We know that having a lot of money gives you a solid sense of security, and with that you can reach a consistent high chill factor level. I want to go over a few key tips to help reduce money-related stress.

  • 1.) Keep a record of your finances. This sounds like a gimme but it’s absolutely key. If you know exactly how much you’re making and exactly how much you’re spending on a monthly basis you can keep a near-perfect balance of your available spending. It’s also a good way to determine how much you can put into savings or investments on a regular basis. I highly recommend using Microsoft Excel (part of Microsoft Office Suite) or download the free Open Office Suite which has a nearly identical software package. Create a spreadsheet with a month by month log of your income/expenses. Being specific is key here. To use mine as an example, the first column consists of my regular bills (mortgage, electricity, phone/net, credit card, etc). Below that I have income and an area for unspecified finances (job income, interest, additional income, additional expenses). You can use “notes” to comment individual non-regular changes. Below those are the totals rows (total spent, total made, total left). Use the following columns marked by month to enter all the numbers, and you’ll have a very solid grasp of your finances.