5 books for managing financial stress

Mental Health

A common source of stress is financial worry. Whether you're struggling to make ends meet or just feeling uncertain about the future, financial stress can take a toll on your mental health. Here are 5 books to help you achieve financial Xen in 2024.

The Psychology of Money - Financial Stress

The Psychology of Money by Morgan Housel

This book explores the ways our emotions and psychology affect our financial decision-making and provides practical tips and strategies for managing money and reducing financial stress. Buy now at Amazon

The Total Money Makeover by Dave Ramsey

This book offers a step-by-step plan for getting out of debt, building wealth, and achieving financial security. It provides actionable advice on budgeting, saving, and investing, as well as tips for dealing with financial stress. Buy now at Amazon

The Financial Diet: A Total Beginner's Guide to Getting Good with Money - Chelsey Fagan

This book is a great resource for anyone who wants to get a handle on their finances and reduce financial stress. It covers topics such as budgeting, saving, and investing, as well as how to manage money in the context of relationships and social situations. Buy now at Amazon

Your Money or Your Life- Financial Stress

Your Money or Your Life" by Vicki Robin and Joe Dominguez

This classic book provides a holistic approach to managing money and reducing financial stress. It emphasises the importance of aligning your financial goals with your values and priorities and provides practical tips for achieving financial independence and security. Buy now at Amazon

The Millionaire Next Door by Thomas J. Stanley and William D. Danko

This book explores the habits and behaviours of millionaires, and provides insights into how anyone can achieve financial success and reduce financial stress by living below their means, saving and investing wisely, and focusing on long-term financial goals. Buy now at Amazon

And if you are struggling remember, you are not alone.

According to a survey by the Money and Mental Health Policy Institute, 72% of men said that financial stress had negatively impacted their mental health, compared to 68% of women.

The same survey found that men are less likely than women to seek help for financial problems, with only 25% of men saying they would feel comfortable talking to their employer about their financial situation, compared to 33% of women.

Throw in the current cost of living crisis and that stress is going to keep climbing. To manage financial stress, it’s important to take control of your finances and not stuff the brown envelopes in the ‘read later’ drawer. Create a budget, pay off debt, and set savings goals.

Here are some places that can help with any financial worry you might have.

Citizens Advice Bureau – https://www.citizensadvice.org.uk/debt-and-money/

StepChange Debt Charity – https://www.stepchange.org/

National Debtline – https://www.nationaldebtline.org/

Debt Advice Foundation – https://www.debtadvicefoundation.org/

Money Advice Trust – https://www.moneyadvicetrust.org/

PayPlan – https://www.payplan.com/

Shelter – https://england.shelter.org.uk/housing_advice/debt_and_arrears

The Money Charity – https://themoneycharity.org.uk/

Turn2us – https://www.turn2us.org.uk/

If you want further reading on managing stress, read our 10 books for managing stress in your life