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If you’re like most Canadians, at some  point in your life you’ve experienced (or  are currently experiencing) some stress or  anxiety when it comes to personal finances.  Debt levels, volatile markets, aggressive  news cycles and big decisions all take a toll  on our mental well-being. If you’re looking  for a few simple ways to combat this strain  and unburden yourself, here are a few  suggestions: 

1. Refocus on your goals. A way to alleviate  financial anxiety is to take a step back and re assess your goals. Money is not and should not be  your end game; rather, you should focus on what  money can do for you and your family. Are you  working towards buying a home? Retiring early?  Taking a vacation? Ask yourself what your money  is to be meant for and keep that mission at the  forefront of your mind. 

2. Build a plan. Take time to concentrate on the  factors you can control (what you save, how you  save, what you choose to invest in) and do the  math to see if you’re on track. At your current pace,  how long will it take you to be debt free? How long  until you can switch careers? How long until you  can hit that goal? By having a timeline in place for  achieving your financial goals, you’ll feel much  better about your current state and where you are  in your journey. 

3. Mitigate the risks. Ask yourself, “what can  stop me from reaching those goals?” Would an  unexpected injury, job loss, illness, or bear market put an end to your plan? If so, take the necessary  steps to review and shore up your personal  insurance protection (home, life, disability, critical  illness etc.), build an emergency fund (three to  six months of living expenses) and assess your  investment allocation. Putting these guardrails in  place will help you understand that your plans can  run smoothly through any life scenario. 

4. Work with a professional. You don’t have to go  it alone and shoulder all the responsibility for your  household financial decisions. Consider offloading  some, most or all the weight on a financial security  advisor you trust. Making one decision on who to  work with will save you countless hours of energy  and effort in your future decisions. 

5. Ignore the noise. Take some time away from  the things we all know cause stress. Social media  and news outlets are competing for our attention,  so sensational stories make the best stories. What  happens in the outside world often has far less  bearing on our household finances than you may  think. You won’t lose anything by taking a break  from the noise while you will certainly gain some  relief. This information is general in nature, and is intended  for informational purposes only. For specific  situations you should consult the appropriate legal,  accounting or tax advisor.