Do Your Finances Keep up at Night?

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The world has been pretty bleak lately, and it’s keeping many people up at night. The truth is, many people are concerned about their financial situation, but as with any other trouble in life, worrying won’t do much good. Therefore, instead of counting sheep and allowing your anxieties to drown you at night, try these intentional but straightforward ways to regain control of your finances.

Reassess your financial situation.

Avoidance is a normal reaction to the stress and embarrassment of financial trouble. However, running away from the truth of your money is simply going to make everything worse. Instead of assuming that there’s nothing you can do about your financial situation, take the time to reassess it and see what minor changes you can make.

For instance, if you’re a startup business owner who’s having trouble with cash flow, you can look into taking a business loan or working capital loan. There are restaurant equipment financing companies that offer flexible financing options to restaurant business owners at competitive rates. The area of your business that needs financing will help determine the type of loan you’ll need.

For instance, a long-term loan is the best option for capital-intensive equipment. So, as a restaurateur in need of a commercial kitchen equipment financing option, you can take a restaurant equipment lease to purchase new restaurant equipment like shelves, ovens, ice machines, knives, a freezer, fryer, stove, refrigerator, and grill.

Before settling for a financing solution or equipment vendor, be sure to confirm if they have affordable monthly payments and look into their application process, term lengths, and upfront costs. The bottom line is, while the equipment financing company will want to vet your credit report and collateral, you should research them, too, to ensure you make informed choices.

Practice self-care at all times.

While your finances could make you lose sleep at night, it’s not enough to assume that having more money in your bank account will magically make your insomnia disappear. It is worthy to note that practicing self-care daily, even for five minutes, can help improve your finances and quality of sleep.

An excellent place to start is setting a nighttime routine. For instance, write your goals, feelings, and expenses in a financial journal at the end of each day. You can follow this up by preparing yourself a cup of tea or having your bath with essential oils. Another great alternative would be using cannabis products like a CBN sleep aid supplement.

Understandably, not everyone is comfortable taking a cannabis plant edible because of its psychoactive properties. However, CBN contains <0.3 percent THC, making it a byproduct of the degradation of THC, and as such, it doesn’t produce the same psychotropic effects. CBN works by interacting with the endocannabinoid system, which is considered to assist control a wide range of physiological activities, with anecdotal evidence of it working as a natural sleep aid, an appetite stimulant, a mood booster, and a powerful sedative. With all the above said, it’s always best to check with your GP before incorporating CBN into your routine.

Remember to build an emergency fund.

An essential part of your overall financial well-being is having some emergency savings on hand. Experts recommend having three to six months’ worth of expenditures saved up. It’s a scary amount for many individuals, and it’s enough to discourage even the most sincere saver.

However, worrying about unforeseen bills is a major source of financial stress. Being faced with an unexpectedly large medical or repair expense is enough to make anyone lose sleep. Therefore, having an emergency fund of three to six months’ worth of living expenses can provide you peace of mind in an otherwise stressful scenario.

You can build your emergency funds by automating your savings or committing to making regular monthly contributions. Even better, put this amount in a money market fund instead of a regular savings account, so it earns more money than a standard savings account.