How do you deal with financial stress? - page 5.

Woodie

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Quote from: Ultegra134 on September 24, 2023, 07:20:39 AM

Maybe I'm stressing out too much because I'm yet to find proper housing to establish myself again after being away for over a year in the military. I'm generally an anxious person myself, but does anyone else feel the same, and how do you deal with it? How do you stay optimistic?

They say when the going gets tough, the tough get going...

You are not alone buddy, when life gives you lemons make lemonade out of it...things might look like they have reached breaking point but trust me there is always an explored option and keep your head held up high and the breakthrough is bound to happen...if you have family around try reach out to them as this is at chip at your disposal while you look for proper housing and other resources to help you get things together.

Quote from: Joshapat on October 01, 2023, 10:15:54 AM

Economic and financial conditions are of course increasingly difficult to predict, many types of investments going bankrupt means we cannot depend on one or two types of investments, continuing to look for business and investment opportunities is important for our finances to continue to improve.

I agree with you!

Reliance on one source of income does put financial stress on you as you can do so little yet demands are high, and the only counter measure is to introduce more streams of income to cushion all this pressure on ones pocket!

Mahanton

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Quote from: bhadz on October 03, 2023, 12:15:02 PM

Quote from: NewRanger on October 03, 2023, 01:55:30 AM

Quote from: bhadz on October 02, 2023, 04:03:14 PM

Actually, many have been mentioned on this thread like the following;

Real estate
Business

And it's not just about having those investments or assets. You can also have employment that's good paying or if not, as long as it brings food to your family's table. That's what matters on these days when everyone is struggling and having a hard time beating up the inflation and are just in the recovery period of their life statuses.

Well, I think financial security is also very necessary in investing, especially in the world of digital currencies, for example BTC, along with various other aspects of financial planning, as @Antotena said, because we are also just ordinary people who do not have the power to see the future.

What you are saying is that fulfillment is the main thing and it is natural for you to say that because what must come first is fulfilling the minimum basic needs in the family, food must be prioritized regardless of whatever conditions are occurring. We can still endure hunger for 1 day without food and only consume water, but our children may not be able to.

Been there and done that, it's a real situation that many are dealing with. Like we can survive and that's true since we're adults but we can't attain this survival the same goes for the younger ones that we have, especially toddlers. It's understandable that someone can't invest with those when he's focusing on providing food for his family. Many are in that situation but, there can also be some ways of doing things on your own if you want to invest. There is no need in sacrificing the budgeting part but, what you need to sacrifice is to add extra effort for you to earn more with another source of income.

A must thing to be done but this isnt something that you could really be able to attain so easily. It might really that sounds easy but the truth is that due to competition and lack of opportunities then for sure it would really
be just that so hard on getting some extra jobs or having those extra income on which you could really be able to get. If it was easy on the first place then tons of people or most of us wouldnt really be facing
any tough challenges in our life but we are totally seeing the different thing. For those who do struggle then for sure they are really that thinking on having those additional income source but since to those common
factors then it isnt something that so easy on doing so and this is why we do really need to have those sacrifices.Yes, its not really that something that we do like to happen but since we dont really have no choice
then it would really be just that so sad that we would really be needing to do it for us to survive. If we do really need up to survive then adjustments should really be made.

Rupok

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The situation in the country is now very bad, the price of every thing is increasing at double rate. The whole world is facing this problem since the COVID-19. Financial stress is currently being felt by individuals all over the world. Inflation and economic problems of the country are having a negative impact on the standard of living of the people in general. Every human being is now fighting for survival. I personally invest bitcoins in business as well as trading sector to continue financial growth.

bhadz

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Quote from: NewRanger on October 03, 2023, 01:55:30 AM

Quote from: bhadz on October 02, 2023, 04:03:14 PM

Actually, many have been mentioned on this thread like the following;

Real estate
Business

And it's not just about having those investments or assets. You can also have employment that's good paying or if not, as long as it brings food to your family's table. That's what matters on these days when everyone is struggling and having a hard time beating up the inflation and are just in the recovery period of their life statuses.

Well, I think financial security is also very necessary in investing, especially in the world of digital currencies, for example BTC, along with various other aspects of financial planning, as @Antotena said, because we are also just ordinary people who do not have the power to see the future.

What you are saying is that fulfillment is the main thing and it is natural for you to say that because what must come first is fulfilling the minimum basic needs in the family, food must be prioritized regardless of whatever conditions are occurring. We can still endure hunger for 1 day without food and only consume water, but our children may not be able to.

Been there and done that, it's a real situation that many are dealing with. Like we can survive and that's true since we're adults but we can't attain this survival the same goes for the younger ones that we have, especially toddlers. It's understandable that someone can't invest with those when he's focusing on providing food for his family. Many are in that situation but, there can also be some ways of doing things on your own if you want to invest. There is no need in sacrificing the budgeting part but, what you need to sacrifice is to add extra effort for you to earn more with another source of income.

slapper

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Quote from: dezoel on October 03, 2023, 12:15:45 AM

Quote from: asyakashi on September 29, 2023, 03:36:11 AM

no need to be too stressed about it. just prepare well. for example if we want to deal with inflation. we just have to really manage our money well. The main thing is that we have to really hold back expenses unless it is really necessary. if we need it according to our prestige. of course economic pressure will continue to haunt us. not to mention the endless inflation we will continue to feel every year.

The thing is, some people earn enough to be able to manage through inflation because they know they have been spending way more than they had to and they can cut down those expenses to manage within inflation and when the prices are going constantly up. However, if someone isn't earning enough and they have barely been managing and inflation hits them hard all of a sudden, that is when they start to feel extreme economic pressure in these times.

So, economic pressure will always haunt those the most and they also won't have any savings or anything so that they can spend that money when the times are difficult and then save more when they become a bit stable because they have already been earning a below average income.

The economic pressure, inflation, and financial hardships of low-income people are far more complex. Your comment only scratches the surface of economics and human behaviour. Inflation affects purchasing power, investment decisions, and economic stability throughout the economy. Is it foolish to think people can “cut down” costs to manage inflation? The structural failing that causes economic inequities must be addressed, not just cutting back. A "solution" to a deep-rooted problem is to “save more” when things stabilise. Economic pressure doesn't merely "haunt" - it stifles, suppresses, and oppresses specific groups. To fully understand such issues, economic theories and human behavioural research must be studied

NewRanger

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Quote from: bhadz on October 02, 2023, 04:03:14 PM

Quote from: Antotena on October 02, 2023, 11:26:42 AM

I don't think if anyone have invested any of the investments exclusive of bitcoin that has made a remarkable profit, it has been loses from different angles, we need more good investment securities because these ones are not making sense again.

Actually, many have been mentioned on this thread like the following;

Real estate
Business

And it's not just about having those investments or assets. You can also have employment that's good paying or if not, as long as it brings food to your family's table. That's what matters on these days when everyone is struggling and having a hard time beating up the inflation and are just in the recovery period of their life statuses.

Well, I think financial security is also very necessary in investing, especially in the world of digital currencies, for example BTC, along with various other aspects of financial planning, as @Antotena said, because we are also just ordinary people who do not have the power to see the future.

What you are saying is that fulfillment is the main thing and it is natural for you to say that because what must come first is fulfilling the minimum basic needs in the family, food must be prioritized regardless of whatever conditions are occurring. We can still endure hunger for 1 day without food and only consume water, but our children may not be able to.

dezoel

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Quote from: asyakashi on September 29, 2023, 03:36:11 AM

no need to be too stressed about it. just prepare well. for example if we want to deal with inflation. we just have to really manage our money well. The main thing is that we have to really hold back expenses unless it is really necessary. if we need it according to our prestige. of course economic pressure will continue to haunt us. not to mention the endless inflation we will continue to feel every year.

The thing is, some people earn enough to be able to manage through inflation because they know they have been spending way more than they had to and they can cut down those expenses to manage within inflation and when the prices are going constantly up. However, if someone isn't earning enough and they have barely been managing and inflation hits them hard all of a sudden, that is when they start to feel extreme economic pressure in these times.

So, economic pressure will always haunt those the most and they also won't have any savings or anything so that they can spend that money when the times are difficult and then save more when they become a bit stable because they have already been earning a below average income.

bhadz

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Quote from: Antotena on October 02, 2023, 11:26:42 AM

What investment do you really think is worth it today to look into that can guarantee a return? It is now as of bitcoin is more preferably better than all the available options,

No doubt that Bitcoin is one of the best investments in these times. It may not guarantee a return in a short period of time but if you're going to look at its return for the long run, it is.

Quote from: Antotena on October 02, 2023, 11:26:42 AM

I don't think if anyone have invested any of the investments exclusive of bitcoin that has made a remarkable profit, it has been loses from different angles, we need more good investment securities because these ones are not making sense again.

Actually, many have been mentioned on this thread like the following;

Real estate
Business

And it's not just about having those investments or assets. You can also have employment that's good paying or if not, as long as it brings food to your family's table. That's what matters on these days when everyone is struggling and having a hard time beating up the inflation and are just in the recovery period of their life statuses.

Inwestour

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Quote from: xSkylarx on October 02, 2023, 04:48:57 AM

You will really feel secured which I want to experience in the future as right now there are still tons of needs to pay and also salary is not enough. Most of us really want to have savings but the problem is that it won't allow us because of our income. Others may say that even a small amount is still savings which is true but still by the end of the month we can still get it because we need money.

When you're already financially stable like you already have extra money after paying bills and buying our needs then that is the time you'll save because you'll be tempted at that time to buy your wants.

We live in a consumer society, we are constantly told that we need to buy something else, one more thing, but do we really need it, or is advertising influencing us when we want to buy something we can do without.

I believe that it is more important to gain freedom than to gain all the things we can do without. At least until you have created savings that will allow you to feel secure, and then perhaps you can rethink something and look at it from a different perspective.

Antotena

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Quote from: Joshapat on October 01, 2023, 10:15:54 AM

Economic and financial conditions are of course increasingly difficult to predict, many types of investments going bankrupt means we cannot depend on one or two types of investments, continuing to look for business and investment opportunities is important for our finances to continue to improve.

What investment do you really think is worth it today to look into that can guarantee a return? It is now as of bitcoin is more preferably better than all the available options, I don't think if anyone have invested any of the investments exclusive of bitcoin that has made a remarkable profit, it has been loses from different angles, we need more good investment securities because these ones are not making sense again.

goldkingcoiner

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Quote from: Ultegra134 on September 24, 2023, 07:20:39 AM

The past few years after COVID-19 have been the absolute worst; everything keeps rising—petrol, daily groceries, electricity, housing—to the point where you're barely making ends meet.

...

how do you deal with it? How do you stay optimistic?

I live in a country which does not treat their people like worthless livestock. If I were to lose all my money, my housing and my job, then my country would cover my health insurance, housing, living costs and even free mental health therapy. So I would not go into a state of desperation just because I have fallen on financially hard times. Personally, I am all for socialist democracy. I would rather give up half of my paycheck and never have to worry about having third-world, stone-age survival inconveniences because unconditional greed is considered to be a good thing for some reason... But most people barely know the difference between socialism and communism and they associate anything which might implicate fairness and sharing as communist (I am against communism. Because it provably has never worked).

Wiwo

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Quote from: blockman on October 02, 2023, 09:22:48 AM

It is not really easy and that is because we only read and hear success stories of businessmen that were already successful in the paths that they took. But if you'll ask them how they've been through, they'll answer you honestly that it is not easy.

Yes, giving a business a long time to build up before expecting a return on investment is very important as a sustenance of the business because during that time, the business will be able to build up enough liquidity that will propel its future suitability and also geared the business towards a successful part along the line.

Although the part of being an easy aspect comes from the ability of the business owner to remain consistent and meet up with the business's daily demands and at some point the economic challenges that affects some business may be external forces such as government regulations that have a direct impact on your area of business, so in all sense of it requires hard works, resilience and other attributes to be able to stay ahead in business.

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Quote from: Wiwo on October 02, 2023, 05:15:42 AM

Quote from: blockman on October 02, 2023, 04:27:00 AM

~snip

I guess the best way to discover a success part in business is to first of all have a motivation in the business because most times, we can't predict the future so for such avoidance of bad future economic possibility is important to have a discounted motivational point aside the profits and loses, most times, doing business that you have basic knowledge, experience and path with is most motivational since you will already know the best route to take to avoid any possible loophole and also being able to stand up against any possible future economic challenges.

It is a basic requirement that you know what you're up to with the business that you're about to establish so if you're just starting out and you have no idea of the actual business. This means that you're just testing and you can do so much with that because you're fine with the lessons that you'll get to have by the end of time. And if looking at those results, it will define your decision whether to pursue that and if there's a potential of what you're doing, the early failure won't make you stop from exploring the business that you're about to make.

Quote from: Wiwo on October 02, 2023, 05:15:42 AM

Having a business is not as easy as it sound, but then we have to also make up our mind to stand up against any possible challenges that may arise while doing business or a job because life is full of daily unique challenges.

It is not really easy and that is because we only read and hear success stories of businessmen that were already successful in the paths that they took. But if you'll ask them how they've been through, they'll answer you honestly that it is not easy.

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In my country, the opportunities to earn money have significantly expanded, and it seems like the general public isn't feeling the ongoing crisis. Some of my friends are in a situation similar to yours, having switched to a new company and receiving a lower salary compared to their previous job. However, the recovery seems to be happening remarkably swiftly, and even the entertainment industry is operating as if nothing is hindering it.

Indeed, I haven't been adversely affected by the economic challenges brought on by COVID. Perhaps what I can share with you is the importance of cultivating skills and expertise in a particular field. Instead of being an employee indefinitely, it's advisable to have a skill that can generate income based on your performance. This approach will allow you to grow and thrive rather than being confined to being an employee at a company until old age.

Wiwo

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Quote from: blockman on October 02, 2023, 04:27:00 AM

Quote from: Pamadar on October 01, 2023, 11:25:04 PM

Continue to venture yourself with available business that you know you can excel is possible, like what you mentioned
it's difficult to predict if what will happen to the one that you are supporting.

While it sounds easy to find a business you think that you can excel easily. Businesses are going to take time until you finally see them run stably and you can count on it as your major source of income. But it all starts to what you know and you're not just going to do a business just because it's profitable based on others testimony but you got to prove it yourself that you know how to run one.

Quote from: Pamadar on October 01, 2023, 11:25:04 PM

Chances that bankruptcy can happen and you need to move forward and find another business or investment to cover
losses that you got from the previous will give you another opportunity to work it out.

Yes, and that's the cycle for most of the businessmen that do it wrong. They have no background but as a start, it's actually a good one and later on they will find out what suits them right. If it's either being in a business or being in a job where they love what they're doing. And as you choose, you'll recognize that owning a business and having a fruitful investment takes time for them to see results.

I guess the best way to discover a success part in business is to first of all have a motivation in the business because most times, we can't predict the future so for such avoidance of bad future economic possibility is important to have a discounted motivational point aside the profits and loses, most times, doing business that you have basic knowledge, experience and path with is most motivational since you will already know the best route to take to avoid any possible loophole and also being able to stand up against any possible future economic challenges.

Having a business is not as easy as it sound, but then we have to also make up our mind to stand up against any possible challenges that may arise while doing business or a job because life is full of daily unique challenges.

xSkylarx

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Quote from: Inwestour on October 01, 2023, 08:20:09 AM

Quote from: xSkylarx on October 01, 2023, 01:05:09 AM

That small amount can help you with your needs. Just imagine your salary is just enough for bills then you have a side hustle and that is for your daily food. Even if you earn $5 daily as a side hustle or below it can still be used to buy some food to survive on a day. Always be thankful for it because others have dreamed of them having side hustles and even finding them but still they haven't gotten lucky enough to find one.

Side hustles are really important now because of the high prices and because our salary is not enough. I am lucky to have a side hustle which helps us with our food and other needs and our main salary is for bills.

Money becomes very important when it is scarce, which is why I say that we need to focus on money at the very beginning, to make you feel secure, so that you always have a reserve of cash that will give you that peace of mind. After all, in this case, little will change for you, you will still work, earn money, make plans and achieve your goals, but at the same time you will not need to walk on the edge and worry that you will not have anything to buy food for tomorrow. Once you have savings, you can move forward with peace of mind about your finances.

You will really feel secured which I want to experience in the future as right now there are still tons of needs to pay and also salary is not enough. Most of us really want to have savings but the problem is that it won't allow us because of our income. Others may say that even a small amount is still savings which is true but still by the end of the month we can still get it because we need money.

When you're already financially stable like you already have extra money after paying bills and buying our needs then that is the time you'll save because you'll be tempted at that time to buy your wants.

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Quote from: Pamadar on October 01, 2023, 11:25:04 PM

Continue to venture yourself with available business that you know you can excel is possible, like what you mentioned
it's difficult to predict if what will happen to the one that you are supporting.

While it sounds easy to find a business you think that you can excel easily. Businesses are going to take time until you finally see them run stably and you can count on it as your major source of income. But it all starts to what you know and you're not just going to do a business just because it's profitable based on others testimony but you got to prove it yourself that you know how to run one.

Quote from: Pamadar on October 01, 2023, 11:25:04 PM

Chances that bankruptcy can happen and you need to move forward and find another business or investment to cover
losses that you got from the previous will give you another opportunity to work it out.

Yes, and that's the cycle for most of the businessmen that do it wrong. They have no background but as a start, it's actually a good one and later on they will find out what suits them right. If it's either being in a business or being in a job where they love what they're doing. And as you choose, you'll recognize that owning a business and having a fruitful investment takes time for them to see results.

HONDACD125

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Quote from: rby on October 01, 2023, 06:32:29 PM

Financial stress or distress is real and is something that happens. I'm also a victim of it due to my state of location and traveling. Immediately after the Covid 19, a new world started for some people. Some persons moved from grace to grass depending on different countries that they are located and the impact of covid-19 in that very country.

Whenever one is faced with financial stress due to the increased inflation that is happening globally and weakness of local fiat, what should be done would be to try as much as possible to spend less money. If you keep spending much and earning less when there is still inflation, you will end up being strangled by more financial stresses.

I think we should consider increasing our sources of income so that in such a situation we can control our stress. If someone's income is low and expenses are high, inflation is a very difficult situation for that person, and in such a situation, mental stress is a natural process. Whatever the reasons, not everyone can handle financial stress. Very few people cope with such situations consistently. In a country where the economy is weak and the currency is devalued, you can imagine that people in such countries are unable to buy even their daily necessities

Some people cannot cope with such situations despite spending less money. Where can you cut your expenses when you can't even buy two meals a day? I think people who earn less can't even think of spending more in inflation because they are already under pressure. We can give up our desires, but we cannot give up our daily needs.

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Quote from: Negotiation on September 24, 2023, 09:29:33 AM

Everyone goes through stress related to money after all over the past few years millions of people have faced financial difficulties due to various problems around the world, including epidemics and wars. Since life is unpredictable, a monthly budget check up is critical to improving your financial health. Set aside some time to schedule organize and cancel all payments from your bank account to regain control of your finances. The more control you have the less stressed you will be if your money worries you're probably sure that increasing your income can help you deal with financial stress and prepare a budget create an emergency fund.

I have noticed one thing, the more a person has money, the more his spending capacity increases.
I cannot say that having more money is a problem, but I can say If a person has also a decent budget and an average budget, he should be thankful to his God, as we have heard too many times, that in every part of life or every stage of life, we should thank of our God.
Another thing, one should think of is his financial strategies, that is where most of the money goes or is invested, and he should cover that area. In this way, we will take control of his money, and at last, he can store his money, and become stress-free from the pressure of not having money.

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Quote from: rby on October 01, 2023, 06:32:29 PM

Financial stress or distress is real and is something that happens. I'm also a victim of it due to my state of location and traveling. Immediately after the Covid 19, a new world started for some people. Some persons moved from grace to grass depending on different countries that they are located and the impact of covid-19 in that very country.

Whenever one is faced with financial stress due to the increased inflation that is happening globally and weakness of local fiat, what should be done would be to try as much as possible to spend less money. If you keep spending much and earning less when there is still inflation, you will end up being strangled by more financial stresses.

It will never end and this condition always repeats itself, after we finished it well 1 month ago, preparations for next month must also be ready. Financial pressure is always there, but if we are good at managing it and work together with our wives, I am sure it will be easy to get through it. Of course, we as husbands must not stand idly by and give up on this condition by trying our best and accepting the condition with grace after we try. whatever the results are or are not there.

Topic: How do you deal with financial stress? - page 5. (Read 1819 times)