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How to Beat Financial Burnout

Chris Gottschalk

Chris Gottschalk About The Author

Aug 23, 2022 4:45:00 AM

When most people talk about burnout, they’re usually referring to their jobs. However, burnout doesn’t just happen due to job-related stress. Financial burnout is also common.

Let’s face it, managing finances takes time and effort, and if you’re trying to manage money during a time of uncertainty or when money is tight, it’s understandable if you’re worried about your financial future. This can leave a lot of people feeling exhausted or overwhelmed when they even think about their finances.

Fortunately, you can beat financial burnout. Take the following steps to get started.

Get Organized

If you’ve ever been stressed out when faced with a messy room, you know how good it can feel to tidy it up and make sure everything is in its place. The same principle applies to finances—the more organized you are, the more in control you feel and the less stress you’ll have.

The first step to tidying up your finances is to go through your budget and see how you’re faring on your monthly spending. If you realize your budget categories don’t reflect your current financial situation, take some time and adjust your budget. You’ll feel a lot better when you know that you’ve paid for all your necessities and that you’re spending money on goals that are really important to you.

While you’re reviewing your budget, you can also take some time to look over your bills. Make sure you know how much you’re paying for each bill, when the bill is due and just what services each bill covers. This is also a good time to make sure you’re not being billed for any services you’re not using.

Finally, check out your savings accounts to see how much you have put away. If nothing else, this will help you feel reassured that you have some money put aside in case of emergencies. If you don’t have a lot of money put away, though, you can at least use this as an incentive to start saving.

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Automate Payments

Woman automating bill paymentsOne good way to overcome financial burnout is to automate some tasks so they’re not always on your mind. If your online banking platform has electronic bill pay service, you can take advantage of it to automatically pay some of your bills and lower your stress level. Just make sure that you only automate bills for which you pay the same amount month after month, and that you keep enough money in your checking account to cover the cost.

Look at Your Financial Goals

When you take control of your finances, you aren’t just doing it so you can tell your friends you have a balanced budget or a substantial emergency fund. You’re doing it so you can achieve your goals without having to worry about neglecting your necessary expenses.

When you review your goals, remind yourself of why those goals are important to you. Think about what motivates or excites you about these goals. Doing this will help you feel more positive about your finances.

You can also use your goals to prevent you from worrying about your financial future by giving yourself a mantra, writing it down and putting it in a place you’re sure to see it, like the bathroom mirror or your nightstand. This is also a good way to keep that goal in your mind.

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Start Setting Goals

Schedule Time to Relax

So you’ve got your finances in order and you know why you’ve taken the time to maintain your finances. Now all you have to do is give yourself permission to think about something else.

This sounds easy, but it can be difficult to take your mind off something that is stressing you out, especially if you’ve been worrying about money for a while. Give yourself some time to destress in your favorite way, whether it’s taking a walk, watching a show or just listening to some music that you like.

Talk With Someone

One of the worst parts about financial burnout is the feeling that you’re all alone in your struggles. You can take some of the stress off your shoulders simply by talking with someone about how you’re feeling. The other person may or may not be able to give you answers, but sometimes just knowing you’re not alone is enough to stop your financial worry.

Who you turn to is a matter of personal preference, but ideally it should be someone close to you, like a friend or family member. If you feel like you need help, you might want to reach out to professional, like a member experience advisor at First Alliance Credit Union.

Do Something Nice for Yourself

A family on vacationNothing quite helps get rid of financial burnout like spending some money on yourself. Buy something nice for yourself, whether it’s something you’ve always wanted or having a fun experience, like laser tag, a ballgame, or spending a day at a spa. You should also try to make sure there’s some money in your budget to do something nice for yourself each month, like going out to eat or watching a movie.

Get Rid of Financial Burnout With First Alliance Credit Union

The stress of managing money, especially during times where prices are rising, can burn anyone out financially. If you feel yourself facing financial burnout, make sure your finances are organized first and foremost, then try to relieve your stress by automating some financial tasks and engaging in some self-care. You can even spend some of the money you’ve been saving on something nice as a reward for all your hard work.

You can also use the tools and services you get when you become a member of First Alliance Credit Union to help overcome your financial burnout. Our online banking platform will give you an easy-to-read overview of all your finances, including credit cards and loan, and the bill payment center will help you organize and keep track of all the bills you need to pay each month. You can even use the tools in our resource center to help you do everything from create your first budget to building up your credit score.

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We do our best to provide helpful information but we cannot guarantee the accuracy or completeness of the information presented in the article, under no circumstance does the information provided constitute legal advice. You are responsible for independently verifying the information if you intend to use it in any way. Additionally, the content is not intended to be reflective of First Alliance Credit Union’s products or services, for accurate and complete details about our product and service information you must speak to an advisor at First Alliance Credit Union.