If money worries have you feeling overwhelmed, you’re not alone. Explore these seven practical strategies designed to help you manage financial stress.

Financial stress touches everyone, regardless of earnings. Whether dealing with debt, safeguarding investments, or saving for retirement or education, money can often be a source of anxiety.

Research highlights that about 23 percent of millennials report that financial concerns make them feel physically ill at least once a month. Over half express significant anxiety about job security, while 24 percent say financial worries impact their romantic relationships frequently.

“Managing finances isn’t straightforward,” states Doug Hughes, a partner at a financial consulting firm in Bloomington, Indiana. “The stress comes from feeling like you’re not keeping pace and worrying about whether you can achieve your financial aspirations.”

For instance, if you’re 45 and plan to retire at 67, you have 572 paychecks to handle your mortgage, fund your children’s education, save for retirement, and enjoy life. “This can be stressful,” Hughes adds.

Many face seemingly unreachable financial goals, an unstable job market, and erratic stock performance. Additionally, some accumulate debt to sustain lifestyles beyond their means, “tying future income to present spending,” Hughes notes.

Financial uncertainty is common, but you don't have to accept it. By taking strategic steps, you can pave the way toward a more secure financial future, easing your worries.

Establish an Emergency Fund

Aim to save three to six months’ worth of living expenses, starting small if needed, like saving $20 weekly.

“Not having cash set aside can be incredibly stressful,” advises Byron Ellis, a financial planner in The Woodlands, Texas. “If unexpected expenses arise, having a cash reserve allows you to handle it without disruption, significantly lowering your stress.”

Live Within Your Means

“This is a major source of stress,” Ellis explains. “Many people exceed their income, depleting their funds and increasing credit card debt, creating a constant state of anxiety.”

To avoid the stress of insufficient funds and debt accumulation, create a simple budget and adhere to it. It’s tempting to overspend in today’s consumer-driven world, but remember that a stress-free life is more rewarding than that trendy pair of shoes or a spontaneous getaway.

Adopt a Savings Mindset

After establishing your emergency fund, prioritize saving as a lifestyle. Aim to save 10 to 20 percent of your income.

“Treat savings like a necessary bill,” suggests Joe Toms, president of a financial management firm in San Mateo, California. “Set up automatic transfers to your savings account. Start small, even at $25 a month, and increase when possible.”

Develop a Financial Plan

A basic monthly budget is crucial for a stress-free financial life, but a long-term strategy is equally important. Begin by assessing your current financial situation, tracking cash flow in and out, advises Ben Barzideh, a wealth advisor in Crystal Lake, Illinois.

Creating a five-year plan can provide clarity, says Jim Wiley, CEO of a financial firm in Conshohocken, Pennsylvania. “Identify what you want in five years—be it a career shift or saving for education. Most people overlook the financial sacrifices needed to achieve their goals. By planning, you can lead a more intentional life.”

Stay Proactive

Avoiding bills won’t ease your financial anxiety. Open all correspondence promptly, including bills, and tackle them head-on, Toms recommends.

Pay bills as they arrive or create an organized system, such as a desktop folder or app, to ensure timely payment. Regularly check your bank balances to monitor spending and savings, adjusting your budget as needed.

Reduce Debt—Focus on Credit Card Debt

Credit card debt is among the costliest for consumers, especially as interest rates rise, warns Toms.

If you have credit card debt, commit to eliminating it. Consider personal loans as a solution, which typically have lower fixed interest rates than credit cards. “This approach is less burdensome than minimum payments on a credit card,” Toms notes, providing a structured repayment plan.

Explore Additional Income Sources

If you have specific financial goals, consider ways to increase your income.

Cut costs by eliminating nonessential purchases or opting for more affordable alternatives. “Do you really need to buy bottled water when tap water is available?” Wiley questions. “Redirect saved funds toward more significant goals, like your child’s college fund.”

Besides cutting expenses, look for higher-paying job opportunities, side gigs, or even starting a small business to boost your income.