How to deal with financial anxiety
The impacts of the coronavirus are causing many people to experience financial stress. If you’re one of them, consider employing some of the strategies below.
Accept What’s Happening
One of the main causes of financial anxiety is the fear of the unknown. You don’t know what life is going to be like after the pandemic is over, and you’re worrying about it non-stop. One way to combat that is to accept that, for a brief time, things are going to be confusing and worrisome. The key is to remember that this will not last.
Focus On Your Strengths
Go through your financial situation and identify your strengths. Maybe you have solid savings. Maybe your credit score is sky high. Whatever your strengths are, try focusing on them. Recognize the things that are going well for you. Recognize the things that you can control.
Know Your Weaknesses
Just as you should focus on your strengths, be mindful of your weaknesses. If the never ending news gets you stressed, read one source, then move on. If you shop to ease your anxiety, be aware of that habit and watch your spending. Try employing a substitute strategy. When you feel like shopping, go for a walk or take a bath instead.
Help Your Mental Health
Be gentle with yourself. If you’re seeing a therapist, keep it up. If you think seeing one could be helpful, set up an appointment (via teletherapy). Get outside. Set up calls with friends. You should be prioritizing mental health. It will help you in every way.
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