MoneyWiseWomen

Financial Literacy and Stress Awareness Month

I think it is wonderful that Financial Literacy Awareness Month and Stress Awareness Month are both in the month of April. I think it makes perfect sense because money is the number one source of stress in people today according to the APA’s Stress in America report. 

http://www.apa.org/news/press/releases/stress/index.aspx 

Money came in ahead of relationships, family, health, and job stability. In a recent poll on Stress 7 out of 10 people said they were “very stressed” about money. 

So how does the financial stress we are feeling affect our health? Stress can lead to health problems. It can affect your cellular level and if stress is long term it can lead to many illnesses.  Extreme stress or stress over long periods of time (called chronic stress) can damage your emotional and physical health. When was the last time you had trouble sleeping, struggled with tiredness, headaches, backaches, upset stomach or irritability? Did you know that these are all symptoms of chronic stress?  

Stress is also associated with high blood pressure and atherosclerosis which are both strong risk factors for stroke. One recent study of more than 20,000 people (57% were women) who had never had a stroke or heart disease found that stress was associated with an increased stroke risk, even after taking into account other stroke risk factors. 

Edward Yoon, M.D., cardiovascular disease specialist with Sutter Regional Medical Foundation & Sutter Solano Medical Center states in a recent article that a recent study called INTERHEART, published in the Lancet medical journal, collected information on thousands of heart attack patients in over 50 countries around the world. Researchers wanted to identify the most important risk factors that could predict a heart attack, and it was unique in its international scope. The usual risk factors were all present: high cholesterol, smoking, obesity, diabetes and high blood pressure were the major factors linked to heart attacks.

But one of the most interesting findings was that patients who reported high stress levels also had a higher risk of heart attack, even when the other factors were taken into account. The importance of stress was consistent across-the-board, in people from Africa, Europe, Asia and the United States, and seemed to be as important as high blood pressure.  

https://www.mylifestages.org/health/heart/ssmc3_stress.page 

I believe that we can use Stress Awareness and Financial Literacy Awareness month to learn that stress, when we do not deal with its source, can have harmful ramifications on our health. So much so that stress is a contributing risk factor to high blood pressure, stroke and heart disease. The link between stress and our physical health continues to be researched, but we do know that when we are stressed and do not deal with it, our physical body suffers. We also know that when we are stressed it can lead us to drink more, eat in an unhealthy manner, and smoke more; all of which are risk factors to high blood pressure, stroke and heart disease.  

I believe the best way to deal with stress is to learn stress management techniques and most importantly, to deal with whatever is causing the stress. If it is financial stress, identify the specific issue that is causing the stress, then deal with that specific issue or issues. Continuing to sweep it under the rug can have a very negative physical impact. 

Here are some sources to help get started on a life of less financial stress: 

If you are having problems identifying the source of your financial stress you can take a financial stress test: http://www.learnvest.com/2010/09/quiz-can-you-pass-a-financial-stress-test/ 

If you need help dealing with the specific financial issue causing you stress there are many resources you can utilize one of them is Money Management International: 

www.360financialliteracy.org

Money Management International provides everything needed to understand finances and where to go for additional assistance. The site includes a 30 day financial fitness path to follow. What better time to start than during Financial Literacy Awareness and Stress Awareness month? 

Make financial fitness a way of life. Take time each week to take care of your finances, listen to webinars on Money Wi$e Women Get Smart and make it a habit to start reading financial literature.  

Also visit the official website for Stress Relief Awareness Month http://stressawarenessmonth.com/sponsor/

Jayne Black

www.jayneblack.com

 

 

 

Happy National Walking Day! Walk and Reduce Financial Stress

For years I have enjoyed daily walks for my health.  But not only do I walk for my health I love to walk because it is a time that I get to be by myself, which is something I relish as a mom of four and step mother to two. The other thing I love about walking is that it helps reduce any stress I might be feeling. When my walk ends I feel stronger physically and emotionally.

When Prevention Magazine posed the question “What Makes You Want to Walk?” to a number of walkers a few years back, they expected to get answers like "to lose weight" and "to get in shape." But they were delighted by the number of people who commented on walking's emotional benefits; in particular, its ability to relieve stress.

Will Social Security be there for you?

Although I worked for Social Security for more than 26 years I spend a lot of time talking about it and it’s important. Some of the things I heard:

• Don’t count on it, because it won’t be there
• Retirement and old people
• It’s going broke
• Social Security takes a lot of money out of my paycheck

What I know for sure is that Social Security is the backbone of our country. I’m sure it will never disappear, but it will look different than it does today. The program and benefits have changed a lot over the years. There has been a variety of changes: elimination of student benefits; the $255 Lump Sum Death Payment is only paid to widows or children; Social Security benefits are taxed, and the full retirement age has been raised to age sixty-seven. And those are just the things I can remember—I’m sure there are more. Social Security will survive—but don’t think for one minute that your monthly Social Security benefit will sustain your current lifestyle. No way! Nor was it ever meant to. One frightening statistic – 80% of widows living in poverty were not poor before their husbands died.

Go Red for Women Celebrates 10 Year Anniversary - Learn and Live!

The American Heart Association celebrated their 10 year anniversary of the Go Red for Women Movement on February 1, 2013! Hundreds of women across the nation wore red on that day to help create awareness about the fact that heart disease is the number one killer in women, causing 1 in 3 deaths each year. My heart goes out to everyone who has lost someone or knows someone who has heart disease.  It is important to also know that 80 percent of heart disease is preventable. How many diseases can we say that we have that much control over?

Giving Your Spending a Reality Check

We’re a nation of spenders and we spend unconsciously for all kinds of reasons. But, with the price of gas going up daily and food prices escalating most of us are struggling to make ends meet. How can we survive the tough economic times?

Begin by tracking your spending for at least two weeks. Try not to spend any differently, just write it all down. Write down everything you buy, whether you use cash, check, debit card or credit card. Use a blank checkbook register or small notebook. At the end of the time review your expenditures to see where your money’s been going. My prediction is you’ll discover dollar dribbling—things you’re spending more on than you thought. Simply writing it down will probably prompt you to spend 10% to 20% less.

Creating Your 2013 Goals

It’s that time again – time to determine my goals and create my 2013 Dream Board. Last year I didn’t
create a Dream Board. I’ve been asking myself why for the past 12 months. Only after I sat down and took the time to reflect on what’s important to me for next year’s goals did I realize the answer. I believe it’s because I’ve been in a holding pattern – not knowing whether to pursue my business or to give myself permission to play. Having worked most of my teenage years and all my adult life I still find it hard to just let loose and play.

 

A couple of weeks ago my friend Michele Corey (Advanced Approach) called me to chat. While we were talking I told her I was getting ready to create my Dream Board with a theme of Seize the Day. Michele told me it sounded a lot like work and not much like play. She suggested my theme be PLAY. Isn’t it amazing that in just a brief conversation with an intuitive coach I had my theme?

More Holiday Shopping Tips

I previously shared holiday shopping saving tips. In this newsletter I’m going to share some more holiday shopping tips.

One of my recommendations was purchasing discounted gift cards to use for your holiday shopping. I like to walk my talk so I purchased a Starbucks gift card from ABC Gift Cards. I had the gift card loaded onto the Starbucks card I regularly use. Everything was great for a couple of weeks until my Starbucks card was suspended without notice. After several calls to Starbucks customer service I learned my card had been closed because the discounted gift card had been bought with a fraudulent credit card. I immediately contacted ABC Gifts Cards to request a refund. I’m happy to report ABC Gift Cards responded to my request quickly and within a few days my PayPal account was refunded. I want to share what I learned about purchasing discounted gift cards:

Want to change your gifting ritual? Propose changes at Thanksgiving

Every year I write about creating a holiday spending plan. And it IS a good subject. The bottom line is that if you create a plan- list out who you are going to gift, your ideas, and the cost, and then add it up, it becomes a great roadmap for the holidays—you have less stress and more money. So here is my link to last year’s post. (How to create a Holiday Spending Plan post.)

This year I want to ask a question– is it time to do something different? The holidays are a huge “production” for many people. And it can be quite expensive, from decorating and travel to holiday outings and gifts. Many families have rituals around gift giving that haven’t changed in years. And people do need time to think about changing a ritual or tradition. So I submit to you that Thanksgiving may be a great time to bring up potential changes with your family.

You can have anything you want…

Often, when clients come to see me, they are afraid I will tell them they can’t afford to have something they really want. They fear that they won’t be able to take that vacation to Europe or perhaps they shouldn’t be buying so many clothes.

Now, as a money coach, I’m used to people projecting their hopes and fears on to me. And we navigate as best we can. One of my biggest aims is to bring people to the place where they are not only conscious about what they spend, but they are happy with their spending. Yes, this really is possible!

Like many things, it is about balancing. Yes, I want to save for my safety net. And yes, I want to go to Europe. I love the idea of paying down my credit card, and I love the Nordstrom’s half yearly sale.

Holiday Shopping Saving Tips

I know you don’t want to hear this, but Christmas is less than 75 days away. It will be here in a blink of any eye. Right now is a great time to sit down to create a plan for your holiday gift shopping without accumulating a pile of debt.

If you have been buying gifts throughout the year and tucking them away it’s time to pull out the gifts.
If you don’t check out what you’ve already bought, you may end up buying another gift you don’t need. Next, make a list of the people you plan to buy gifts for this year and check it twice. Review the list to determine who should really be on the list. Include a dollar amount for each person. Next, total the amount and if it’s unrealistic, review and revise your list.

Now, that you’ve made your list, use cash, check, or debit card. Another option is layaway which is being offered at stores including Wal-Mart, Kmart, Best Buy, Toys r Us and T J Maxx. Don’t use your credit cards unless you pay it off each month. Leave your credit cards at home or lock them up in your safe deposit box. It’s easy to get caught up in the joy of the moment and when we run out of cash, we just say, “charge it”.