It seems that many of the headlines dominating the news these days is related to money. Rising gas prices, rents, food, utilities, interest rates, car rentals, and airfares to name a few, we’re all impacted by costs, and the perception that the economy is faltering. However, spending too much time worrying about finances can be detrimental to your health, by causing or exacerbating symptoms of anxiety and depression. In life, money comes, and money goes. Most people are able to meet their basic needs, and there are many services and support available to those who need additional aid. And some people can embrace a scarcity mindset, rather than one of abundance.
- Live within your means. Create and follow a budget.
- Review your budget—how well were you able to adhere to your financial guidelines?
- Explore your relationship with money—healthy relationships include recognition that there will be times in which resources are limited and in excess.
- Work with a financial professional to gain perspective (and a second opinion).
- Review the difference between “wants” and “needs.” Focus first on meeting all of your “needs,” and budget for your “wants.”
- Remind yourself that worrying about finances doesn’t change your situation, and may lead to feeling worse.
- Identify potential ways to increase your income by decreasing your expenses and supplementing earnings.
- Embrace your abundance, rather than focusing on scarcity.
- Examine your fears—what’s truly getting in the way of having a healthier relationship with money?
- Reframe and distance yourself from your fears.
- Normalize the concerns that you have about money, since most everyone does.
- Distract yourself with healthy coping behaviors.
