re-asserting our control over our money. In the broadest sense, here’s how we do that: Simplify – by choosing simple, easy-to-understand investments and financial structures that require a minimum of monitoring and “mental space,” we feel more in control about what our money is doing, and how much time we must spend managing it. Automate – when we delegate routine financial tasks, put investment decisions on “autopilot” and use professional management and guidance when needed, we feel empowered by our decisions, rather than the opposite. Eliminate – by avoiding financial situations and circumstances that are causing undue worry and stress, we ensure that control is maintained. Anticipate – by building contingency funds and formulating “what if” strategies to boost financial security, we take back control over our peace of mind, and empower ourselves with options and choices even in the most difficult times. Looking at financial stress through this lens helps us determine which course of action we should take whenever we find ourselves feeling anxious about a financial topic. First, identify the source of the threat – what exactly are we feeling loss of control or power over? Then, ask yourself how you can simplify, automate, eliminate or anticipate so that you can regain that control or power (or at least some of it). Let’s take a look at how we might put these four principles into action, by tackling some of the most common sources of financial stress. Finance CSANews | FALL 2023 | 25
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