If you ever find yourself feeling stressed and anxious when you think about your finances, it’s really important (as with any stressful time) that you acknowledge how you’re feeling and know that there are simple mindful exercises you can do to help alleviate some of your anxiety. It’s useful to remind ourselves of these straightforward practices so that we become more conscious of when we should implement them.
- Write it down in words. Simply writing down your thoughts and feelings can help you understand them more clearly. During times of stress, anxiety and depression, keeping a journal can be a great idea. Not only are you getting your feelings out there but it can help to gain control of your emotions and improve your mental health. Read my blog on steps to process your emotions through therapy writing here.
- Remember you are not alone in how you feel. You may feel that you are the only person who has ever felt the way you do and that no one could understand how you’re feeling but chances are there are many others out there who do. Knowing this can offer great strength during these times. Fincap research found that 39% of adults (that’s 20.3 million!) don’t feel confident managing their money. 11.5 million have less than £100 in savings.
- Get familiar with what it is you are unsure about so you become more competent. This will put your mind at ease by taking away the fear of the unknown. By familiarising yourself with the financial industry you will find it less intimidating and become more aware of your options. We are living in a digital world where technology has the power to do many things, including changing the world we live in and the way we live too. So google, listen to a podcast or download an app that will help you to do just that.
- Exercise and meditate. While these won’t cure your anxiety they have the power to alleviate it as many studies have shown. Just by exercising for twenty minutes a day can make you feel better and improve your anxiety levels. Meditating has been shown to decrease psychological stress and increase coping ability. Check out this mediation for anxiety here.
- Don’t compare. Life is hard enough without comparing yourself to other people, especially when it comes to your finances. This is especially true when it comes to money. Don’t assume a person is happier because they are financially more stable, stay in your own lane and focus on your journey. Be self-aware that you are making judgements about yourself based on what other people are doing. Yes, it’s good to be inspired by someone, but it’s important to recognise if that inspiration is in effect envy.
- Be grateful. This may be harder during the times when you’re not feeling so great about life and that’s ok but having a little chat with yourself to consider all the smaller things you are grateful for can make you feel more positive about the future. Don’t ever be too hard on yourself, remember that everybody starts their journey at different points, focus on you being you and be sure to be kind to yourself along the way.
Want to read more? Simple trade-offs for eliminating your anxiety around finances