve your financial situation. Side hustle has of course been really helpful. Thank you for sharing these suggestions.


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.