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What Is Financial Anxiety and How Do I Move on from It?

Money struggles can be tough. It’s not uncommon to feel a little nervous when you think about bills, not having enough in savings, or unexpected expenses. That's what we call financial anxiety – that uneasy feeling about your financial situation. But don’t worry, you're not alone, and there are ways to tackle it head-on and still thrive financially.

What is financial anxiety?blur-businesswoman-caucasian-941555

Financial anxiety can manifest in different ways – from feeling stressed about paying incoming or late bills to even feeling overwhelmed by big financial decisions. It's totally normal to feel this way, especially when money is tight or when you're facing uncertainty. However, if your anxiety is forcing you to avoid your financial troubles, that can lead to problems down the road.

How to approach financial anxiety.

Facing any type of anxiety can seem daunting, but facing it head on and being proactive is the best way to ensure your anxiety doesn’t cause damage that would take years to repair. Here are some tips to help you deal with it:

  1. Acknowledge your feelings: The first step is recognizing that you're feeling anxious about money. It's okay to feel this way, and it's essential to acknowledge your emotions instead of pushing them away. Don’t avoid them!
  2. Identify triggers: Try to pinpoint what exactly is causing your financial anxiety. Are you behind on bills? Is it a lack of savings? Is your debt piling up? Understanding your triggers can help you find practical solutions.
  3. Create a budget: A budget is your best friend when it comes to managing money. It helps you track your expenses, prioritize your spending, and stay on top of your financial goals. Knowing where your money is going can alleviate some of that anxiety.
  4. Seek support: Don't hesitate to reach out to friends, family, or a financial advisor for support. Talking about your worries can lighten the load and help you gain perspective. It’s easy to get lost in your own thoughts, sometimes talking to someone makes you realize you have more control than you think.
  5. Practice self-care: Remember to take care of yourself amidst the financial stress. Whether it's practicing mindfulness, exercising, or indulging in your favorite hobbies, self-care is crucial for maintaining your well-being. Let that stress go!

How to overcome your anxiety and be proactive in your financial health.

Now, here's the good news – you can still achieve financial success even with some anxiety tagging along. Here's how:

  1. Set clear goals: Define what financial success means to you. Whether it's building an emergency fund, paying off debt, or saving for a big purchase, having clear goals can keep you motivated and focused. *Pro Tip: Start with setting goals about what’s causing you the most anxiety. Working toward fixing it will help alleviate some of those feelings!
  2. Take small steps: Rome wasn't built in a day, and neither are your finances. Break down your goals into smaller, manageable tasks, and celebrate each milestone along the way.
  3. Stay consistent: Consistency is key to financial success. Make budgeting and saving a habit, even when it feels challenging. Remember, every little effort adds up over time.
  4. Focus on what you can control: While there are many things beyond your control, focus on what you can influence. That means making smart financial decisions, adapting to changes, and staying resilient in those stressful times.

 The root of anxiety is often the unknown. So, the more you know, plan for, and work to get rid of, the less anxiety you’ll feel. Take control of your financial situation – and your life!

Financial anxiety may try to throw you off course, but with the right mindset and strategies, you can overcome it and thrive financially.