No more financial anxiety when you face your finances full on

June 13, 2019

Enable’s IFA’s in Bishop’s Stortford know that financial anxiety can be crippling. To avoid the pain of financial anxiety the best thing to do is face your finances full on and address what is worrying you.  Experienced Independent Financial Advisors know that when you know what you are dealing with you have taken the first step to sorting it out.

For many not looking properly at the extent of their cashflow problem and sticking their heads in the sand only fuels anxiety. So to get hold of your financial anxiety the first thing to do is to make some time to go through all your statements and bills. Find out if you really are in the red and, if so, by how much.

Once you have a clear and proper handle on your outgoings, look a good look at your income. Work out how much you have left over after you have met all of your outgoings. Then you will have a clear picture of how much you can afford to spend each month, once you know this you will feel more in control.

Enable’s IFAs now from experience that not everyone with financial anxiety is on the breadline, many people who are quite comfortably off can feel really panicked about spending their hard earned money. You have to ask yourself why you are saving and investing if is not for sometimes spending your money. Sometimes people grew up in a family with little money and never want o go there again others may have had a financial shock at some point, or don’t feel secure in a job or relationship. Ask yourself if had more money in the bank would that really make you feel better, or could that cash be working to do things that make you feel happier or safer.

Enable’s IFA’s can help you understand more about your relationship to your money and help you save, invest, borrow and even spend your money to reduce your financial anxiety.

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individually tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain.

Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.

https://www.theguardian.com/lifeandstyle/2019/apr/14/five-ways-to-reduce-financial-anxiety

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