7 Things To Do If You’re Worried About Money

We’ve all been there—feeling stressed about money and not knowing where to start. Whether you’re trying to stretch your paycheck a little further, cover an unexpected expense, or figure out how to get your finances back on track, it’s normal to feel overwhelmed at times.

The good news is that there are practical steps you can take to ease your financial worries. In this article, we’ll go through seven actionable things you can do when money is on your mind, helping you get back in control and breathe a little easier.

1. Assess Your Current Financial Situation

The first step in tackling your money worries is to really understand your current financial situation. This can be a little uncomfortable, especially if you’ve been avoiding looking at your bank account, but it’s so important. Start by gathering all your financial information—bank statements, bills, credit card balances, loans, and income details. Write down your monthly income and list out every expense, from rent or mortgage to groceries, gas, and even those small subscriptions that sneak up on you.

Once everything is laid out in front of you, you’ll have a clear view of where your money is going. You might even notice spending patterns that you weren’t fully aware of before. This step isn’t about judging yourself for past financial decisions, it’s simply about understanding where you stand so you can make informed choices moving forward. Think of it like a map—you can’t figure out the best route if you don’t know your starting point!

2. Create a Simple Budget

Now that you’ve taken stock of your finances, it’s time to build a budget. Budgets sometimes get a bad rap, but they’re actually a powerful tool to help you take control of your money, rather than letting your money control you. The key is to make it simple and realistic. Start by listing your income at the top of the page and then break down your spending into categories like rent or mortgage, utilities, groceries, transportation, and entertainment.

As you categorize your spending, remember to allocate money for savings and debt repayment, even if it’s a small amount. The goal of budgeting isn’t to restrict every dollar; it’s about giving your money purpose and making sure you’re prioritizing what matters most to you. You don’t have to cut out everything fun, either—just make sure it’s balanced with your needs and goals. A budget puts you in the driver’s seat, helping you feel more in control of your financial future.

3. Cut Unnecessary Expenses

Once you have a budget in place, the next step is finding ways to cut back on unnecessary expenses. This doesn’t mean you need to deprive yourself of all your favorite things, but it’s a good idea to evaluate where your money is going and make adjustments where it makes sense. Start by looking at those little expenses that add up over time—daily coffee runs, takeout meals, or multiple streaming subscriptions. You’d be surprised how much you can save just by cutting back a little here and there.

For example, if you buy coffee every day, consider making it at home a few days a week. If you have multiple streaming services, ask yourself if you’re really using all of them. Sometimes, we pay for things out of habit rather than actual need. By trimming these small expenses, you can free up cash to put toward savings, paying off debt, or just giving yourself a little more breathing room each month. And remember, it’s not about cutting everything; it’s about finding the balance that works for you.

4. Start an Emergency Fund

An emergency fund is one of the best financial safety nets you can have, but I know it can feel like a daunting task to start one—especially if money is already tight. The good news is that you don’t have to build it all at once. Start small, even if it’s just $5 or $10 a week. The important thing is to get into the habit of setting money aside specifically for emergencies.

An emergency fund is like your financial buffer. It protects you from having to rely on credit cards or loans when life throws you a curveball, like an unexpected car repair or medical bill. Ideally, aim to save three to six months’ worth of living expenses, but don’t let that number intimidate you. Even having a few hundred dollars set aside can make a huge difference in how you handle financial surprises. Over time, as you build up this fund, you’ll feel a lot more secure knowing that you have a safety net in place.

5. Look for Ways to Increase Income

If you’ve tightened your budget and cut back on expenses but still feel like you’re not making enough progress, it might be time to explore ways to increase your income. This doesn’t necessarily mean finding a second job (though that’s an option); there are lots of creative ways to boost your earnings. You could start a side hustle, like freelance writing, graphic design, tutoring, or selling things you no longer need online.

Another option is to ask for a raise at your current job or see if there are opportunities for overtime. If you’re in a position to pick up extra shifts, take on additional responsibilities, or move into a higher-paying role, now might be the time to explore those options. Increasing your income can provide some much-needed breathing room in your budget, and even small boosts can help you pay off debt or save more quickly. Don’t be afraid to think outside the box!

6. Seek Professional Financial Advice

If you’re feeling lost or overwhelmed with your financial situation, there’s no shame in seeking professional advice. A financial advisor or counselor can help you create a personalized plan to manage your money, pay off debt, and save for the future. They can offer an outside perspective and guide you through strategies that you might not have considered on your own.

Many people think financial advisors are only for the wealthy, but that’s not true. There are plenty of affordable (and sometimes free) options for financial counseling, especially through nonprofit organizations. Whether you’re dealing with debt, trying to save for a big goal, or just want a clearer path forward, getting professional advice can give you the confidence to make better decisions and ease some of your financial worries.

7. Focus on Your Mental and Emotional Well-Being

Money stress can take a toll on more than just your wallet—it can affect your mental and emotional health, too. That’s why it’s so important to take care of yourself while you’re dealing with financial challenges. Stressing over money can make it harder to think clearly and make good decisions, so finding ways to manage that stress is key.

Make time for activities that help you relax and recharge, whether that’s going for a walk, practicing mindfulness, or talking to a trusted friend or family member. It’s also important to remind yourself that you’re not alone—so many people experience financial stress, and there’s no shame in it. By focusing on your mental well-being, you’ll be in a better headspace to tackle your money worries with confidence and clarity.

Dealing with financial stress can feel overwhelming, but you’re not powerless. By taking proactive steps like assessing your financial situation, creating a budget, cutting unnecessary expenses, and focusing on your emotional well-being, you can start to regain control of your money and your peace of mind.

Remember, you don’t have to solve everything overnight—small, consistent changes add up over time. Stay patient, stay positive, and trust that you’re moving in the right direction.