Keys To Wealth And Success- How to Handle Financial Pressure

Learning How To Handle Financial Pressure

Money isn't everything, but it sure does help you live a comfortable life and buy you time and freedom to spend on your relationships, which is everything.

It doesn't matter how much money you make, if you don't know how to handle financial pressure, you are going to constantly living paycheck to paycheck, just like everyone else out there who has a job and is a month or two away from homelessness.

You see, the more money you make, the more money you spend. It is like it burns a hole in your pocket and has to be spent. When you get a pay raise, you automatically raise your  standard of living and start buying new homes, new cars and new toys that you don't really need.

It is true that Americans on average spend 110% of the money they make every month, which drives them deeper and deeper into debt until something gives and they go broke. We all realize this too well right now in the struggling economy and each and every one of us know someone who has lost their job, home or possessions and gone from living a rich life of abundance to a stress filled life of poverty and desperation.

Financial pressure is the number one reason for divorce and could be prevented if there was a simple financial plan in place for the household.

It is a fact that most lottery winners go broke in 5 years from receiving a big payout. Why? Because they never received a financial education to learn how to handle their money and it just gets squandered.

So how do we manage our money. Well, first we have to realize that money is not our master. It is up to us to master our money. Money is not evil, but the love of money is. So we need to stop obsessing over money and realize it is a tool to help us achieve the ultimate goals for our lives.

You get financial freedom through financial planning. Here is a simple plan to follow that will help you get there:

• Take 10% of you monthly income and give it away. - I know this is contrary to what you think you need to do especially if you are struggling, but it is something that needs to be done. In the bible, God commands 10% of your increase for his kingdom and this is your tithe. God says he will bless you abundantly if you are faithful to Him and pay your tithe and offerings. He will bless you with more if your are faithful with a little. Your offering would be over and above your 10% tithe. As you give, you are putting your faith in God and it is telling your brain that there is more than enough and you have the attitude to start manifesting more. Giving makes you feel better about yourself and puts you in a better frame of mind to plant seeds so you can give more. If you are not in the habit of giving, I really encourage you to do so, as the benefits are worth every penny you give.
• Take 10% of your monthly income and use it to reduce your debt- You should alter your life to the point where you are not creating more debt and work every month to reduce that debt. 10% of your monthly income is a realistic amount that will make a difference. You can even call your bank or credit card company and explain to them what you are doing and see if they will work with you to reduce your interest rates on credit cards or loans.You will be surprised how many of them will do this if they are not receiving payment from you in a timely manner.
• Take 10% of your monthly income and use it to invest, or save it to invest- instead of working for your money, you need your money to be working for you. You can save money in the bank which will acquire a little interest, or you can put it in other higher yield interest programs to make a little more. There are literally thousands of ways to invest your money that you should talk to a qualified financial planner about.
• That leaves you with 70% of your monthly income to live on. If you cannot live on that 70%, you need to change your lifestyle, or find a way to make more money so you can live on 70% of your monthly income.

Try putting this financial plan in place and see how it releases your financial pressure. When you are at a place where money is not an issue that you are worrying about every day, a lot of other things will fall into place, like having more time to spend with loved ones and on yourself, losing weight and lifting depression. The pursuit of money can be a deadly path to be caught on, but once you master your finances, you will feel a huge weight lifted from your life.