Does money make you sick?

WHEN T. S. ELIOT WROTE, "April is the cruelest month," he might have been signing his tax return. Dealing with the IRS--or other kinds of money trouble--can lead to stress and impaired physical health, say researchers at Ohio State University. The first step toward feeling more secure about money is to really understand where it goes, says Bambi Holzer, author of Set for Life: A Financial Planning Guide for People Over 50. She suggests gathering three months' worth of credit card receipts, debit card bills, and canceled checks. Mark each item with a colored highlighter: Pink means pleasure, green means a necessity, and yellow means self-improvement or business-building. At the end of every month, you want to have money left over; if you don't, you need to re-evaluate your expenses--and pleasure items are usually the first to go. Once you're clear about your spending patterns, Holzer says, you can begin to create a financial road map for your life--you'll know where you're going and see more clearly how to make positive changes.

If fear is a factor, try keeping a money journal. Start by describing your earliest money memories, your parents' spending styles, your current fiscal beliefs, and your biggest financial fears. "Dealing with money in our lives can be terrifying," says Susan Ariel Rainbow Kennedy, better known as SARK, in her book Prosperity Pie: How to Relax About Money and Everything Else. "But whenever we can shine a light on what scares us, it illuminates the scary parts and enables us to see and heal them."

SARK also suggests having frank conversations with friends about money. "Open dialogues about money are as rare as a well-balanced checkbook or no credit card debt," she notes. "We all imagine that others are really organized and together with their money. Most people are not."

Her bottom line: "Money flows toward goodness, and the more fun we can have, the more it will appear."

COPYRIGHT 2005 Weider Publications
COPYRIGHT 2005 Gale Group