Rising debt, retirement savings, paying for college – financial woes can keep even the best of us from catching a good night’s sleep. An unhealthy financial state not only puts our future in jeopardy but pushes us into an anxiety-ridden state which impacts our health and well-being. Have money worries taken away your peace of mind? Here are the common causes of financial stress and what you can do to eliminate them and restore your financial health.

Out-of-control debt

Credit card dues, mortgage, bank loans – an unmanageable debt situation is the leading cause of stress and can push you into financial crisis if the problem is not nipped in the bud. The genuine approach towards eliminating the issue is to find out exactly how much you owe and pool in all your resources to pay off the outstanding amount. You can try different ways to get rid of the problem such as the debt snowflake method which advocates making smaller and regular payments to settle the dues or implementing a bare-bones budget to minimize your spending and generate savings which can help bring your debt under control.

Inadequate income

Stuck in a job for years at the same salary? Pushing 30 and still not earning enough to buy a new house? Apart from causing an inferiority complex, a paltry income can become a real cause for concern when you find yourself unable to meet the basic needs of life. While most people feel they earn less compared to peers, the real way to assess your situation is to evaluate whether you are able to meet your key financial goals with the money you are making. If you still find it inadequate, it’s time to change your job and aspire for more. Besides, you could also try asking for a raise at work if you believe you are worthy or upgrade your skills to aspire for a better position in another firm. [Related: Retire in peace: 5 steps to take today]

Low savings

Be it your child’s education, retirement fund or unexpected emergencies – healthy savings can help us tide over life’s myriad needs with ease. On the contrary, low savings will always keep you worried about your precarious state and can leave you in dire straits in the event of a financial emergency. The key to saving more is to chalk out a budget and eliminate all unnecessary expenditure. You can try cutting down on unnecessary expenses, end subscriptions you don’t need and give yourself short-term saving goals. Even minor lifestyle adjustments such as switching to a cheaper coffee brand can go a long way.

Aspiring for a certain lifestyle

Wanting a better lifestyle can also be a big cause of financial stress as all of us aspire for things like fancy vacations, expensive gadgets or swanky automobiles. Moreover, as social media brings us closer to each other, the impact that someone else’s lifestyle can have on you is deeper than you think. While it is completely okay to aspire for more, the key to a happier life is learning how to manage your desires and not let superficiality of the modern world impact your sense of self. Also, it’s vital to let self-improvement take precedence over everything else as that is the key to long-term gratification. [Related: 5 Ways a ‘Minimalist’ Lifestyle Can Save You Money]