Top 10 Tips for Managing Financial Anxiety
Posted on January 19, 2017 by Lumka Khaile, One of Thousands of Money and Finance Coaches on Noomii.
Anxiety can be the motivator of positive action, which, in turn, reduces anxiety.
Although uncomfortable, anxiety can motivate positive action. And by taking that action, our anxiety lessens. Here are a few proactive strategies and other tips that you can use for managing financial anxiety.
1. Acknowledge your role. If you made a questionable financial choice, face it, understand why you made the choice, forgive yourself and then let it go.
2. Take action. Confront your situation and take appropriate steps, whether that’s negotiating with creditors, living frugally or seeking other sources of income.
3. Find pleasures you can afford. When reducing expenses, don’t cut to the bone. Eliminating all treats can reintroduce scarcity, and anxiety, into your life.
4. Face any money issues. Seek support and guidance in coaching, Debtors Anonymous and books on the subject.
5. Give yourself a break. It takes time to get used to new circumstances. Accept your feelings and reassure yourself that things will get better.
6. Focus on the good. When fear arises, remember the stability in your life: your savings, spouse’s income, your own good health. Be grateful for what you have and positive things that money has done for you.
7. Take time out. Warm baths and hot tubs can soothe the nervous system.
8. Try exercise, yoga and meditation. All three can lower stress and help you refocus.
9. Talk to positive and supportive friends. Confide in someone who doesn’t react to your anxiety but is supportive and objective. Be specific about what you expect of them – listen, advice, share opinion, brainstorm – and let them know.
10. Get medical help, if necessary. If your anxiety is debilitating, see your doctor or therapist.
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