3 causes of money problems

Postdate: 27 June 2017

A reason to (temporarily) be absent from work can be money problems that cause stress, lack of sleep, productivity and motivation. It is often a hidden reason, but not of less importance. Be aware of the causes in order to undertake focussed steps.

Fixed expenses
Your finances form a big part of your personal wellbeing. It influences your work, your personal relations and free time. However, it can happen to anyone even temporarily that they have problems on this area. Think about unexpected high care costs and high fixed expenses that need to be paid. Solutions are not always easy to find, or have only effect on the long term.

Personal lifestyle
The way you live determines your expenditures. Appearances, like clothes, shoes, type of car, house and hobbies determine for a big part who you are and your social life. It gives you a status you are familiar with. It can have a great impact when you cannot afford it any longer. You have to adjust your lifestyle and bring sacrifices, which can cause a feeling of stress and loss of control on the short term. On the long term (> 6 months) you often see a turn: less material issues, and more control, which causes a decrease in stress. Buying a lot can also be linked to an emotion. Frustration, dissatisfaction, sadness and stress give you the idea ‘to deserve it.’ Here you try to mask or compensate the negative emotions. Because it works very short, you need to buy more and more, which only increases your financial problems.

External factors
Money problems do not have to be caused by fixed expenditures or lifestyle. External factors like illness, theft, divorce or scams can also contribute. Having a debt can give a feeling of shame and unavoidable pressure, taking over your ability to concentrate and think. In order to get more control about your financial situation it is important that you investigate your fixed expenses and financial behaviour with someone you trust. It is often the case that you save a lot of expenses by taking small steps: think about to stop your memberships and lotteries, buying more in sale and cheaper labels in the supermarkets. Also by taking the bicycle instead of the car, and checking your insurances can save you a lot of money.

Financial problems can make work and private life overlap. This can cause a lot of stress, giving you sleepless nights and bad functioning. Absenteeism from work eventually is not a durable solution. It is therefore important to inform your employer about your money problems. A budget coach can bring a solution.

‘It’s not the money that matters, it’s how you use it that determines its true value’

causes     money problems     stress     wellbeing    


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