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Stress and Money Stress and Money Go Hand in Hand Go Hand in Hand
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Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Dec 29, 2015

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Page 1: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Stress and MoneyStress and Money

Go Hand in HandGo Hand in Hand

Page 2: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Symptoms of Anxiety Symptoms of Anxiety because of Moneybecause of Money

The physical symptoms of anxiety The physical symptoms of anxiety are c aused by the brain sending are c aused by the brain sending messages to parts of the body to messages to parts of the body to prepare for the "fight or flight" prepare for the "fight or flight" response. The heart, lungs and other response. The heart, lungs and other parts of the body work faster. The parts of the body work faster. The brain also releases stress hormones, brain also releases stress hormones, including adrenaline. The following including adrenaline. The following symptoms can occur as a result:symptoms can occur as a result:

Page 3: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Physical SymptomsPhysical Symptoms

• • abdominal discomfortabdominal discomfort • • diarrheadiarrhea • • dry mouthdry mouth • • rapid heartbeat or palpitationsrapid heartbeat or palpitations • • tightness or pain in chesttightness or pain in chest • • shortness of breathshortness of breath • • dizzinessdizziness • • frequent urinationfrequent urination • • difficulty swallowingdifficulty swallowing

Page 4: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Psychological SymptomsPsychological Symptoms

• • insomniainsomnia • • irritability or angerirritability or anger • • inability to concentrateinability to concentrate • • fear of madnessfear of madness • • feeling unreal and not in control of feeling unreal and not in control of

your actions (depersonalization)your actions (depersonalization)

Page 5: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

What is Your Money What is Your Money Personality?Personality?

SpendersSpenders HoardersHoarders AvoidersAvoiders AmassersAmassers Money MonksMoney Monks

Page 6: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

SpendersSpenders

Spenders have a hard time delaying Spenders have a hard time delaying gratification and can always think of gratification and can always think of something to spend their money on right something to spend their money on right now. now.

Page 7: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

HoardersHoarders

Hoarders love to hold on to money, enjoy Hoarders love to hold on to money, enjoy checking account balances, and feel checking account balances, and feel uncomfortable spending money on uncomfortable spending money on immediate pleasures. immediate pleasures.

Page 8: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

AvoidersAvoiders

Avoiders tend to live in a financial fog, Avoiders tend to live in a financial fog, procrastinating or avoiding money procrastinating or avoiding money maintenance chores such as checkbook maintenance chores such as checkbook balancing, bill paying, saving or keeping balancing, bill paying, saving or keeping track of income and debts.track of income and debts.

Page 9: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

AmassersAmassers

Amassers spend a great deal of time Amassers spend a great deal of time trying to accumulate large amounts of trying to accumulate large amounts of money to spend, save and invest. Their money to spend, save and invest. Their main goal is making money grow.main goal is making money grow.

Page 10: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Money MonksMoney Monks

Money monks think that too much money Money monks think that too much money will corrupt them politically or spiritually will corrupt them politically or spiritually and feel superior to those who focus their and feel superior to those who focus their attention on earning or amassing a lot of it.attention on earning or amassing a lot of it.

Page 11: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Credit CardsCredit Cards

Handle With CareHandle With CareCredit cards bring freedom and flexibility when you’re away at college, but they can quickly become a trap for the unwary. Credit card offers made to college students are inviting, but should carefully scrutinized.

Page 12: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

TipsTips

Choose the right one - Choose the right one - Shop around for the lowest interest Shop around for the lowest interest

rates on credit cards and read the fine print on any offer before signing up. rates on credit cards and read the fine print on any offer before signing up. Be wary of cards with low introductory rates that jump up after a set period. Be wary of cards with low introductory rates that jump up after a set period. Skip cards with annual fees.Skip cards with annual fees.

Have monthly limit - Have monthly limit - Charge only as much as you can Charge only as much as you can afford to pay every month.afford to pay every month.

Avoid unnecessary chargesAvoid unnecessary charges- Impulse chargesImpulse charges- Meals in restaurantsMeals in restaurants- GiftsGifts

Page 13: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Set GoalsSet Goals

If you can be realistic about your financial If you can be realistic about your financial goals and priorities, you have a much goals and priorities, you have a much greater chance of achieving them.greater chance of achieving them.

Write down your goal.Write down your goal. Put a price tag on it and the date you wish Put a price tag on it and the date you wish

to reach it.to reach it. Divide and Conquer. Take the total dollar Divide and Conquer. Take the total dollar

amount needed and divide by the number amount needed and divide by the number of weeks/paychecks until the target date.of weeks/paychecks until the target date.

Page 14: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Know Your Cash & Where Its Know Your Cash & Where Its GoingGoing

Spending PlanSpending Plan Evaluate ExpensesEvaluate Expenses Include Spending for FunInclude Spending for Fun

Page 15: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Spending PlanSpending Plan

Having a spending plan is crucial to Having a spending plan is crucial to managing your day-to-day finances at managing your day-to-day finances at school. Getting a handle on your cash school. Getting a handle on your cash flow is an important part of developing a flow is an important part of developing a spending plan because it is difficult to spending plan because it is difficult to “plug the leaks” if you don’t know where “plug the leaks” if you don’t know where your money goes.your money goes.

Page 16: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Evaluate ExpensesEvaluate Expenses

A cash flow statement does not have to be A cash flow statement does not have to be elaborate. To get started, keep careful elaborate. To get started, keep careful track of your expenses during a typical track of your expenses during a typical day, week or month, then evaluate which day, week or month, then evaluate which expenses mean a lot and which could be expenses mean a lot and which could be cut without significant impact on your life.cut without significant impact on your life.

Page 17: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Money for FunMoney for Fun

Include a reasonable amount for fun, too, Include a reasonable amount for fun, too, such as a present for a friend’s birthday or such as a present for a friend’s birthday or dinner out with friends.dinner out with friends.

Page 18: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Know What You’ve Got Know What You’ve Got Covered (By Insurance)Covered (By Insurance)

Check whether you are still covered under your Check whether you are still covered under your family homeowners or auto policiesfamily homeowners or auto policies

Don’t buy more insurance than you need, and Don’t buy more insurance than you need, and don’t go for the small deductibledon’t go for the small deductible

You can probably skip some types of insurance, You can probably skip some types of insurance, such as extended warranty, credit life, daily such as extended warranty, credit life, daily hospitalization, collision damage waiver (CDW) hospitalization, collision damage waiver (CDW) on auto rentals, and flight insuranceon auto rentals, and flight insurance

Page 19: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Ask yourself the question, "What do I expect my total level of assets or income to be over the academic year. Add up sources that come from your work, your financial aid package and gifts from family and or friends.

Determine what your expenses will be over the year. You will need to budget for tuition, room and board, and a variety or miscellaneous expenses

Page 20: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Differentiate between what you want and what you truly need. It is easy to confuse the two. How many pairs of jeans do you really need? How many sweaters? How many CD's? Many individuals can develop significant cost savings by focusing on their needs and spending only a small amount on things they want but don't have to have. Be careful of sales - half off a $200 item means you still spend $100.

Remember time is money. The more things that you buy that you truly don't need may require you to spend more time earning money to pay for those things. Ask yourself why you are in college and what you hope to do with your college experience. By buying less you may have more time to study, consequently getting better grades and learning more so that you can get a better job. Realize that most college students are working for between five and ten dollars an hour. And that most college graduates are working for between fifteen and twenty-five dollars an hour. The simple math will tell you to study now. Earn more and you can spend more later on.

Page 21: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Be extremely careful with credit cards. This again is an area to distinguish between wants and needs. There was a time when people actually lived without credit cards and did quite well. Being able to defer gratification is an extremely important aspect in money management. Do not buy on impulse. Consider putting your credit card in places where you have to literally retrieve it to take it with you. Some individuals will wrap their credit card so that it has to be unwrapped before it can be used, even when they are carrying it. This gives you time to think about whether you really want to use the card for a purchase. Whenever possible, pay the balance immediately. A bad credit rating will come to haunt you in many ways.

Page 22: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

BoozingBoozing Keep track of how much you spend for items such as alcohol,

tobacco products, CD's and other items that you basically purchase for pleasure and enjoyment. These items can add up very quickly. Think about what you would do if you could cut your expenses in these areas. Remember that we have access to so much in our culture. Perhaps listening to music, a radio or stereo can replace purchasing CD's and save you hundreds of dollars in a year. If you are a smoker it may be a good time to stop and utilize that money elsewhere. Intoxication or frequent drinking does not correlate well with good grades in college. Drinking responsibly and reasonably not only helps you be a better student, but can help pad your pocket book as well.

Page 23: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Financial PlanningFinancial Planning

Business DebtlineBusiness Debtline Free, confidential and advice for self Free, confidential and advice for self

employed peopleemployed people Gives a step by step guide to tackling a Gives a step by step guide to tackling a

multiple debt situationmultiple debt situation Free Phone NumberFree Phone Number

1 800 197 60261 800 197 6026

Page 24: Stress and Money Go Hand in Hand. Symptoms of Anxiety because of Money The physical symptoms of anxiety are c aused by the brain sending messages to parts.

Credit Card IssuesCredit Card Issues

Checkmylife.comCheckmylife.com Gives online access to your public credit fileGives online access to your public credit file Gives online vehicle checkGives online vehicle check

Care LeaversCare Leavers Website that gives advice on managing moneyWebsite that gives advice on managing money Also gives money managing tips for college studentsAlso gives money managing tips for college students