How to take the stress out of making financial decisions

*Contains affiliate links

Can you believe how quickly we are getting through this year and I think most people are starting to look ahead to those big yearly events such as Christmas and while it's an enjoyable time of the year it can also be quite exhausting and trying when it comes to the mounting cost.

When it comes to making important financial decisions, it can feel a lot easier to bury your head instead of facing them head-on. It’s hard to imagine the future possible outcomes, and it can often feel overwhelmingly stressful. I wasn't always very good with saving but since having children that has changed and I feel it's an on-going learning experience. In order to make this process a little bit less daunting for you, I have provided some advice on how to minimise stress when faced with a big financial decision.

Get advice from those closest to you

They say that a problem shared is a problem halved, so when you’re facing difficulty, it’s very important that you turn to those closest to you to ask for their advice. Whether you simply want someone to listen, or would value their opinion, by simply talking to someone about your worries, they can sometimes become a lot more straightforward to deal with. Invite a friend over for dinner, or go on a long walk with your other half — you’ll feel a lot more at ease once you’ve got everything off your chest. 

Make one financial decision at a time

When your feeling overwhelmed it's important to attack one problem at a time instead of trying to do it all at once. Write down everything you want to achieve and ways to reduce your out-goings and tick them off as you go along but stay on a clear plan.

Do your research thoroughly

Before making that important financial decision, make sure you understand everything it entails. For example, have you been provided with all of the necessary information from the bank? Have you done your research? Have you made a solid plan? Only commit to something when you have full understanding.

Think about the impact of the different options you could make

While your decision may positively impact your short-term future, have you thought more long-term, too? While you may have made a financial plan, be prepared to be flexible and change it if and when it’s not working.

Scribble down your thoughts

It’s easy to let the strain take over when it comes to making such decisions. However, it’s important that you take a step back to ensure that you don’t do any damage to your health. Why not write down all the pros and cons that come with these all-important decisions? By scribbling everything down, you’ll be able to clear your mind, organise your thoughts, and work towards your goals.

Ensure that you make the right financial choice for you by following our advice above. Start your checklist now, and remind yourself that you don’t have to be at your best all of the time.

I have written before about having to save for a family holiday and how to be a better saver which may offer up some other ideas and if you're having real financial stress it's important to check out the Money Advice Service.