There is a difference between a small amount of money anxiety and full-blown fear. Sleep is disrupted by financial anxiety. When you check your bank balance, you feel a sense of panic. Avoiding the topic of money will help you avoid a spiral of negative thoughts about debt, late fees and upcoming payments.
Constant anxiety about finances is unhealthy. What can you to do get better?
Find healthy coping strategies
You need to find healthy coping methods that keep you calm. Deep breathing exercises and body scans can help you calm down. When you feel overwhelmed, you can listen to soothing music, take a walk outdoors or call a friend.
Finding healthy coping techniques that work can help you avoid destructive behaviors like substance abuse or retail therapy. Your mental and financial health will be more damaged by a destructive habit. Avoid them at all costs.
Take Action to Resolve Your Financial Issues
Take the time to find the source of the problem. If you don’t address the problem, it won’t get better. You should create a budget that is reasonable and look for alternatives to your regular expenses. Prepare an emergency fund, or apply for credit if you are not prepared to cover unexpected costs. Find out what is most bothering you about your finances.
How do you start? Click here to learn how to create a financial plan template to help you reach your goal. Your goals will feel more manageable with a step-by-step plan.
Use Exposure Therapy
This is because you dread checking your bank account and avoid it at all costs. This is a risky tactic because you don’t know how much money you spend, how much savings you make or how much debt to pay off. For a short time, ignorance is bliss. Later on, it will become a major problem.
Exposure therapy is a good technique to combat this type of anxiety. This involves facing your fears on purpose to reduce their emotional impact. This means you should check your bank account regularly. You will find it easier to do it the more you practice.
Discuss It
These negative emotions are hard to keep bottled up. You might be able to get some help from a mental healthcare professional. Many therapists and counsellors specialize in issues such as financial difficulties and anxiety.
If this doesn’t appeal to you, then consider talking with a family member or trusted friend. Talking about your problems can help you to feel better if you are in a bad mood. Schedule a Zoom coffee or weekend chat to let go of stress.
You shouldn’t let your anxiety over personal finances take over your life. You might be able to breathe easier when you look at your credit card statement if you follow these tips.
