There are few things worse than lying in bed at night, tossing and turning over financial stress. Lack of sleep only adds to our stress and hinders our overall mental, physical and emotional health!

Our money choices are linked to our life choices, and our life choices are linked to our money choices. This means that we have to find ways to reduce financial stress if we want to actively and intentionally manage our overall stress levels.

We don’t need to have all our debt cleared, loads of discretionary funds and everything figured out to have financial peace of mind. All we need is a plan, someone to support us in the journey and a way to identify stressors; this is how we fortify financial peace of mind.

We need to know where our money is going; tracking triggers change. As we track our money, learning where it comes in and where it goes out is not only a prudent practise but also loads of fun and deeply empowering. A major fear or stressor stems from not knowing how much money we have and why it doesn’t stay in our account.

It’s easy to fall into this position as we slowly acquire more bank accounts, retail accounts, debit orders and rewards schemes and see the prices of utilities frequently increasing. If we’re not tracking something as simple as our rates and water, we could be bleeding funds into municipal accounts that we weren’t 18 months ago.

Some strategies to cope with this involve more focused budgeting, whilst others could involve closing accounts and consolidating credit facilities. Everyone’s situation is unique, so it’s best to weigh up the different options inside of your own personal financial situation.

Many people also face the constant stress of not having sufficient medical cover. Whilst some plans are comprehensive, with regular changes in basic benefits, it’s not easy to always believe that we have the ‘best available’ cover. Private healthcare is expensive and mostly outside of the average budget, and if government healthcare is insufficient, medical cover products are essential.

There are myriad products available, from entry-level hospital plans and GAP cover solutions to all-inclusive medical aids. Still, there’s also a lot of stress that can be relieved by ensuring that you have a local doctor you trust and are happy to work with. Knowing where your nearest clinics and emergency rooms are and having a payment and admissions plan in place, should you or your family have a medical emergency, will also help fortify financial peace of mind.

Another challenge to our financial peace of mind is the anxiety around providing for our parents in their retirement. Many people who are currently close to – or already retired – are not comfortable discussing their financial situation with their family. This creates enormous stress and pressure on their children to have peace of mind that their parents have all they need to live comfortably in retirement.

Again – relieving this stress begins with identifying the problem areas and learning how to have constructive conversations that lead to plans and happier, more peace-filled sleep patterns!