Anxiety and Stress Management: The Piggybank Mentality: Money and Sanity

The season for giving gifts and racking up that $17.3 billion in credit card debt that has Americans swimming in a sea of red ink is over and now the average consumer/gift-giver has to face some very unpleasant music. You can't undo what's been done but you can do something about maintaining your sanity in the year to come. We've heard mixed comments about the economy and I don't have to be a credit analyst to know that times are going to get rougher in terms of mortgages, credit card payments and paying for gas for the family car.

The secret to survival and maintaining your sanity is to begin now to 'look for that silver lining' that old song told us about. What can you do?

Stress, in many families, is increased by financial problems. We know that more family arguments have a basis in family finances. Instead of arguing about everything, come to terms with your situation and begin to work together now to improve your future.

I think that the piggy bank is here to stay and it should be a symbol for us to help us remember that saving rather than spending to the limit is the only way out of this.

I heard an economist talk about how we are not pushing the country's production by what we want and need, the forces of production are pushing us to buy, buy, buy and too many people are responding to this pied piper.

The Road to Sanity

The road to sanity is paved with several things:

Get a grip on your spending and ask yourself one question: Do I really need this?

Take that loose change in your pocket and put it in the piggy bank, then into a savings account

Sit down and make a budget that reflects what you actually have to spend and stick to it

See a financial counselor if your credit cards are going to get you into serious problems

How many credit cards do you really 'need' and how many can be either shredded or renegotiated for a lower rate?

When you take action, no matter how small it seems, it gives you a sense of empowerment. Instead of having a tantrum or growling at your kids or co-workers, be responsible now for past actions. The years of acting like a kid and just scooping up all those glossy, unnecessary goodies are gone. Reality does bite, but you have the remedy and it's not in drugs or alcohol.

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