052 – 9 Stress-Reducing Truths About Money

Do you ever stress out about money?  I bet you do.  Would you like to learn nine Stress-Reducing Truths about money?  listen to the podcast today and check out the article that inspired this weeks episode. “Money won’t make you happy, but everybody wants to find out for themselves.” —Zig Ziglar According to a recent survey, 71% of Americans identify money as a significant cause of stress in their lives. Of course, America is not alone in this regard. Looking inside the numbers, we get a glimpse as to why the percentage is so high: 76% of households live paycheck-to-paycheck and credit card debt continues to grow. No doubt, these statistics contribute to the problem. But money-related stress is not entirely a matter of simple dollars and numbers. When 71% of respondents cite money as a cause, the problem clearly extends across socio-economic classes. Money-related stress is not just about a shortage of dollars. It is more than that. Instead, the stress stems from the way we think about and interact with money and the solution is not as simple as “just add more.” This may mask the symptoms temporarily, but the anxiety always returns. Instead, the solution may be as simple (and as difficult) as changing the way we think about money entirely. If you struggle with financial-related stress, begin thinking different about money by adopting a few of these stress-reducing thoughts. They have each worked for me. 1. You need less than you think. Most of the things we think we can’t live without are considered luxuries to most of the world—or even our grandparents. Think: cell phones, microwaves, cars, matching shoes, larger closets, just to name a few. The commercialization of our society has worked hard to stir discontent in our hearts. They have won. They have caused us to redefine their factory-produced items as legitimate needs. And have caused great stress in our lives because of it. Meanwhile, there are wonderful benefits for those who choose to own less. 2. Money won’t make you happy. It is simply an illusion that money will bring you happiness—study after study confirms it, so does experience. Some of the most joyful people I know are far from wealthy and some of the wealthiest people I know are far from joy. Now, certainly, there is a measure of stability and security that arises from having our most basic financial needs met. But we need so much less than we think we need. And the sooner we stop assuming more money will make us happy tomorrow, the sooner we can start finding happiness today. 3. Money is not the greatest goal of your work. Financial compensation does not succeed as a long-term motivator and the association between salary and job satisfaction is routinely shown to be very weak. In other words, a larger paycheck will not improve your satisfaction at work. There is a significant amount of work-related stress that can be removed by simply deciding to be content with your pay (assuming it is fair). Don’t work for the paycheck alone. Work for the sake of contribution and benefit to others. This approach is idealistic, but it is also fulfilling and stress-reducing. 4. Wealth has its own troubles. There are troubles associated with poverty, few of us would debate that fact. But there are also troubles associated with wealth. Unfortunately, we give little thought to them. As a result, we think the presence of money is always good, always a blessing. And we desire it. But money brings troubles of its own: it clouds moral judgement, it distorts empathy, it promotes pride and arrogance, it can become an addiction. Fears of the wealthy include isolation, anxiety, and raising well-adjusted children. In other words, if you are thinking money will solve your troubles, you are mistaken. And once we change our thinking on this, we can stop searching for answers in the wrong places. 5. The desire for riches robs us of life.