stress

6 Ways Living Alone Affects Your Health

Paul Michael — Wed, 09 May 2018 08:00:25 +0000

Some people love living with others. They like having family or roommates, and a home that's occupied by more than one person. Other people prefer their own space, and maybe that's who you are. You like the solitude. You love the freedom. But living this way can be both beneficial and hazardous to your health.

1. You can be yourself

Anyone who has lived with roommates knows it's tough to be completely yourself. Differing opinions on everything from politics and food, to movies and music, means that compromise is a must. In a marriage or other living arrangement, it's much the same. You both have to make compromises to keep the other person from getting peeved.

But when you live alone, all bets are off. Want to decorate the living room to look like the set of Star Wars? Go ahead. Want wooden floors throughout? Do it. Want to replace the sofa with a bunch of giant bean bags? Your call.

This kind of freedom is incredibly beneficial to your mental health. There's no stress about keeping someone else happy. And less stress leads to better overall health. (See also: 20 Free (or Really Cheap) Ways to Relieve Stress)

2. It's easier to create healthy habits

With no one else in sharing your space, there are fewer distractions and excuses keeping you from getting into healthier routines. If you decide to eat healthier, it's hard to stick to that regimen when someone in the house is eating doughnuts and cooking bacon. Or if you have a partner who doesn't want to work out with you, it can be tough to find the time to get away for a sweat session on your own. Living alone gives you the freedom to work out on your own schedule, and stock your fridge with nothing but non-processed and fresh foods. (See also: 25 Low-Cost Foods Packed With Nutrition)

3. You sleep better

If you're actually sleeping next to someone in the same bed, your nights will not be as restful as if you were sleeping alone. The other person is going to move around, make noises, and ultimately crowd your space. Even though you may not feel like you're waking up, your body and mind can be constantly getting stimuli that stop you from entering the most important part of the sleep cycle — deep sleep. This stage (three in a series of four) occurs just before Rapid Eye Movement (REM) sleep, with your brain and body activity dropping to the lowest point, and blood being redirected from the brain to the muscles. If you don't ever make it to this stage due to the constant interruptions, you won't feel as rested when you wake up.

Even if you aren't actually sharing a bed with your housemate, you can still be disturbed from your slumber. Loud roommates can rob you of precious sleep, too, which can lead to lower productivity at work, increased stress, and poor eating habits. (See also: How Getting More Sleep Helps Your Finances)

4. You can feel isolated to the point of depression

At first, the idea of living alone can be glorious. No rules but your own. No noise from anyone else. No messes to clean that other people left behind. It's all you, baby. But then it can hit you like a hammer; it's all you. No one to talk to about your day. No one to watch TV with. No one to cook for, and enjoy a meal with. And for some, this realization can lead to feelings of loneliness.

Studies have linked loneliness to low self-esteem, depression, high blood pressure, and the increased risk of dementia in later years. Humans are naturally social creatures, and we need some interaction to feel balanced. Without it, life can start to look bleak.

5. You have to do everything yourself

Need help bringing in the groceries? You're on your own. Need a hand shoveling the driveway? You're on your own. Need someone to steady that ladder? You're on your own. And on it goes. Living alone means you have to rely on yourself for almost everything. Sure, you can ask a friend or a neighbor now and again, but you certainly can't abuse that privilege. You could also hire a TaskRabbit or pay to have someone else run all your errands and outsource your housework, but few have the money to afford that. That can bring physical stresses and challenges that take their toll on your body. From backbreaking work in the garden, to painting, lifting, moving furniture, and cleaning, your health can take a beating when you do everything yourself.

6. You're not as safe

There are numerous ways that living alone can affect your safety. When you're sick, there's no one there to take care of you or check on your well-being. You may not even have the ability to call someone for help, especially if you fall or have a serious medical problem. And when you're alone, you'll also have to defend yourself alone against intruders. For this reason, it's recommended that anyone living alone should take extra steps to secure their safety. Strong deadbolts, motion-sensing lights, and an alarm system can help provide a little more peace of mind.

Like this article? Pin it!

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Budget During a Crisis

Rachel Slifka — Tue, 17 Apr 2018 08:00:07 +0000

When circumstances are normal, budgeting really isn't that difficult. For the most part, you can predict your expenses, income, and your day-to-day activities with relative ease. But what happens when an emergency comes up and threatens to ruin everything, including your finances?

Maybe you or a spouse lost a job, or a major medical situation is costing you a lot of time, concern, and money. How can you continue to budget when your circumstances aren't regular?

Remain calm

After a crisis, dread and fear can quickly set in. You may even be afraid to open the mail for fear of yet another bill. It can feel like the world is collapsing in on you, and rational thought goes out the window. Through all of the stress, remember that this crisis is temporary; you can and will get through this in due time.

Panic might be your natural reaction, but it isn't helpful in moving forward. Acknowledge your feelings, but try to remain as calm and levelheaded as possible.

Prioritize expenses

What bills do you need to pay immediately? Many types of debt, including your mortgage, auto loan, and credit cards won't be officially reported as late until they are more than 30 days past due. Are there bills that are approaching or past that time frame? Do you have enough income to cover all that you owe?

If you aren't sure that you can pay all your bills, you have a couple of options. The worst thing you can do is to simply stop paying. That will only get you further behind and you risk racking up a mountain of overdraft and late fees, not to mention the potential blow to your credit.

One option is to call the company behind each of your debts, explain your situation, and ask if you can get an extension or work with them to develop a payment plan. You will need to go back to your bills and prioritize them with any updated information and due dates. Pay the most urgent bills first. (See also: Pay These 6 Bills First When Money Is Tight)

If you still are coming up short, you will need to find a way to drastically cut your costs. Are there bills you can lower or cut out entirely? Start with the unnecessary expenses. Things like entertainment and dining out should come to a halt. Canceling subscription services such as magazines, gym memberships, and cable can put hundreds back in your pocket. Next, see what necessities you can lower. Find ways to shave dollars off your costs for gas, groceries, utilities, and more until your crisis has been dealt with. (See also: Are You Spending Too Much on "Normal" Expenses?)

Check in with your finances daily

Until your financial situation is under control, make it a point to check in with your money every day. Review all of your bank accounts, credit card balances, bills, budget, and know when your income is available. It's easy to get distracted and disorganized during a crisis, and that will only make your money matters worse. Overdraft or late fees can quickly pile up if you aren't diligent.

Know what to avoid

In a crisis, you may not know where to turn. By far, the worst resources you can turn to are credit cards or payday loans.

Credit card debt is very easy to get into. Getting out of credit card debt can take you years, especially on the heels of a financial crisis. Using credit cards during an emergency should be a last-resort option when you have no other choice. Prioritize repaying that debt ASAP once your crisis has been handled.

Payday lenders, meanwhile, deliberately target people in desperate situations. Believing they have no alternatives, people turn to these loans and rack up staggering amounts of debt at exorbitant interest rates. This practice of predatory lending leaves many people worse off than they were before. Avoid using these types of services at all costs.

Create a plan to protect your finances in the future

Digging yourself out of a financial hole will take time, but with persistence and smart money moves, it is absolutely possible. Once you are back on your feet, it's time to take action to ensure the next financial crisis doesn't land you back in the same hole.

Start by prioritizing building an emergency fund so that you are protected to weather another financial storm. Many experts recommend saving between three and six months' worth of everyday living expenses in this fund. With that cushion in place, another job loss, medical emergency, or other major financial blow won't be as devastating. (See also: 5 Ways to Boost Your Financial Resilience)

Like this article? Pin it!

This article is from Rachel Slifka of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Manage Two Jobs (Without Burning Out)

Paul Michael — Wed, 14 Mar 2018 09:31:18 +0000

Many households these days have two incomes. The thing is, it's not uncommon for those two income streams to come from the same person.

If you're in that boat — working two jobs that eat up most (or all) of your time — you could be headed for burnout. When that happens, your risk your health, your mental wellbeing, and losing the money those jobs provide. Here are some tips to bring back some balance and stability to your hectic schedule.

You must make time for yourself

Just as it's important to put away a little money each month for your savings, it's equally important to tuck away some personal time as well. You may be thinking that there aren't enough hours in the day, but all work and no play is a recipe for serious burnout. When that happens, you could lose one or both of those jobs you depend on.

Even if you just take your lunch outside and eat it in the sunshine, away from the hustle and bustle, that small act of getting a breather can really cheer you up. Ideally, you should set aside time away from both jobs so that you can destress naturally. See a movie, hang out with friends for a few hours, take a hike, ride a bike, soak in the tub, or take up a fun hobby. If you don't make some time to yourself, you are going to suffer. (See also: 4 Signs You're Burned Out (and How to Recover))

Treat yourself when you can

If you are constantly working to pay bills and nothing else, you're living to work. That's no kind of existence. By working night and day on two or more jobs, but not seeing any of that hard work result in some kind of happiness, you'll resent it so much that you could have a breakdown.

So, spend a little of that money on something that makes you genuinely happy. You don't have to run out and buy a Louis Vuitton watch or a pair of Gucci shoes. Something small and inexpensive, but wonderful for you and your state of mind, is all that you need. Maybe it's a massage or a manicure. It could be a treat from the local candy store, or a special delicacy you enjoy. You put tremendous effort and sacrifice into earning a living — you deserve to enjoy those earnings once in a while. (See also: Treat Yourself With These 7 Free Self-Care Routines)

Think positive

Easier said than done, right? After all, what's fun about working two jobs just to make ends meet? Having said that, this is the reality you're living with. You can either do two jobs feeling miserable and hating life, or approach it with a positive state of mind.

One of the easiest ways to do this is to keep a daily list of the good things that happened to you that day. Even if it's as simple as, "Today I paid all my bills and did not get charged a late fee," it's something that lifts you up. Are you healthy? Is your family happy and doing well? Are you doing a job that is way better than other ones out there? Remember, many people are paid awful wages and cannot afford some of life's basics. In comparison, are you thriving? Find the good and write it down.

Release the pressure

Just like a pressure cooker, if you don't let off steam, you could blow. Now, how you do that will depend on what motivates you. Some people release all that pressure by working out, which is very beneficial to your health. Others party hard every Friday night. You could even take up boxing, or buy a punching bag and beat the living daylights out of it. Scream into a pillow if you have to, or find a friend to help you share your problems.

You could also think about seeing a therapist if you can afford it. Many insurance plans offer mental health copays as low as $20. Talking it out with an objective third party can be a great way to cope with the two job burden. (See also: 10 Tricks to Avoid Workout Burnout)

Do whatever you can to make the jobs enjoyable

Again, this is not always easy. Some jobs really are awful, and that is difficult to ignore on the best of days. But if you can find ways to make either job even a little more tolerable, you'll find it easier to juggle them both.

Can you play fun games with colleagues while you're working? For example, many copywriters in ad agencies will take bets on who can put the most ridiculous word or phrase into a piece of copy that actually gets approved. Are there challenges you can set yourself? Records you can break? Tasks that, with a slight tweak, can be made interesting, or even fun? Your job, or jobs, may suck, but a slight paradigm shift could make them much easier to tolerate.

Finally, keep your house in order

It sucks to think about housework and chores when you're busy, but it's even worse to come home to a messy house with a sink full of dishes and piles of laundry everywhere. Working two jobs gives you even less time to spend cleaning and tidying, which is a little ironic as a tidy home is essential when you're always working.

Make a schedule and stick to it. Create a task list in order of importance and focus on that. Do tidying "as you go," such as washing kitchen utensils as you're making the meal. If you live with other people, get everyone in the habit of cleaning their own plate, and get everyone to do their share. Kids are not helpless; they can certainly be helping clean up long before they are 10 years old. You can reward them with time in front of the TV, computer, or video game system if you have one. By keeping a clean house, you can actually come home and relax after a very busy and stressful day.

Like this article? Pin it!

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Creative Ways to Relieve Stress During Tax Season

Emily Guy Birken — Mon, 26 Feb 2018 09:00:06 +0000

Tax season is upon us, which means millions of Americans will be stressing out about filing their IRS forms correctly and whether they will receive a refund this year.

But just because getting ready for Tax Day can be emotionally taxing (see what I did there?) doesn't mean it has to be. In fact, you can find fun ways to de-stress while preparing your taxes and waiting on your refund check. Here are five ways to let off some steam this tax season. (See also: 6 Moves You Should Make Now for Your 2018 Taxes)

1. Have a tax-themed movie marathon

Watching movies is a time-honored way of getting out of your own head for a little while. If you choose comedies to watch, you'll reap even more stress-relief benefits as laughter releases neuropeptides that help fight stress and cause the body to release its own painkillers. Put that together and it's clear that a tax-themed comedy movie marathon could be just ticket to feeling less overwhelmed by tax season.

Can't think of any tax-themed comedies? There's a surprisingly large number of films that fit the bill:

Stranger Than Fiction features Will Farrell as a tax auditor who discovers that he is actually a fictional character in a famous author's book.

The Blues Brothers kick off their mission from the big man upstairs when they learn the orphanage where they were raised owes $5,000 in back taxes and will have to close if they can't pay the IRS.

Happy Gilmore begins with the title character's grandmother owing $270,000 in back taxes. High jinks ensue as Gilmore (played by Adam Sandler) realizes his ice hockey skills make him an excellent golfer.

The Producers shows what happens when a Broadway producer and his accountant realize they can keep all of their investors' money if they intentionally produce a flop. This tax fraud is a major problem when their flop turns out to be a smash hit.

2. Write a profane limerick about paying taxes

While simply shouting "You forking IRS buttheads!!" (or something a little more profane) each time you get frustrated filling out your 1040 form will certainly help you to relieve your tax-related stress, taking the time to really savor the profanities you'd like to spout about your annoyance can make this even more fun. Plus, expressing your feelings verbally allows you to blow off steam and release those feelings so they aren't stuck in your mind.

Limericks are traditionally both profane and funny, and you can challenge your friends to each come up with their own tax limericks. Whoever comes up with the funniest or most foul-mouthed poem wins.

3. Dance it out

There are a surprising number of tax-related songs out there, which means having a tax dance party would be brilliant way to dance your stress away. Not only does dancing get your heart rate up, which is an immediate mood booster, but cutting a rug to the following songs can remind you that tax woes are so universal that even famous musicians have to deal with them. (See also: These 7 Exercises Are Scientifically Proven to Increase Happiness)

"Taxman" by The Beatles
"Mo Money Mo Problems" by The Notorious B.I.G.
"Sunny Afternoon" by The Kinks
"Movin' Out" by Billy Joel
"Money" by Pink Floyd

4. Host a potluck

Socializing is an important part of reducing stress, and if you're worried about money because your tax bill is about to be due, hosting a potluck can be a great way to spend time with friends without emptying your wallet, or theirs. Each person can be assigned a dish, or bring desserts or beverages, and you can collectively commiserate over how you all wish you could stick it to The Man. (See also: Throw an Awesome Potluck Dinner With These 6 Easy Tricks)

5. Use extra IRS forms to make papier-mâché

Tax time is an ideal opportunity to get back in touch with your artistic side, and if you can use some of the infuriatingly complex tax forms to create your work of art, all the better. Creating a papier-mâché bowl or vase out of your excess IRS forms can feel immensely satisfying while also relieving your tax-related stress.

If it's been awhile since you last made papier-mâché, don't worry. It's easy! Gather together your excess IRS forms, as well as some extra newspaper or other scrap paper to make sure you have enough paper for your project. Find a large plastic bottle or other large base for your papier-mâché project. Tear or cut the paper into one-inch wide strips. Mix one part water to three parts white glue. Dip your paper strips in the glue mixture, and start layering those bad boys on your base, placing no more than four layers of paper at any spot.

Let it dry completely, pull the papier-mâché shell from the base, and start painting it however you like. Consider painting the words "I survived filing my taxes!" across it and making it as a keepsake of this year's tax season.

Like this article? Pin it!

This article is from Emily Guy Birken of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

5 Reasons a Big Paycheck Is Not Worth Staying in a Job You Hate

Denise Hill — Fri, 09 Feb 2018 09:30:09 +0000

Life is a journey filled with conundrums. An unwritten rule of thumb is that in order to gain something, you have to give up something. And the place this truism is experienced the most is in the area of finances.

One of the biggest dilemmas people face at some point in life is should you sacrifice quality of life and personal happiness for money? And if so, for how long?

Working a job you hate to gain financial independence is a sacrifice worth considering. However, before you sell your soul and doom yourself to a life of misery for the almighty dollar, here are a few reasons that choosing a paycheck over passion may not be worth it.

1. Purpose trumps paper

Millennials are thought to be idealistic dream chasers. McGraw-Hill Education conducted a 2014 study called The Grad Gap, and found that 73 percent of graduating college students value finding a job that allows them to do what they love over a job that pays well. They also found that 45 percent of students prefer a job that benefits society over a job that pays a high salary.

And while millennials may be starry-eyed idealists, they may be onto something when it comes to living a fulfilled life. Having a purpose not steeped in materialism is the key to true prosperity. Financial independence is a noble goal, but the sum total of your life has to be about more than being able to retire comfortably. Who did you help? How did you make the world better? If you died penniless but profoundly impacted the lives of those around you, would you count your life a success or a failure? Financial independence is important, but is it the most important thing?

2. Money can't buy happiness

"Money can't buy happiness." So cliché, yet so true. Meaningful work helps to motivate, challenge, and fulfill you more than money does. According to renowned psychologist Frederick Herzberg — author of The Motivation to Work — people seek gratification based on higher-level psychological needs such as achievement, recognition, responsibility, advancement, and the nature of the work itself. Things such as pay raises, working conditions, and job security are secondary.

Once you have enough money and all of your needs and some of your wants are met, an incremental pay increase loses its motivational force. Loving what you do (or at least not hating it) is what makes you happy. Working a job you loathe and perpetually chasing the dollar will make you far unhappier than wearing secondhand clothes and driving a hooptie. (See also: 4 Money Lessons You Can Learn From the Joneses)

3. Earning a high wage is not the only path to financial independence

A misconception connected to the dilemma of staying in or quitting a dreadful job is that you can't maintain financial freedom if you take a pay cut. That simply isn't true. Earning a high wage will get to your goal quicker, but at what cost?

Financial independence isn't gained or sustained by earning a good wage. What if you lose your job, encounter an expensive health crisis, or have to provide long-term care for a friend or family member? Your ability to become and remain financially independent is determined by your ability to use what you have wisely. It's linked to your capacity to live frugally, cut costs, and use creativity and ingenuity to solve financial challenges. Your financial independence lies in your aptitude for working smarter, not harder.

4. Your mental health is affected

Going to a job you hate, day in and day out, slowly transforms you into a different person. Your mental health suffers. Countless studies show that workplace stress can lead to depression and anxiety. A 2011 BMJ Publishing Group study even found that being unemployed can be better for your mental health than having a job you hate.

Staying in a negative environment saps your strength, drive, and ambition. And all that negativity affects your relationships. It can lead you to lash out and mistreat your loved ones, or it can cause you to withdraw. You miss important moments and find yourself riddled with guilt because even when you are physically present, you are emotionally absent.

A bad job is akin to being in a toxic relationship. If your best friend were in a relationship where they were being taken advantage of, mistreated, and unappreciated, you would encourage them to value themselves and leave. That advice is apropos for you in a terrible job, too. (See also: 8 Signs You Should Quit Your Job)

5. It can kill you

Staying in a job you hate drastically diminishes your health. Research shows that continuous amounts of stress can compromise your immune system and make you more susceptible to cancer, Type 2 diabetes, heart disease, and stroke. High-stress work environments also cause sleep deprivation, weight gain, brain fog, and can exacerbate mental illness.

In a 2015 study, a research team from Harvard Business School and Stanford University measured harmful workplace conditions' influence on life expectancy. The study found that stressful workplaces make it more likely for workers to die earlier than those in jobs they love. The study found that working a stressful job that you hate can shave years off your life. Let that sink in: Is higher pay worth a shorter life?

Develop an exit strategy and quit

If you hate your job, feel stressed, depressed, and grossly unhappy, it's time to act. Develop an exit plan. Set a date to quit and begin working toward that goal. Get more training, find an internship, and begin networking with people in the industry where you desire to work. As you begin your career search, you should also start scaling back financially and lower your cost of living.

Save as much money as possible while aggressively paying down any consumer debt you have. Be willing to accept less pay and work a side gig to help cover the loss. Be intentional about changing your work situation, and see it through. Your wellbeing depends on it.

Like this article? Pin it!

This article is from Denise Hill of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Ask the Readers: How Do You Deal With Stress?

Ashley Jacobs — Tue, 30 Jan 2018 09:30:05 +0000

Editor's Note: Congratulations to Mary, Cedric, and Brenda for winning this week's contest!

Everyone gets stressed sometimes, but no one deals with stress in exactly the same way. What works for one person may not be as helpful for another.

How do you deal with stress? Are there certain activities or places that are especially calming for you? What tends to stress you out?

Tell us how you deal with stress and we'll enter you in a drawing to win a $20 Amazon Gift Card!

Win 1 of 3 $20 Amazon Gift Cards

We're doing three giveaways — here's how you can win:

Follow us on Twitter
Follow our Executive Editor Janet Alvarez on Twitter
Tweet about our giveaway for an entry.
Visit our Facebook page for an entry.

Use our Rafflecopter widget for your chance to win one of three Amazon Gift Cards:

a Rafflecopter giveaway

Giveaway Rules:

Contest ends Monday, February 5th at 11:59 p.m. Pacific. Winners will be announced after February 5th on the original post. Winners will also be contacted via email.
This promotion is in no way sponsored, endorsed or administered, or associated with Facebook or Twitter.
You must be 18 and U.S. resident to enter. Void where prohibited.

Good Luck!

Tell us how you deal with stress and we'll enter you in a drawing to win a $20 Amazon Gift Card!

This article is from Ashley Jacobs of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Stuck at the Airport? Relax With These 14 Easy Self-Care Tricks

Max Wong — Thu, 09 Nov 2017 08:30:17 +0000

You're stuck at the airport. You're stressed. You're worried about being late to your destination. You're tired. What can you do to chill out on the spot?

Luckily, you can make self-care your top priority wherever you are. You don't need a yoga mat, a dark room, and tons of lit candles around you in order to remain relaxed. Just follow these tips and you'll keep stress from ruining your trip. (See also: 7 Ways to Stay Calm in Stressful Moments)

1. Breathe deeply

Even if you're stuck standing in line with a pile of luggage, you still have enough room to take a deep breath. In addition to easing anxiety, deep breathing stabilizes blood pressure, and slows the heartbeat.

One of the fundamentals of yoga (which was created as a method of relaxing the mind for meditation) is abdominal breathing, or diaphragmatic breathing. If you have never stepped inside of a yoga studio, don't fret. There are apps for this. Breathe is a default breathing app for the Apple watch and iPhone, but Universal Breathing and Breathing Zone also have many fans. (See also: 14 Smartphone Apps That Make Self-Care a Snap)

2. Meditate

If you're already in the habit of breathing deeply, you might as well work on your meditation skills, too. Although relaxation is not actually the goal of meditation, it's often a happy side effect of the practice, along with reduced stress, lower blood pressure, and better circulation. Really, the goal of meditation is to stay in the present moment. There are many types of meditation, so choose one that feels comfortable to you.

3. Wash your hands

Actually, washing any part of your body in warm water will calm your nerves and muscles. But washing your hands with soap has the added benefit of killing germs that can make you sick. Planes, with their recycled air and filthy buttons, are flying disease factories.

4. Eat a healthy snack

Airports are of full of junk food. A sugary snack might provide a quick pick-me-up, but the resulting sugar crash will not improve your mood. Seek out fresh, raw fruits, veggies, and proteins from the newsstand or sandwich shop in your terminal. (See also: Eat These 6 Foods to Stay Healthy While Traveling)

5. Fidget

Knit. Twirl your fidget spinner. Try to peel an orange in one long spiral-shaped piece. Try your hand at tying nautical knots with a loose string on your coat. Lace your shoes in new and dramatic ways. Busy fingers will quiet a busy mind.

6. Clean out your purse or your inbox

Yeah, you should have done this before you left home, but now is the perfect time to remove all the old gum wrappers, random pen caps, and other assorted junk that is literally weighing you down from your bag.

And once you're done with that, head over to your inbox and start deleting. Seeing that unread number go down within minutes will put your mind at ease, leaving your digital space much tidier. (See also: 5 Easy Ways to Declutter Your Digital Life)

7. Move around

If the idea of doing stretches on the airport carpet grosses you out, there are many modified yoga poses, and other quick workouts you can do from the comfort (or discomfort) of your seat at the airport or even on the plane. Even a short lap around the terminal can put more pep in your step. (See also: 10 No-Sweat Workouts Perfect for the Workplace)

8. Imagine paradise

You might be on a layover from hell, but you can use creative visualization to take a fabulous vacation inside your head. Imagine yourself at your dream location. What are you doing? What music is playing in the background? What are you wearing? What delicious things are you going to order for dinner? Who are you traveling with? Since it's all in your head, nothing is too outrageous or silly.

In addition to stress relief, creative visualization in a powerful training tool for your mind. It can help you solve problems by getting you to think outside of the box. There's a reason why everyone from professional athletes to artists use this brain hack to reach their goals. It works.

9. Laugh out loud

Laughter is the best medicine. OK, maybe not the best, compared to actual medicine. But it's certainly one of the best free ways to manage stress. So watch a funny movie, trade jokes with the person sitting next to you, or simply think of your most hilarious memory. Even if you can't release a giggle, the simple act of smiling can reduce stress.

10. Do a little journaling

Yes, keeping a gratitude journal does sound like something that your new-age aunt would recommend. But Auntie is right! A study out of Stanford University found that keeping a gratitude journal can reduce stress by 27 percent. Research subjects at Yale reported that that a keeping a gratitude journal resulted in higher alertness, determination, and energy. So put pen to paper and record all the reasons your life is good.

11. Unplug

Study after study has shown that unplugging from the phone and other devices is a quick way to reboot the brain. Hyper-connectivity takes a toll on people, psychologically and physically. Also, light-emitting devices like smartphones, e-readers, and tablets have been shown to negatively affect circadian timing. If you are trying to use your flying time to get some rest or combat jet lag, avoid looking at your devices before you go to sleep. (See also: How to Fall Asleep When You Can't)

12. Hug your loved ones

Hugging releases oxytocin, a stress-busting hormone, into the bloodstream. In addition to lowering blood pressure and anxiety, getting hugged improves pain tolerance, and boosts immunity. In a 2014 study, researchers from Carnegie Mellon University found that hugging protects people who are under stress from the increased risk of colds.

But hugging doesn't just help humans feel better. If you are traveling with an animal, petting has been shown to give similar benefits to both the person giving the pets and the animal receiving the pets. (See also: 23 Tips for Traveling With Pets)

13. Call a friend

Loneliness is a killer. If you are feeling disconnected, call someone, even if it's just to say hello. They will most likely be delighted to hear from you, and you'll kill some time while the two of you catch up. If none of your friends are available to chat, give your parents a call. Your mother would love for you to call her more often anyway.

14. Take a nap

This seems obvious. However, many people are afraid to nap at airports for security and scheduling reasons. As someone who sleeps in airports, and as a money and time saver, here is my three-step solution:

Secure your luggage.
To avoid oversleeping, set an alarm clock.
Write "Please wake me up at (insert time)" on sticky notes and stick those to yourself.

Now that you have my top-secret airport-sleeping trick, please go rest. You deserve it.

Like this article? Pin it!

This article is from Max Wong of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Ways to Actually Relax Over the Holidays

Sarah Winfrey — Thu, 02 Nov 2017 08:00:09 +0000

It's almost that time of year again. You know, the most wonderful time of year. Or, if you're like me, the time when you feel like you run a marathon for months and never, ever stop.

During the holiday season, it's especially important to find a way to take a breather. After all, you want to remember these days as some of the best, right? And what better way to do that than to cut the crazy, and find a way to really relax and enjoy yourself?

1. Take a breath

No, you don't have to take up meditation. But even stopping for two or three breaths when you start to feel stressed can help you recenter. I know someone who goes so far as to set alarms on her exercise tracker every two or three hours. When her wrist buzzes, she finds a place where she can take a few deep breaths. She swears it makes her healthier and happier. (See also: 7 Ways to Stay Calm in Stressful Moments)

2. Plan fewer activities

There are a million things to do over the holiday season. If you try to do them all, though, you'll discover that they stop being fun and become stressful instead. So pick a few things, maybe the ones you're most excited about or the ones you think your family will love, and do only those. If you want to do something more, there's always next year. Limiting the number of things you commit to will reduce your stress.

3. Schedule intimate gatherings

When you really want to talk to someone, there's no better way to achieve that than to plan a small, intimate holiday get-together, rather than a huge bustling party. Have a few interesting people over, offer some simple refreshments, and really get to know the people in your life. It's so much less stressful than planning a huge party! You can even do this several times, with different people, if you have a lot of friends you'd like to entertain this season.

4. Play music

Whether you love traditional holiday music or not, it's likely you can find something that is both in the holiday spirit and that reduces your stress levels. You may not want to keep it on all the time, but finding a way to incorporate holiday music into your daily life should not only get you a little more into the holiday spirit, but can also help you feel more relaxed and excited about the season. (See also: How to Choose the Best Streaming Music Service for You)

5. Shop early

Buying your holiday gifts late can be incredibly stressful. The lines are longer, there are more people to contend with, and popular gifts can be harder to find. While it takes a bit of planning and some storage space, shopping early helps you avoid all of these hectic moments. Even if you love the rush of last-minute holiday gift-buying, you can plan your lists now and buy some items that might be impossible to find later. (See also: 10 Reasons You Should Start Your Holiday Shopping Now)

6. Take some time off

Depending on your job, taking time off right around the holidays can be almost impossible. But if you have the vacation days, it's worth taking a few sometime during the season to make time to chill. If nothing else, use a couple of vacation days just to get stuff done. That way, you don't have to fit everything in around work and the rest of your hectic holiday schedule.

7. Make time to exercise

When you're running around like crazy, fitting in exercise can feel like just one more difficult thing you have to do. Since exercise reduces stress, though, it may be one of the most important things that you do this holiday season. You don't have to find time for a killer gym workout, either. A 20-30 minute walk, even on a treadmill, will do you good. Make exercise a habit during the holidays, and beat some of the stress that comes with the season.

8. Get outside

Unfortunately, one of the most stressful times of the year goes hand in hand with one of the darkest times of the year. This is important because time spent out in natural light helps the body produce vitamin D, which is key to helping us deal with stress. Whenever possible, spend a few minutes each day outside. If you can't stand the cold, take some vitamin D supplements so your body has what it needs to be able to battle stress.

Like this article? Pin it!

This article is from Sarah Winfrey of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Keep a Personal Problem From Hurting Your Career

Paul Michael — Thu, 05 Oct 2017 08:30:11 +0000

People have problems; that's just a fact of life. Most people also work for a living, and sooner or later, the two are going to collide. When a personal problem does land on your doorstep, the last thing you want to do is bring it with you to work. That can cause all sorts of additional issues, and they can compound your personal issues even more. So what do you do? How do you separate personal problems from the daily grind?

Don't talk about your problems to anyone at work

It may seem like the most obvious piece of advice, but it is the one most commonly ignored.

All too often this is the way it goes: A trusted friend tries to help you out by telling a manager why you may be off your game. From there, it becomes an issue that several people know about. And before long, half the people in the company are aware of it. It doesn't matter who you think you can trust, and what kind of confidence you swear them to, it will leak. Loose lips sink ships … and careers.

Find someone outside of work to support you

It's imperative to get emotional support at this time, and that means talking to someone completely removed from your work environment. Avoid anyone who doesn't work at your firm, but knows a lot of people that do.

This can mean going to support groups, using online forums (where you can remain anonymous but get advice), or if worst comes to worst, calling a crisis hotline such as Samaritans. Don't be afraid to ask for help, because a problem shared really is a weight lifted. Just make sure you do it in a way that cannot create another problem — namely, a career problem — on top of whatever else is troubling you.

Find helpful ways to deal with your emotions

Not talking about your problem at work can be tough, especially when people treat you poorly without knowing what you're actually going through. So, look into helpful and productive ways to deal with the emotions that can build up in the workplace.

One of the best ways to hash out emotional stress is going to the gym, especially if your office provides a workout facility on-site. Otherwise, going to the gym before and/or after work, or exercising at home, can do wonders for your emotional pressure cooker. If working out doesn't do it, find a new hobby, or really go all in on projects at work to keep yourself from thinking about your stress.

Talk to your boss about the need for flexibility and understanding

You don't have to breathe a word about the specific problem you're facing. You can simply say something like, "I'm going through a problem that's important and stressful outside of work, and need your help in managing my workload and the expectations of other departments." Your boss knows you're not a robot, and if you have been a superb employee before the problem arose, he or she will do whatever possible to help you ride out the storm.

You may be given the option to telecommute, or have some of the responsibilities lifted from you for a while. Just remember, a company and a boss can only do so much. If this drags on for months or more, the patience of those you work with will wear thin.

Consider using sick, vacation, personal, and FMLA days

If the problem is so intense that you just find it impossible to concentrate on your work, look into taking some much-needed time off. You will definitely be able to use vacation and personal days. It's possible you could also use sick time, or bring the Family and Medical Leave Act (FMLA) to your defense. This U.S. labor law requires employers to give workers job-protected unpaid leave in the event of a qualified medical or family emergency.

While you may think it will look bad to take extended time off, it will be far worse to stay at work and put in a terrible performance. In some cases, your lack of concentration could lead to disastrous consequences. Better to be away and working things out than at work and messing things up.

Seek professional counseling

Thankfully, the stigma of seeing a licensed psychologist or psychiatrist lessens with each passing year. However, there are still people out there that avoid them at all costs out of embarrassment. Really, that should be the last concern on your mind.

You need to solve the personal problem that's weighing you down, and professional counseling can be a great help at this time. The counselor may not be able to solve that problem directly, but even just talking it through with them can open new possibilities and avenues of success. At the very least, it's a confidential source in which you can confide, and that in itself can be a huge help.

Keep a daily reminder to remain positive, calm, and professional

When you get up in the morning, along with your usual routine, add something that gets you ready to tackle the workday — both emotionally and physically. Tell yourself that this will pass. Remind yourself that you're a good person in a bad spot, and bringing that issue to work will not help your situation. Take a deep breath and say out loud, "I'm going to do a great job today, because I'm a great employee."

It may feel corny, but doing it every day before work gets you into the mindset of being a real pro. The power of positive thinking is proven, and by getting into the best state of mind and avoiding negative thoughts, you will do much better at work. As the brilliant work coach Tim Ferriss says, "If you sit down in a negative state, you will be thinking first and foremost of problems, and not solutions."

Like this article? Pin it!

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How Your Bad Credit Can Impact Your Kids

Annie Mueller — Thu, 21 Sep 2017 08:00:06 +0000

This is not about laying the guilt on you as a parent (there's already plenty of that to go around). However, you need to know that bad credit not only impacts your financial situation, but can also have long-term effects on your kids. Here's what you need to know.

It could keep them from getting a student loan

Co-signing a student loan should not be the default decision in helping your child afford college. Co-signing can cause serious financial problems for you down the line if your child cannot afford to make the loan payments. However, if you do decide you want to help your child apply for a student loan by co-signing, a poor credit score could prevent you from doing so. Your negative credit history will come up in the loan application and can cause it to be denied.

Being unable to get a student loan means that your child may have to choose from limited educational options. Is that the end of the world? No, of course not. But certain career tracks depend on specific educational programs, and limited college options can make that difficult.

Federal student loans, however, are still an option for your child even if you have poor credit. The Perkins loan and the Stafford loan, for example, have fixed interest rates and don't depend on credit history to determine eligibility.

It could make it more difficult for them to establish a credit history

College is often the time when young adults start establishing their own, independent credit history. That seems like no problem, until you realize that "independent credit history" isn't so independent at first.

In fact, many credit card companies require a co-signer on a card if the primary applicant is under 21 years of age. That means that if you want to co-sign on a card to help your child start building credit, your own bad credit can cause your child's application to be denied. Keeping your kid out of credit card debt is great, but well-managed use of a credit card is often a great way to start establishing credit history. It's tough to get credit for a bigger purchase when there's no credit history to check.

A secured credit card may be a good alternative, but keep a careful eye on hidden fees and increasing interest rates. The key to using a secured credit card successfully is to pay it off in full each month; otherwise, the high interest rates will cost you and your child much more than it's worth to build that credit history.

It could teach them poor financial habits

If your bad credit is a result of poor financial habits, you may have passed those — and a bad attitude toward money in general — on to your kids. (See also: 4 Bad Money Habits You're Teaching Your Kids)

If they haven't learned from you how to budget, how to save, and how to plan for the future, they probably don't know how to do it. And if you're not showing them how to handle financial stress in a healthy way, or communicate with each other about financial issues, chances are they won't learn how.

The great news is that you can all learn together, starting now. A poor financial past does not have to mean a poor financial future. You can change your habits and your attitudes, and there's help available to do so. Start with financial counseling to figure out how you (and your kids) can build better financial habits for today and for the future.

It could prevent them from accessing opportunities

There are often special extracurricular activities, such as field trips, tutoring, music lessons, and more, which come with a hefty price tag. Many parents can't afford these expenses outright, but can use a credit card or other loan option to pay for the expense and then pay that debt off within a few months.

Poor credit can keep you from being able to access this payment option for these extra expenses, which means your child may have to pass on them. If your child is focused on a future that involves art, music, or sports, those missed opportunities may really matter.

However, it's worth noting that, in general, there are inexpensive options to build a stellar academic resume. Look into free extracurricular activities such as volunteering in local communities, trading lessons for service or help, or applying for scholarships for workshops and camps. (See also: Save on School Expenses Without Ruining Your Kid's Childhood)

It can negatively impact their home life

Poor credit can have a major impact on your ability to access housing, transportation, and work. It isn't fair to be judged solely by your credit score; unfortunately, it happens.

Poor credit might prevent you from getting a lease, which can make your living conditions unstable and bring a lot of stress into your life. You might encounter the same issues being unable to get a car loan, which means you have to rely on public transportation, rides from friends, or an old, unreliable car for getting around.

Of course, living and transportation issues can make getting to work difficult. If your job is unstable, your income is unstable. This instability leads to more financial issues and stress, all of which can directly impact your child's life at home. It's a vicious cycle.

What can you do?

Despite the negative consequences of bad credit, there are steps you can take right now to start improving things. It's not just for you; it's also for your kids. Here's a short list to get you started.

Get financial counseling

There are resources available, such as confidential, low-fee credit counseling from nonprofit organizations. A good place to find help is through the National Foundation for Credit Counseling and the Financial Counseling Association of America. You can also ask at your local credit union and religious or nonprofit organizations. Many of these places offer free or low-cost access to financial advisers, credit counseling, and debt management. (See also: 8 Organizations That REALLY Can Help You With Your Debt)

Start taking steps now to deal with your bad credit

Don't put this off another moment longer. Credit counseling, debt consolidation, lowering expenses, and even declaring bankruptcy may be good options.

Dealing with poor credit is not easy. However, you're not alone. Many people have dealt with bad credit and come through it stronger than ever, and you can, too. No matter how tough your financial past has been, you can build positivity for your kids by communicating, being proactive, and looking for ways forward, together.

Like this article? Pin it!

This article is from Annie Mueller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

4 Ways Science Says Money Affects Your Mind

Annie Mueller — Tue, 05 Sep 2017 08:30:10 +0000

How we think about money can make it easier — or more difficult — for us to handle our finances well. These studies reveal some interesting information on our money mentality, and how these thoughts can affect our day-to-day money decisions.

1. When you don't have enough money, you don't think as clearly

Without the money you need to pay your bills and meet your regular expenses, something strange happens to your brain. Because of the stress induced by financial scarcity, you can actually lose some cognitive functioning ability. That means you're less able to process information, analyze and prioritize conflicting needs, and make long-term decisions. (See also: Poverty Makes You Stupid)

In 2013 researchers conducted two different studies. One involved shoppers at a mall in New Jersey who were asked to consider a hypothetical problem, such as how to pay for a car repair. They were then given unrelated spatial and reasoning tasks to complete.

In the study, lower-income individuals performed poorly on those unrelated tasks if the cost of the car repair was high. They did better on the tasks when told the cost of the repair was lower. Higher income participants performed well, no matter what the cost of the hypothetical repairs were. The greater stress the lower income participants felt when faced with high repair costs seems to have affected their ability to perform other kinds of tasks.

In another experiment on the other side of the world, sugar cane farmers from India were asked to perform a series of tasks both before their harvest, when they were poor, and after the harvest, when they were rich. The farmers performed better at cognitive tasks after the harvest than they did before. Researchers concluded that poverty-related concerns leave less mental resources for other types of tasks.

You, most likely, are neither a New Jersey shopper nor a Tamil Nadu sugar cane farmer. However, your brain responds in the same way to financial stress. When you lack the resources to pay bills and buy groceries, or to handle a financial crisis of some sort, a huge amount of your cognitive ability is taken up in figuring out how to handle the problem. That means, of course, that you have less cognitive ability left to make decisions in other areas of your life.

Take-away

As much as possible, avoid making big decisions in any area of your life when you're under financial stress, whether it's temporary or extended. Try to give yourself more time, and get help when possible until your financial situation is resolved. Realize that the financial stress will have a direct effect on your cognitive ability, and normal tasks may seem harder. Reduce any obligations you can.

2. When you have a lot of money, you think you deserve all your advantages

You work hard for your money; so, in a sense, you deserve the advantages you gain from it. However, other advantages and the results of chance or "good luck" aren't something you earn or deserve. When you're doing well financially, however, you'll tend to give yourself credit for all the good stuff that comes your way, no matter how unrelated it is to your hard work or financial smarts.

In 2012, psychologist Paul Piff conducted an experiment on wealth's impact on ethical behavior. Stationed at the University of California, Berkeley, Piff had over 100 participants play a game of Monopoly. Anyone who's ever played Monopoly with competitive family members knows how dangerous that can be. In this situation, however, one player had almost no chance of winning; the two players were given different rules.

Player One got $2,000 at the beginning of the game, received $200 every time he passed Go, and got to roll two dice. Player Two, on the other hand, received only $1,000 at the beginning of the game, got only $100 on every trip past Go, and got to roll only one die. The mood of the game was interesting; as the players progressed, Player One, who was advantaged, became increasingly dominant and rude toward the other player, smacking pieces around the board and loudly celebrating their victory.

What does this mean for you?

It means that, if you're human (and we assume that you are), you, too, are subject to this type of mental attitude toward having plenty of money. The more financially secure you feel, the more you might assume you have the right to be financially secure. This cognitive bias could easily affect your financial future by leading you to treat your money casually and assume that everything will work out for the best.

Perhaps more chilling is the effect that this mental response can have on how you treat other people. A 2012 study by The Chronicle of Philanthropy showed that, surprisingly, lower-income households give a bigger portion of their discretionary income to charities than the wealthy do. In other words, not only can plenty of money make you think you inherently deserve all the advantages you have, it can make you think others don't deserve them … at least, not quite as much as you do.

Take-away

It's easy, and almost automatic, to feel invincible when you're in a good financial position. But this feeling of invincibility can prevent you from doing important financial planning, making prudent decisions, making wise investments, etc. You may also become less generous and less empathetic to the needs of others if you're feeling quite wealthy.

Generosity, however, is a key way to strengthen your social network and build a support structure that will be with you even through difficult times. You should never assume you'll always have the advantages of wealth, or that they're inherent to you somehow.

3. Thoughts about money ease pain and social distress

Money does matter, and we wouldn't pretend otherwise. But you know that money isn't the only thing that matters in life. You can have plenty of money, but without fulfilling work and deep relationships, you'll be missing out on what is essential for a happy life. Unfortunately, your brain is often convinced otherwise, and thinks of money as a substitute for connection and as a valid way to relieve pain.

In a 2009 study on money's impact on pain and social distress, participants were invited to a lab where they were told they would be tested for finger dexterity. One group was tasked with counting a stack of currency; the other group got to count blank pieces of paper. After they counted, some of the participants were asked to put their fingers in a bowl of hot water — 122 degrees F — and rate their level of discomfort.

The results?

The participants who had counted currency expressed much lower levels of discomfort than the participants who had counted paper. The study, combined with earlier research, points to a strange tendency we have to equate money with strength, acceptance, and social connection.

Take-away

When you have plenty of money, be aware of the tendency to focus on your wealth and ignore the other needs in your life. It's great to have things that make you feel better, and there's nothing wrong with being appreciative of your financial security. However, put effort, thought, and attention into the relationships and community that surround you — those last longer and ultimately do more for you than money ever could.

4. You think money improves the odds of getting what you want

It can be intimidating to ask other people for help. You don't want to be a burden. You don't want to inconvenience people. And you don't want others to help you out of some sense of obligation, when secretly they're fuming over the delay and effort. It's easier to ask people for help when you can offer them something in return; that way, you think, it's not so much "help" as it is a trade. And what better to trade with than cold, hard cash?

Past research has shown that people tend to underestimate their ability to get others to help them, or, in other words, to say yes to whatever is being requested. In five different studies, researchers showed that the requesters don't underestimate their ability to get others to comply as much when they're able to offer money in exchange.

In the various studies, participants were asked to make a small request of others; before they did so, they were asked to estimate the likelihood of their success. When the participants knew they could offer a monetary incentive in exchange for the request, they were much more accurate in their prediction. In other words, participants equated the ability to offer money with their own chances of success. Also interesting is that being able to offer money made participants feel more comfortable with making a request.

Take-away

You may think you have to offer value, in particular cash value, in order to get cooperation and help. However, while money is motivational, it's not the most powerful motivation by any stretch. The studies showed that monetary incentive helped the requesters more accurately assess their own ability to get help. That ability was always there; they just weren't able to accurately see it until they had cash-in-hand to offer.

Like this article? Pin it!

This article is from Annie Mueller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

7 Ways to Stay Calm in Stressful Moments

Kentin Waits — Mon, 07 Aug 2017 09:01:05 +0000

No matter how much we simplify our lives, try to be organized, or carefully plan our weeks, stress happens. And in a hyper-connected world, stress can find us wherever we are. With a reach like that, we could all use a few new strategies for maintaining a level head when the world feels upside down. Here are seven ways to stay calm when you're stressed.

1. Prepare yourself mentally

If you can anticipate stress, you can prepare for it and (with a little practice) control your response to it. Approach the situation with a positive attitude, consider what solutions will be available, make a plan, and determine how you'll reward yourself once the challenge is over. With a strategy in place, you'll be much more likely to stay cool when the heat is on.

2. Breathe

Proper breathing feeds oxygen to your brain and helps restore imbalances in the autonomic nervous system — two advantages if you're trying to keep calm under pressure. Take a few moments to practice mindful breathing. Inhale deeply, expanding the chest and engaging the diaphragm muscles. Exhale slowly and fully. Repeat. Relax. (See also: You Might Be Breathing Wrong)

3. Think of the big picture

Without proper perspective, stress can seem all-consuming. When you feel the pressure mounting, remind yourself that this is just a challenging moment in time; it's not the rest of your life. Identify the natural end point of every stressful period — the end of workweek, once final exams are over, or as soon as the latest project is complete — then work toward that point with renewed clarity and energy.

4. Identify what you can and can't control

Every stressful situation is different. Focus your energy by understanding what's within your control right now and working through solutions. Surrender everything that's beyond your control to the talents of others and that ultimate de-stressor: time.

5. Focus on what's urgent

With a clearer idea of what you can control, prioritize tasks as you go. Ask yourself, "What issue is most urgent? What could have the largest impact on my job, my business, or my family?" Sure, the printer may be jammed, there are deliveries to sign for, and your best salesperson just handed in her resignation letter. But if your largest client is fuming on the other end of the phone, that's the emergency. Focus only on what's primary and leave the rest for later.

6. Delegate

Often, stress is simply the result of too much to do in too short a time. In these instances, find someone you can delegate low-level tasks to (a team member at work, and a friend or family member at home). Trust that person to get the job done without your constant supervision and input. (See also: How to Delegate at Work and at Home in 4 Easy Steps)

7. Unplug

If you're feeling overwhelmed, phone calls, emails, text messages, and a steady stream of world news will only add to the chaos. Give yourself permission to unplug for awhile and give your brain a rest. If stress is a regular part of your life, reserve some off-grid time every evening or on weekends. Defend your downtime (and avoid worrying friends and family) by letting everyone know you won't be available. (See also: 13 Cheap Ways to Beat Stress)

Like This Article? Pin it!

This article is from Kentin Waits of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Bad Credit? It Might Cost You Your Marriage

Annie Mueller — Thu, 27 Jul 2017 08:30:04 +0000

There's a lot to think about when choosing a partner: attraction, personality, and commonalities in interests, values, and life goals. Sense of humor is important, along with whether she's allergic to your cat or he's tolerant of your love for stinky cheeses.

If you find a good match on all of those factors, are you set? Not entirely. Studies show that there's another factor you should consider: your potential mate's credit score.

The credit score connection

What's a credit score got to do with love? Quite a bit, actually. Well, maybe not love, per se, but credit scores have something to do with the longevity of a relationship. Lower credit scores are linked with higher rates of divorce or "relationship dissolution," according to a 2015 study done by the Federal Reserve Board.

The study looked at data from 12 million consumers to track correlation between credit score and relationship longevity. The results were telling: Researchers found that credit scores play a significant role in how long committed relationships last. If both partners have higher average credit scores at the beginning of the relationship, they are less likely to separate.

A drop of 93 points in a partner's average credit score increased the chance that the relationship will end in the second year by a whopping 30 percent.

If you thought money didn't matter, think again.

What about love, and stuff?

The big question is why. Why are lower credit scores related to increased chances of a relationship ending? There are several possibilities. More than likely, it's a combination of these factors:

Assumptions of character

The researchers posit that a low credit score may be linked to the lack of key relationship skills, such as trustworthiness. Credit scores, they point out, are used in many cases not just to show that someone is financially solvent, but that they are reliable and will honor their commitments.

Of course, there are many complex factors involved in an individual's credit score. It's not fair to assume that because someone has a low credit score, that person is unreliable, lazy, or untrustworthy.

But the perception that certain negative traits are present can be enough to close a lot of society's doors for an individual. A low credit score might mean you can't get a lease, can't get a loan, or can't buy a car. Those closed doors lead to the second significant factor: stress.

Ongoing financial stress

A low credit score may be due to unsecured and unpaid debt, often with high interest rates attached. Having debt at a high interest rate is enough, by itself, to cause financial stress. When you add in those closed doors, you get a mountain of financial pain.

Imagine someone who has high-interest debt with a fairly high monthly payment. This person gets a great job, but needs reliable transportation to get to it. They can't get a loan to buy a car, and they don't have the cash to purchase one outright, so they have to rely on friends and family for rides. Maybe public transportation is available, but maybe it isn't. This person's ability to get to work depends on the willingness of other people to provide transportation.

It's not the credit score, but it is

Stress is stress, whether it's financial or caused by some other factor. When someone lives under continual financial stress, it affects the functioning of their brain and body. Chronic stress is linked to higher blood pressure, lowered immune system, weight gain and obesity, depression and anxiety, short-term memory impairment, loss of concentration, and substance abuse.

People with low credit scores are often functioning with chronic stress. They're simultaneously trying to overcome the limitations and assumptions caused by their low credit score. The relationship correlations make sense. Stress from any factor will affect a relationship; chronic stress can slowly dismantle the structure of a relationship.

Resentment in the relationship

Resentment and conflict can develop when one partner has to continually take on the brunt of the financial burden. For example, a couple decides to buy a home together; however, one partner's credit score would hurt the mortgage application. Instead of pursuing joint homeownership, the partner with better credit becomes the sole applicant for the home loan and thus, the sole responsible party. This sense of financial inequality can lead to ongoing resentment toward the person with lower credit.

Resentment can run both ways. The partner with low credit may resent having to be "helped." And the partner with better credit may use it to justify bad behavior in other areas of the relationship.

What can you do?

A credit score does not define the person you're with. And a credit score is not forever. There are ways to consolidate debt. You can get free financial counseling. Romantic partners with strong communication skills, and a plan for paying off debt and building financial security can tackle the challenges of low credit together, and win.

Like this article? Pin it!

This article is from Annie Mueller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

4 New Reasons You Need an Emergency Fund

Damian Davila — Thu, 29 Jun 2017 08:00:10 +0000

You need an emergency fund: You've probably been told this plenty of times before, and you maybe haven't taken it as seriously as you should have.

Well, some fresh data from 2017 proves that … yes, you really do need an emergency fund! If you've delayed stashing that money away, now is the time to start.

1. Potentially higher health care costs under AHCA

Let's start with a big-ticket item: health care. Under the current administration, the American Health Care Act (AHCA) is adjusting several items from its predecessor, the Affordable Care Act (ACA), otherwise known as Obamacare.

Depending on several factors, including your age, and income level, and where you live, you may end up paying more or less under the AHCA than you did under the ACA. Those who are older, have a lower income, and live in an area with higher premiums are likely to pay more under the AHCA. For example, while a 40-year-old resident of Cherry County, Nebraska making $50,000 per year would pay 21 percent more in health premiums under the AHCA, a 27-year-old resident of Tulare County, California would pay 26 percent less.

To get an idea of how much you would in pay under the AHCA, use this predictor tool from the Kaiser Family Foundation and get more information from your current health plan provider. Having an emergency fund would allow you to be ready to cover not only medical emergencies, but also the potential hike in those health care premiums.

2. Worrying about finances makes you less productive at work

According to recent data from the Employment Benefit Research Institute, three in 10 American workers claim they worry about personal finance at their workplace. Even worse, over 50 percent of those workers believe that time spent fretting about money is making them less productive for their employers.

If you belong to this group of workers, then you would regain peace of mind at work with an emergency fund. By knowing that you could cover your necessities for three to six months if you were to lose your job, you would be able to focus on performing better and increasing your chance of a raise.

3. Average credit card APR is on the rise

What do you do when you don't have money to cover surprise expenses, such as the water heater breaking or the car going on the fritz? Most people without an emergency fund turn to a credit card.

Well, here is some bad news: A CreditCards.com survey found that the average credit card APR had reached a record 15.89 percent as of June 14, 2017. If your credit score is less than perfect, you can expect to pay an interest rate even higher than that average.

Remember, the whole point of having an emergency fund is to lower your financial risk. By using a credit card as an emergency fund, you're only adding risk to your personal finances.

4. Opportunity only comes around so often

Many people think of an emergency fund as a "rainy day fund." However, others think of it as an "opportunity fund" — a way to never miss out on a great opportunity for want of cash. And while an emergency fund should never be thought of as play money, if you have enough saved, you can use some of that cash to fund a special opportunity that may not come again. (See also: Why "Opportunity" Funds Are the New Emergency Funds)

Here are some examples:

You have the chance to refinance your mortgage to a lower rate (and lower your monthly payment!), but you don't have any savings to cover the necessary $2,000 to $3,000 closing costs. Luckily, there's enough in your emergency fund to help you go through with the refi.
You've had a lifelong dream of taking a two-week trip around Europe, but the tour company that you like is a little out of your price range. They offer a limited-time discount, and you pull some money from your emergency fund to take that trip of a lifetime.
The refrigerator that you've had since college has been jacking up your electricity bill for years. You discover that you could slash your monthly bill by 40 percent and get an energy rebate from the state government if you were to buy a more energy-efficient model. You don't have the money upfront, and the rebate expires next month … but there's enough in your emergency fund.

The list goes on. An emergency fund is usually a building block to achieve financial security, but it could also allow you to gain financial freedom. Once you gain the discipline to save enough to cover your necessities in case of an emergency, you may be able to continue to save in case of a seizable opportunity — or even a lifelong dream.

Like this article? Pin it!

This article is from Damian Davila of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

9 Signs Your Work-Life Balance Is Off

Paul Michael — Tue, 16 May 2017 08:00:09 +0000

For many Americans, the daily 9-to-5 is just a dream. The U.S. is renowned for having the longest work hours in the industrialized world, and our hours are only getting longer. Family, friends, personal pursuits, and general relaxation are all sacrificed.

Too often, it's by choice. While extra toil may seem like the best way to advance your career, numerous studies — summarized in the Harvard Business Review — have shown that overworking can backfire by damaging your health and reducing your productivity at work. One study in particular by HBR and the Boston Consulting Group found that forcing consultants to take time off at predictable periods (such as nights and weekends) improved their efficiency and effectiveness.

Are you part of the growing, and disturbing, trend of self-sabotage through overwork? Read on, and see how many of these red flags you check off. It's possible your work-life balance is completely out of alignment.

1. You're working way too many hours

Let's start with the simplest red flag. The typical workweek is 40 hours. Some days you may work a little more, some a little less — but it should even out to around 40 hours overall. You may not have a time sheet to fill out, but you should still have a general idea of how many hours you're putting in.

If it's consistently more than 50 per week, you are working too much. Any more than 60–70 hours a week, and you pretty much have no life outside of the office. This kind of stress can affect your health in many negative ways, including increasing your risk of heart problems, type 2 diabetes, and substance abuse.

Even if you work from home, you need to delineate your time. If you have a home office, make it off limits after certain hours. If it's a laptop or computer in the corner of a room, shut it down. If you are working overtime for extra money, only do it for short periods of time.

2. Falling asleep (or barely staying awake) at work

If you're routinely having trouble staying awake on the job, you are probably putting in too many hours. It's not unusual for some professions to demand an excess of 40 hours per week. In advertising, for example, it's considered the norm to work 60 or 70 hours, which burns many people out. This burnout is not only dangerous — it's deadly. You risk having a stroke, severe anxiety, depression, and if you work more than 80 hours per week, your risk of major heart disease increases by 94 percent!

If you're sleeping at your desk, getting in early, staying late, and drinking eight cups of coffee to get through the day, you are working way too much. Slow down. (See also: 13 Hacks to Avoid Burnout at Work)

3. You have no social life

Think back over the last few months. How many times did you cancel plans because your job took priority? How often did you turn down invitations to parties or get-togethers because "something came up at work?" Did you have to sell your tickets to a concert, or back out of a weekend trip, because the boss needed you to come in?

These are all signs that your work-life balance is completely messed up. It's OK to work late once in awhile. Sometimes, it's unavoidable. But if your social life always takes a back seat to your career, you will suffer. And so will your work. You need down time. Take it.

4. Work is always on your mind

You muse about it at the dinner table. You think about it in bed. You lose track of the conversation because you're worried about the project you're working on. When the only thing on your mind is work, you have a serious problem.

At work, it's great to be this focused. At home, your focus should be your family, your friends, your hobbies, and other nonwork pursuits. Thinking about the job all the time will take its toll on your mental health, and you'll eventually burn out.

If you find yourself unable to switch off, it may be time to seek help from an occupational therapist. They will teach you coping skills that allow you to turn off the "work brain" and come back to reality.

5. You are constantly checking work emails

These days, we carry smartphones that put the office in our pockets. You can open emails in the checkout line at the grocery store, at the ballgame, or even on a date. And if you're doing any of those on a regular occasion, your job is taking over your life.

You need to put hard restraints on your private time. You should not be expected to check emails all hours of the day and night. Some people even get woken up in the middle of the night by emails from an overzealous boss or coworker. Set limits. Refuse to answer emails after a certain time. It's as simple as that.

6. You never take a vacation or sick day

Americans aren't using their vacation days. As of 2015, workers only took an average of 16.2 days of vacation per year — almost a week less than the average between 1978 and 2000 — and 55 percent left days unused. That's a lot of wasted opportunities for a healthier work-life balance.

Vacation days are important. Sick days are important. Refusing to use either of them is going to have serious repercussions on your wellbeing. Even if you think you're completely fine, but haven't taken a vacation in years, you may be ready to burn out. Sadly, by the time it happens, it can take months to put right. Sick days are vital for when you are genuinely sick. Not only will showing up to work prolong your illness, but you'll also spread it to other people in the office.

Your work suffers when you're sick, too. This is why companies want you to use your sick days when you are ill. Dedication is one thing, but letting your health suffer isn't helping you or your employer.

7. You crack under the slightest pressure

You find yourself having far less patience these days. You shout and become frazzled at the smallest provocation. You apologize often for outbursts that never should have happened. You are almost certainly showing signs of a work-life balance that is very unhealthy.

When we have our work-life balance right, we can more easily handle problems that arise. We don't crack, and we don't fly off the handle. But the more we work, and the less time we have to relax, the quicker our patience reserves go into the red. If you're breaking easily, you need to re-evaluate the time you're spending at work.

8. You constantly think about quitting

They say that if you do something you love, you'll never work a day in your life. Most people don't have that luxury. It's a job, it pays the bills, it provides health insurance, and it serves its purpose.

But if the job starts consuming your life, and all you can think about is quitting, then your work-life balance is way off. Yes, it may also be because the job itself is not pleasant, but when the bad job becomes the bane of your existence, it tips the scales. (See also: 8 Signs You Should Quit Your Job)

9. Your personal space is a mess

No time to clean. No time to organize. No time to do anything other than work — and boy, does it show. It usually starts with your desk at the office, and then it spreads. Before you know it, your home is just the place you sleep and shower. Your space is an utter mess, and you ignore it all.

Why? Because you're never there long enough to care. And when you are home, you're exhausted. Take a look around you, right now — has your personal space gotten out of hand? Is everything a mess? Then it's time to take a much-needed break.

This article is from Paul Michael of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: