Financial worries, economic pressure and uncertain future prospects generate financial stress. Stress as a permanent condition makes you ill and can lead to considerable physical and psychological consequences for those affected and their employers!
According to a 2016 study (TK Stress Study, 2016), 19% of respondents cite financial concerns as one of the main causes of stress; 22% women and 17% men.
Everything has become more expensive and revenues have seldom kept pace with the rapid development of spending. “Can I still afford it?”, “Can I pay all my bills?”, “What’s next?“. Really experienced cost pressure, increasing indebtedness, lack of financial know-how, lack of overview and too few reserves lead many to latent fears of the future and to economic stress with frequent physical and physical problems.
It is difficult to get normal performance under pressure. For many it seems to be impossible to meet the increased demands of the fast-paced digital world and workplaces. One reacts unfocused, is easily excitable, appointments are not kept, the quality suffers, and the body reacts with illness or even burnout.
The economic damage for companies and for the national economy is enormous. The use of business telephones, fax or Internet to solve acute private financial problems or to negotiate with the creditors is one of the minor problems. Deteriorated working hours, poor work performance, staff shortages, additional time by training new employees or often impossible to adequately recruiting qualified specialists represent enormous cost factors and lead to considerable productivity losses.
A raise or, if necessary, an advance may help alleviate acute problems in the short term, but rarely offer long term solutions. It is important practice-oriented, basic financial knowledge to qualify for self-reliance and self-help and thus reduce financial stress sustainably.
Of great importance are:
-Overview of the current economic situation
– Realistic assessment of the possibilities of action
– Mirror to own spending behavior
– Assistance in dealing with creditors and debts
– Start saving immediately to build reserves for the next financial challenges
3 false illusions about debts
1. Debts are bad luck, fate, bad karma, wrong place wrong time, ..
2. That problem will someone else solve for me.
3. There is a trick or a clever financial expert, who solves the unpleasant problem quite elegantly. I just have to be patient until I find him.