Category: 
January 23, 2009
With the advent of a new president and hopefully optimism in the economy following on the heels of the inauguration, we all have better times to look forward to. Although in stressful financial times, the media likes to remind us of other worrying times in our history there are things we can each do to help ourselves deal with the situation better.
Here are nine ideas to help you cope better with your financial stress in the hopes that this recession will be a soon forgotten memory for you.
1) TURN OFF AND TUNE OUT
We tend to stare at the ten o’clock news, striving to be well informed, as if knowledge of the latest disasters will enhance our sense of well-being.
Why do you need to watch or listen to the news? Very few people NEED to get information this way. Short of a tornado headed to your house, you can live your life quite nicely without the news. Try it for a week and see what happens.
2) IT WILL NOT LAST FOREVER
One of my favorite authors, Og Mandino is his book “The Greatest Salesman in the World” gave four words that “have been passed down from the ancients that will carry me through every adversity and maintain my life in balance. These four words are: This too shall pass.”
He is right. It WILL pass and five or ten years from today we’ll be reading about this in the paper and
we’ll think…”Oh yeah, I remember that”. It will make a great story to tell your kids or grandkids.
As the old saying goes: the only difference between tragedy and comedy is time.
3) ZIP IT!
Quit talking about the economy to everyone you meet. Pity parties help no one on any subject so keep the complaining to a minimum. Do not hang around people who insist on wallowing in all the negativity.
It is not that you should not think about the economic crisis but think about it only to the extent that you can control it. Put your money places where you are comfortable, deal with it and move forward. As I said in my July 9th post: KEEP CALM and CARRY ON!
4) LAUGH!
Since 1922, Reader’s Digest has been telling us that laughter is the best medicine. Take daily laugh breaks.
It is so easy with the internet. Go to www.Youtube.com and search for “game show bloopers” and you will be
laughing AND feeling smarter in seconds.
You can find Saturday Night Live and Mad TV clips all over the internet. Many cartoons, full-length movies
and sitcoms can be viewed in their entirety online.
5) FACE YOUR FINANCES
They will not get better by ignoring them. They will not go away. Your credit score might be hurt if you cannot pay your bills or you get behind, but you will not go to debtor’s prison.
It is no fun jumping every time the phone rings for fear it is a creditor. If you need help in the U.S.,
visit www.NFCC.org the National Foundation for Credit Counseling. Do not deal with any organization that promises to help you with your finances for a percentage or a large up front fee.
If you can pay all your debts on time now, work on a plan to get your highest interest debt paid off first.
6) KEEP TRACK
Be brutal in tracking your spending and income. By brutal, I mean keep track of every penny. We all have
a problem with “mental accounting.” We do not look at ‘just’ a dollar as real money and thus would likely not even consider tracking expenses that small. A dollar a day over a year is $365. It really does add up.
Keeping track of each and every dollar can be an eye-opening experience. You will often discover unnecessary waste that is easy to fix.
7) GO FOR A ONE MINUTE WALK EVERY DAY
It has been proven that those who regularly exercise have lower stress levels than those who do not.
Our brain is wired to set off alarm bells whenever we want to make a departure from our usual, safe routines. Any new challenge, opportunity or desire triggers some degree of fear. Take VERY small steps so as not to wake up that fear.
So for example, start by marching in place, in front of the TV for one minute a day. Just one minute. Eventually march for 3 minute commercial breaks and then for whole shows. Soon the ridiculously small actions will grow into the firm habit of running one mile each day. Note that this gradual buildup to a steady program is the exact opposite of the usual pattern, in which a person starts with a burst of activity for a few weeks, but then returns to a comfortable spot on the couch
START ANOTHER INCOME STREAM
People who work 9-5 and do nothing else to earn money have always perplexed me. They get up every day, shower, drive to work, work, drive home, do whatever they do at home, go to bed and start it over again every day for 40 years. At home, they worry about job security, promotions, raises, benefits and the like but they do little if anything to ensure their own future, content to rely on an employer who may or may not be around
in 5 years.
Spend some of your worry time researching ways to make extra money. Any bookstore or library will
have many books on the subject. Get your children involved. Make it a partnership. What an incredible gift to give your children. The gift of independence.
Yes, there may be laws and rules and regulations you need to follow but do not let those stop you. They are
many resources available to help.
Start at the small business administration. www.SBA.gov and also check out SCORE at www.score.org
9) LOOK for FOUND MONEY!
Every state has an office that handles what are known as ‘Unclaimed Funds” or “Unclaimed Property”. Unclaimed funds are forgotten bank deposits, tax refunds, and security deposits from landlords and utility companies to name a few. Most amounts are very small but it is still fun to search. You can search the databases online. Most will not tell you how much is owed but some will give you a range. Search for your name and the names of all your friends and relatives in whatever states they live.
When you find some money that is owed, point your friend or relative to the appropriate website and collect the
gratitude (and hopefully a finder’s fee!) You may feel like Santa at Christmas handing out wads of cash.
The site to begin your search is: http://www.FindLostMoneyHere.com
Here are nine ideas for you to try. None of them are hard and some you my find fun. Turn off the TV and the radios…ignore the natterings of negativity and live a less stressful and more peaceful life.
1 person has left a comment
Hey ReAnn,
I just wanted to tell you that, following the link you provided in this post, I discovered $155 in unclaimed funds from my grandfather’s estate. (He died in 1991.) They’re going to send me a check. It’s not much, but it will pay my electric bill for a month.
Thank you!