Tips for stress-free banking
If you are feeling overwhelmed by stress, you are not alone; it’s practically a fact of life at the moment and everyone feels stressed from time to time. It is important that stress is addressed so that it doesn’t overwhelm us and start to take a toll on our mental and physical wellbeing. There are things we can all do to reduce stress levels, it may be seeking support, taking time for some self-care or creating an action plan and breaking the stressful problem into manageable chunks.
Recent findings revealed that finances and money are the biggest cause of stress for adults, with over a quarter of adults feeling stressed about finances every single day.
The GuardianCard team have put together a few tips on how to stay in control of your finances and keep financial stress at a minimum. We hope that these tips will help you break your concerns into manageable chunks.
- Be open with your partner or your family about your finances
Discussing family finances can be hard, but it could set you up for greater financial success in the future, additionally if you are able to turn to family for support it will take a huge weight off your shoulders.
- Don’t leave it until the last minute to think about your finances
Don’t be on the back foot, take preventative measures to avoid money stress altogether. Keep an eye on your finances, set aside savings for a rainy day and always check your bank statements.
- Make sure you know where you are financially
You may think that checking your balances regularly could cause additional stress but if you know what you have in what account then you can make better, more informed decisions.
- Prioritise your outgoing bills
Set your bills or outgoings to be paid by Direct Debit or standing order, it means you won’t accidentally miss the payments and incur bank charges. Another good tip is to ensure payments all go out early in the month so that you ensure you have the money in your account and won’t eat into any overdraft arrangement..
- Know your monthly budget
When keeping control of your finances, it’s important to know where your money goes. Go through your statements, cancel unnecessary bills, work out your incoming and outgoings, this will help you budget with what you need and to put some money away for savings.
- Save where you can
It doesn’t have to be lots, but having a little pot of savings will provide you with some reassurance that you are prepared for any of life’s emergencies. Having some money aside for if the boiler goes, an unexpected vet bill or new tyres, this pot will mean it isn’t an added stress.
- Open a GuardianCard account
Opening a GuardianCard account can help you manage your money in a number of ways. Think of the GuardianCard account as a wallet or purse. You put the funds you need into the account on a weekly or monthly basis, by standing order, from your bank account and then use your GuardianCard as you would any other credit or debit card. The great thing is, you can’t overspend on your GuardianCard and with our real-time notifications, you know exactly where you are with your money.
- Use technology and make the most of your banking app
The GuardianCard app allows you to easily access and manage your account 24/7, all at the touch of a button. You can check your balance and your bills anytime, anywhere. We will also send you real-time alerts when there is activity on your account so you’re always in the know about what is going on with your money.
- Don’t compare yourself to others
This is easily the most important tip to take away, it’s a habit that many of us have and don’t even realize. Our advice is to make and follow your own path, continue to do what works for you.