How To Improve Your Financial Health

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Financial health
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How to improve your financial health

Having healthy finances will set you up for life and protect you in your later years. Being able to manage your finances well is a great skill to have and something which if you learn early on in life will mean you have less stress and more enjoyment throughout your days.

It’s so easy for people to lose control of their spending and to plunge into debt that seems impossible to get out of (see for help with debt and budgeting). The trick is to try to plan accordingly and work around any potential issues you may have with money before they become real problems that impact your daily life – easier said than done, right? Here we are going to delve into how to improve your financial health…

Reduce your outgoings

Reducing your expenses is easier than you think and there are several ways that you can do it.

Firstly, spend less than you earn. It sounds obvious, but many people do not adhere to it and instead make the mistake of living beyond their means each month.

Also, if there are any bills that you can negotiate a lower rate for then you can speak to the utility companies or product providers and ask for a more basic package or move to a different one who can offer a cheaper deal.

You should also consider the rule of ‘need versus want’. If you want to get serious and make your money work harder for you, then you should focus on what you need to spend money on and what you can do without.

Put some money away for a rainy day

However, putting it away in a savings account also means that it is insured in the event of an unfortunate event such as a fire or flood. So, if you are saving for anything in particular whether it is a wedding or holiday, or for retirement, you need to ensure this money is not at risk.

Learning how to save money and put it aside for when you need it is crucial to any personal finance plan. You are less likely to spend it if you put it away in a savings account, meaning that it is protected for your future.

We all have goals in mind for our finances, but before we know it, another month has passed and we have not done anything about them. Instead, we are likely to have spent our salary yet again and not have done anything about our long term goals.

Therefore, the sooner we write down these goals and create an action plan to take steps towards them, the more likely we are to achieve them.

Set financial goals

To start, it could just be what you want to achieve in the next year or be towards something tangible such as buying a house or car. Then, later on, you might want to look at long term goals such as creating a pension fund or a college fund for your kids.

These tips should set you up for better financial health both in the short term and long term so that if you apply them sooner rather than later, you can start benefitting from them straight away.

*This is a collaborative post

Improve Finances And Reduce Stress Using Technology

Want to improve finances and reduce stress using technology? I love technology and always welcome anything that reduces stress and helps improve finances due to my own mental health. Here is some advice* to improve finances and reduce stress levels using technology.

Improve Finances Using Technology


Use Technology To Reduce Stress And Improve Finances

A recent study has revealed that 14 million people worry about their finances every day. A shocking statistic which rings true for many. Mental health concerns affect many Brits. Whilst you shouldn’t pin everything on how much money you have or haven’t got, it’s difficult not to get stressed about money when the cost of living continues to rise. However, there is good news for the millions of stressed Brits worried about their finances. The key to taking control of your money is to reduce your stress levels. Technology is a great tool to help alleviate stress and there are such great mental health apps available to help you achieve just that.

Utilising technology

Wherever you turn, you’ll find yourself surrounded by some form of technology. Your home is probably full of gadgets such as smartphones, tablets, voice-activated home assistants and game consoles. Whilst over-use and over-exposure to technology has been linked to stress, there are ways in which you can effectively use technology to boost your mental health and reduce your stress levels to allow you to make smart financial decisions.

When stressed, individuals often make poor financial choices, such as purchasing high priced goods to make themselves feel better, only to instantly regret it when the item arrives, thus increasing stress. However, technology can be utilised in these times. If you’re staring at your online bank account and are worried about the balance, ask your voice-activated home assistant to play some calming music, such as whale music which is known to reduce stress levels.

Reading technology

Reading has been proven to reduce stress levels. Before you make any spur of the moment purchases, grab your electronic reading device and lower your stress levels. You can reduce your stress levels by as much as 68% by taking time out and enjoying a couple of chapters of a good book. Just six minutes of reading can make you feel calmer and more relaxed. Be sure to carry reading material with you wherever you go.

Debt and technology

Gadgets allow individuals to check their bank balance wherever they are and at any time of the day. This can be both a blessing and a curse. Students are often knee deep in debt which can cause them much stress. If you’re a student looking to consolidate your student loan, be sure to use organisational software first to get everything in order. That way you can review your finances with a clear, stress-free head.

Stress is a factor which people across the UK and around the world contend with every day. We face a lot of stress especially when it comes to sorting out finances. However, technology is a great tool to use to stay calm, reduce stress levels and stay on top of your finances.

Do you think you could Improve Finances And Reduce Stress Using Technology to?

*In collaboration with Chrissy Gladstone.