Does Financial Stress Make You Stress Eat?

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A recent study conducted by Harris Interactive for Bahama Breeze restaurant company found that finances are the number one greatest source of stress for most American adults. I think there’s a link between financial stress and stress eating. When we did the research for our first book, I’d Kill for a Cookie, our survey of 1000 people found that two out of three people report stress eating. Emotional stress can affect what, when and how much you eat. Think about it, do you eat when you’re sad, lonely, angry, stressed about your finances? If you think you stress-eat but you’re not sure, take our assessment at fatisnotyourfate.com. Go to ‘Inside the Book’ and then ‘Phenotype Assessment’ and take this quiz.

We’re about to launch into the holiday season which means spending money and the annual ‘eat fest’ that goes from Thanksgiving through the Super Bowl. I had the opportunity to interview Linda Neuman, CPA on my weekly Internet Show (10/24/07) and talk about financial stress. Linda works with corporations in the global market and media spokespersons such as Coach Lou Holtz. She shared seven steps to reduce financial stress.

7 STEPS TO REDUCE FINANCIAL STRESS

1) Budget: Keep it simple! Don’t spend more than you earn.

2) Determine your exact expenses: Make a list. Divide the list by:

a. fixed expenses like house payment, car payment, etc.

b. discretionary expenses like groceries, clothing, starbucks coffee, etc

3) Make a plan: Decide now what you want to spend on holiday shopping, savings, new house, charities, etc.

4) Reduce impulse buying: Use cash instead of cards for discretionary spending. It forces your awareness of your spending habits.

5) Reduce credit/debit purchases: Be aware there is no recourse on a debit purchase if you have a disagreement with vendor. The little amounts add up to a big amount before you are aware of it. The bill comes in at the end of month and AAUGGHH!

6) Be flexible! Save for that big ticket item instead of going right out and charging it. Look at slightly used items or scout E-bay instead of brand new. Wait a month after something new comes out.

7) Take baby steps: It’s hard to make major financial changes overnight. Work hard on putting one of the new habits in place and just be aware of the others. Decide what you want to work on the most and stick to it.

Did you see the article about credit cards contributing to extra pounds? In a survey commissioned by Visa, 82% of respondents said that paying for fast food with credit or debit is more convenient than dealing with cash and 68% said it’s faster. Get this, 77% said they buy exactly what they want because they’re not limited by the cash in their pocket. If you order an extra item or a larger size you can see how your weight can creep up. If you eat 100 calories per day more, every day all year, you’re talking about 10 new pounds on your thighs or belly by the end of the year.

Start putting your game plan in order now so that you are in control of your upcoming holiday spending and eating instead of financial stress and stress eating controlling you.