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Research shows that money is the number one cause of stress among Americans. Balancing your expenses and managing your spending habits can be tricky, but we’ve come up with six great tips to help keep that stress away.

1. Track What You’re Spending

Keeping track of what you spend money on is a great way to analyze your spending habits and make changes. Sometimes you don’t realize what spending problems you have until you see your payments on paper. Keep a paper or digital list, or even download a money spending app, to help alleviate some stress.

2. Reach Out for Support

Having a support system is a great way to reach your financial goals. Ask a reliable friend to hold you accountable for your spending habits and surround yourself with people that want you to succeed financially.

3. Limit Temptation

If you tend to make unnecessary or impulse purchases when you’re in a certain area, like in a mall or downtown, do your best to avoid those areas. Whatever brings about the temptation to spend money when you don’t need to, keep your distance from it. Next time you visit a mall, maybe bring along your accountability partner so they can help out!

4. Make a Plan

Sit down and spend some time reviewing your financial situation. Figure out when money causes you stress and brainstorm a way to ease that stress. For example, if you tend to worry about spending money while getting groceries, try setting a weekly or monthly grocery budget and make a grocery list that matches up. Next time you go to the store, you’ll have the list and won’t have to worry about what number the store clerk will say at checkout.

5. Have an Emergency Fund

Unexpected expenses will come about in life and, in those situations, you’ll feel a lot better knowing you have a backup plan. It might seem like a challenge to build an emergency fund, but start small and build it up over time. 

6. Check Your Progress

Seeing how far you’ve come after implementing a financial plan is like a breath of fresh air. Look at the positives and be proud of yourself for making a change in the first place.

If you’re making an effort to control your spending habits, the stress of money will eventually become less and less. Feel free to contact The Middlefield Banking Co. to learn more about money habits and take steps towards having a stress-free spring season.