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Approximately 17% worry often once or twice per week about the security of their money.
And 15% of respondents admitted worrying aboutmoneysafety more than twice weekly.
Worrying can lead to anxiety, and frequent anxiety can result in a whole host of other problems.
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A well-diversified portfolio is less likely to be wiped out by a single market event.
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Solution: Focus on Long-Term Goals
Remind yourself that investing is a long-term game, he suggested.
Short-term market fluctuationsare normal, and focusing on long-term objectives can help reduce anxiety.
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Knowledge can empower you to make informed decisions with more confidence.
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Meyer also said that, sometimes, just talking through your concerns with a professional can help.
While money might be the trigger, the underlying response is anxiety, she said.
Managing anxiety is all about managing your nervous system your attachments to money and how it makes you feel.
By understanding when and why we enter a worry cycle, we can break free from it.
You dont need to eliminate all worry about money some worry shows you care about your financial future.
Whats important is being aware of how, why and when you feel anxious.
Understand these feelings and use that insight to manage them more effectively.
Cole offered these additional tips to help deal with money worries.
1.Know your numbers.Cole suggested creating a mini budget to trackincome, expenses and remaining funds.
2.Create an action plan.Think big, then get small, said Cole.
Baby steps add up.
3.Eliminate debt.Ugh, the D-word, Cole said.
Everyone hides it, but everyone has dealt with it at some point.
Write it all out.
There is power in knowing.
5.Build your nest egg.Itll take years to hit that million-dollar goal, but its doable, Cole said.
Start small, start now.
Your future self will thank you.
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