Dealing With Money Stress

“The more money you make, the happier you become”

The saying above is everyone’s misconception about money but recent survey results in the United States have shown that a substantial part of the adult population feel stressed about money and this isn’t just an American thing obviously — it easily spans to other countries.

The truth is that money stress usually emanates from “wanting more”, and getting more will only be a quick fix because the situation always comes back to you.

Hence, it becomes imperative to begin to understand money as an entity differently even though it may come as though difficult. So a few things:

Money will not guarantee you happiness — What money and more of it will certainly do for you is bring you a great deal of stability and security. Apparently, having all your basic needs sorted and bills paid at least guarantees you relief. But you know what, human needs are insatiable so you keep wanting more and seeking more money to fulfill them. The sooner you start seeking for your happiness in other things but money the better for you.

People lie, numbers don’t — If expenses ever start to stress you, look at the numbers, analyze them, they never lie. You can start by listing out all your expenses and categorizing into needs vs wants. Then look at your income to understand your financial ability against your overwhelming expenses and see where you need to cut down. Essentially, what this does for you is to put you in control and not your expenses controlling you thereby decreasing your stress level.

Unriddle Money — Actively seek knowledge around money. If the lack of it or use of it still leaves you with a daunting feeling, then it is imperative that you demystify it. Subscribe to newsletters, podcasts, blogs and follow people online that give money talks on investments, personal finance etc. You can also engage with friends and family to understand how they manage money to see if you can pick cues from them. Although know to take whatever insight with a pinch of salt because their methods may not exactly work for you.

Stress affects our mental well being. It increases our fatigue level and we should strive to reduce and put efforts in place that addresses any form of it.

Making Life Possible is our ethos at paga, and it is what keeps us committed to our mission of providing inclusive financial services for all Nigerians. With over 18,000+ agent outlets and 10 million+ customers, we are inspired by the stories of the community we are building and the people we are empowering by making life possible every single day.