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FACE YOUR FINANCES
Money is one of the top causes of stress today—and it’s well known that stress can trigger a cold sore. Here’s why being on top of your finances is good medicine.
Enter your income and expenses into a worksheet so all of your finances are in one place. You can create one on your own or use any number of pre-existing sources like the budget worksheet on Consumer.gov or Budgetworksheets.org. If your expenses are greater than your income, find ways to cut back.
This rule suggests allocating 50% of your monthly income toward your fixed expenses (rent, groceries, utilities, etc.), 30% toward lifestyle expenses (eating out, entertainment, traveling, shopping, etc.), and, in a perfect world, 20% toward savings and reducing your debt. However, the average savings rate in the US is between 4% and 5%. So even putting away 10% will put you comfortably above the average.
Try your best to stick to a monthly budget. Sometimes, what’s worrying you are looming expenses related to special occasions, like weddings, holidays, and anniversaries. As you get closer to your personal savings goals, you’ll feel more in control, and reviewing your budget every month can help you better plan for these big events.
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