Welcome to Week 6 of the Stress Management Email Series!

WELCOME TO WEEK 6
OF THE STRESS
MANAGEMENT EMAIL
SERIES!
Financial Management and Stress

FINANCIAL STRESS
Financial stress affects more
than just your wallet: It can
have a ripple affect on your
health and interpersonal
relationships.
Highly financially stressed
people are more likely to:
• Lose sleep
• Have severe anxiety
• Take stress out on others
• Experience severe depression
• Have ulcers or other digestive
problems
• Have heart problems or
migraines.

TIPS ON HOW TO DEAL WITH YOUR
FINANCIAL STRESS
Talk to someone and recognize that you aren’t helpless. Talking to a friend,
loved one or financial counselor will prevent bottling of stress.
Budgeting is a very important thing. Having a budget gives you confidence
in your personal financial strategy, which can help you dramatically lower
your financial stress level.
Seek advice about your money problems and the steps that you are going to
reduce financial stress.
Focusing on relationships is a low cost way that can bring yourself
enjoyment and fun into your life.
Prioritize your life and see the opportunities to focus on what’s important in
your life like your family.
Eat well because stress can lead to weight gain and general wear and tear of
your body.
Get physically active to reduce your stress and improve your overall mood.
Take control, rather than being passive. This will help reduce your stress.

9 WAYS TO TACKLE FINANCES:
OVERCOMING MENTAL OBSTACLES
1. Narrow Your Choices.
It’s too easy to allow the fear of making bad choices keep you from
making any choice at all. Remember: You don’t have to make the
“right” choice or “final” choice, just make a choice to act.
2. Ditch Your Defeatist Attitude.
The trick to this is to find a way to believe that somehow, even in
the most difficult of circumstances, there is hope. Simple things like
making a gratitude list or visualizing yourself free of financial stress
can help you feel more hopeful.
3. Stop Rowing in Circles.
Picture each household as a boat. If you’re on your own, you’ll have
to pull your own weight. If you have a family to support, having
someone can make it easier or harder depending if you’re on the
same page. Make a list and put check marks next to the items you
both agree upon and question marks next to items for compromise.
This will make it easier to make a budget to agree upon.

9 WAYS TO TACKLE FINANCES:
BUDGETING
4. Make a Budget and Stick to it.
In simple terms, put your income at the top and deduct expenses. The
amount left over is what you can spend on other things, such as
reducing debt and increasing savings. Having a written budget gives
you confidence in your personal financial strategy.
5. Cut Expenses.
With the right attitude, this can be fun. Have the family split up at the
grocery store to see who can find the biggest bargain. Sticking to your
written budget will help you cut out the things you don’t really need to
spend money on.
6. Get Rid of Debt.
This should be your number one priority. Certain kinds of debt
(mortgages, student loans, etc.) can be good in that they can build your
credit rating. You may be able to cut costs by restructuring your “good”
credit loans at lower rates. “Bad” credit – credit cards – however, the
only solution is to pay it off as quickly as possible. To accelerate debt
reduction: consolidate balances onto the lowest-interest card possible,
always pay more than the minimum balance and pay the most off the
credit card with the highest interest rate.

9 WAYS TO TACKLE FINANCES: SAVING
STRATEGIES
7. Retirement Savings Strategies.
As an employee of an educational institution, you have the option of a
retirement account known as a 403(b). Contributions are made on a pre-tax basis
which can greatly reduce your tax bill. The tax savings magnifies as your
contribution increases. Your earnings in this fund will grow tax-free until time
of withdrawal. Any fund that contributes toward retirement will greatly reduce
your stress because saving money ensures a better quality of life after you retire.
8. Improve your Credit Score.
Creditors who have scores of 760+ have access to the best rates. Pulling up a low
credit score is a long, painstaking process of paying your bills on time, building
equity and repaying debt. Don’t get discouraged, it takes time but it will be a
rewarding experience when you get to your goal.
9. Coupons!
They are all over the internet and phone apps. You don’t have to become an
“extreme couponer” but enjoy the benefits of coupons. When couponing, be
organized. Use apps that’ll keep track for you or organize paper ones by date and
type so they don’t expire. Only buy what you need when couponing. Only clip
coupons for products you’ll actually use.

FINANCIAL STRESS AND YOUR
RELATIONSHIP
Communicate.
When you avoid talking about
money with your significant
other, problems become worse.
Financial stress causes everyone to
become more sensitive and we
may avoid discussion about it.
Problems cannot be solved unless
they are discussed or aired out.
Make a Plan.
Set a budget and time each week
to sit down and talk about your
budget with your significant
other. This will help you both stay
focused on possible problems.
Share Financial Responsibilities.
Both you and your significant
other should be involved in the
finances. One may make a higher
income but this doesn’t mean both
aren’t equally responsible. Sharing
the responsibility keeps the other
from feeling over-burdened, which
lessens the stress that negatively
reflects your relationship.
Have an Emergency Plan.
Stash some cash away for a rainy
day. Setting aside savings could be
your saving grace if either one of
you lose your job or have your
hours cut.
*Remember As long as you have a roof over your head and food on the
table, things may not be as bad as they seem. Be appreciative that you
still have one another.

EASY WAYS TO SAVE MONEY
Cook at home often.
Make your own coffee.
Brown bag lunch a few days a
week.
Go grocery shopping while in
a hurry – armed with a list.
Watch out for expiration
dates on perishables.
Buy in bulk when possible –
cereals, rice, beans,
toothpaste, body wash, toilet
paper.
Buy generic products
whenever possible – cereal,
milk.
Disconnect land line if
possible.
Borrow books from the library
instead of buying them.
Avoid impulse buying.
Avoid vending machines.
Ride your bike or carpool whenever
possible.
Catch the matinee showing for a
cheaper movie.
Plan vacations ahead of time.
Keep a distance from lavish highroller
friends.
Use grocery store bags to line trash
cans.

INSTANT STRESS BUSTERS
Lie on your back and position a tennis ball under your
tense points – your lower back, between your shoulder
blades, etc. Roll gently up and down and side to side.
Soak a hand towel and microwave for two minutes
until steamy. Place on back of neck, face or achy
hands.
Pick up a bouquet of purple, blue or green flowers.
These colors have a calming effect. Place in a glass
bowl so you can see the water and keep it on your
desk.

STRESS IS NOT WHAT HAPPENS TO
US. IT’S OUR RESPONSE TO WHAT
HAPPENS TO US. AND RESPONSE
IS SOMETHING WE CAN CHOOSE.
-UNKNOWN

ADDITIONAL RESOURCES
http://www.nytimes.com/2009/04/09/health/09stressbox.html_
r=2& Coping with Financial Stress
http://hcp.nku.edu/counselingservices/clienteducation/financial
stress.php Financial Stress
Or for personalized consultations (for District employees and/or
their households) contact:
Mountain Employee Assistance Program
1091 Haskell Street
Reno, NV 89509
(775) 322-6066
www.mountaineap.com
mountaineap@gmail.com