How to Stop Stressing Over Money - Darius Foroux

Managing money isn’t something we usually learn in school. And if one grew up in a family that lived from paycheck to paycheck, it’s harder to make wise financial decisions as an adult.

How you spend, save, get into debt, and invest depends on you. How other people manage their money is insignificant.

Solution: Understand how personal finance works. The more you learn about money, investing, and wealth, the better you get at managing your own finances.

So many of us have all kinds of big desires that are simply not realistic. Look, I’m all about thinking big. But you should never think that life is only good when you live big.

It’s easy to get stressed when we don’t achieve our expectations. And in today’s world, everyone seems to have sky-high expectations.

Solution: Focus on the process, not the outcomes

When you set goals, it’s tempting to think about the outcomes first. Everyone wants to get in better shape, travel to nice places, earn more, and so forth.

So simply focus on a process you can work on consistently.

Many stick to a job they hate because of the “benefits.” That’s how much they prioritize stability.

So many of us are in that position. We hate our job, but we’re used to a certain lifestyle, so we need a similar job or income to get by.

Sometimes you need to take a step back in the short term to grow in the long term.

Solution: Focus on long-term quality of life.

56% of Americans can’t cover a $1,000 emergency expense with savings.

Emergencies happen. It’s not a matter of if but when. Your washer breaks, you slip and injure yourself, a loved one gets sick, and so forth.

Solution: Build your emergency fund, little by little. Saving is a habit

You don’t have to build your emergency fund suddenly. Try saving a comfortable percentage of your income today. It’s all about consistency.

There are many things money can buy, but the most valuable of all is freedom. Freedom to do what you want and to work for whom you respect.

Earning more is not the solution. More money entraps you, keeps you in shackles. Lesser money, but with more freedom is the key.