Dealing with Financial Stress: Notes from a Denver Psychotherapist
Three out of four adults feel stressed about money, and two out of three say the economy contributes significantly to their stress, according to the American Psychological Association.
How do I know if I am just worrying about the economy, or if I have an anxiety disorder?
“Economic anxiety” is a factor in many of our lives due to rising prices, the state of the economy and the recent loss of jobs due to outsourcing and layoffs. If you are worried, but still performing all of your daily life activities well, you probably have economic anxiety.
If you are solely focused on economic worry to the point that it is interfering with your life, you may have an anxiety disorder. People with an anxiety disorder experience the following: consistent worry; irritability; physical/emotional restlessness; difficulty sleeping; physical symptoms of headaches/gastrointestinal problems/muscle tension; exhaustion; nervousness; a sense of dread, worry about winding up with no home, job or money, even if that is not likely; having exceedingly fearful and irrational thoughts about the economy.
How do I deal with Economic anxiety?
• Limit the time you spend reading about the economy or watching TV regarding the economy.
• Speak with your financial officer, or chose a reputable one to discuss your budget, finances, savings, retirement funds.
• Focus on Budgeting wisely; do not make unnecessary major purchases; continue to put aside money from each paycheck for savings; shop wisely at stores where your money counts.
• Focus on paying off debt; consolidating loans and credit card balances to ones with lower interest. A non-profit accredited debt management program that is registered with the Better Business Bureau can assist you with this. Make sure that there are no hidden fees, the organization works within state regulations, and that the agency is able to provide you with ongoing financial management counseling at no cost.
• Spend your time focusing on the things you can change, not worrying about the things you can’t control! Worrying never changes anything; it simply makes you more worried!
• Recognize that the economy runs in cycles; recessions occur, and they are followed with improved financial times.
• Continue to take care of yourself physically and emotionally by having leisure time activities; continuing to socialize; getting enough rest and sleep; sound nutrition and not taking on too much.
• Continue to document your assets: financial; personal; social/familial and spiritual.
• Make a list of all of the times you have landed on your feet when there has been a challenging or difficult time.
• If you are concerned that your job is one that is in a shrinking market, schedule an appointment with a certified vocational counselor to investigate what skills you have that you could transfer to another vocation.
HOW DO I DEAL WITH AN ANXIETY DISORDER?
Anxiety is a physiological/psychological condition that is treated with medication and counseling that focuses on stress management. Schedule an appointment with your family doctor, and seek a counselor that is familiar with treating this condition.
This article was submitted by Bernadine Merker, Licensed Clinical Social Worker with Westside Behavioral Care in Denver, Colorado. For more information about Ms. Merker and the counseling services she provides, please visit her page on our website.
How do I know if I am just worrying about the economy, or if I have an anxiety disorder?
“Economic anxiety” is a factor in many of our lives due to rising prices, the state of the economy and the recent loss of jobs due to outsourcing and layoffs. If you are worried, but still performing all of your daily life activities well, you probably have economic anxiety.
If you are solely focused on economic worry to the point that it is interfering with your life, you may have an anxiety disorder. People with an anxiety disorder experience the following: consistent worry; irritability; physical/emotional restlessness; difficulty sleeping; physical symptoms of headaches/gastrointestinal problems/muscle tension; exhaustion; nervousness; a sense of dread, worry about winding up with no home, job or money, even if that is not likely; having exceedingly fearful and irrational thoughts about the economy.
How do I deal with Economic anxiety?
• Limit the time you spend reading about the economy or watching TV regarding the economy.
• Speak with your financial officer, or chose a reputable one to discuss your budget, finances, savings, retirement funds.
• Focus on Budgeting wisely; do not make unnecessary major purchases; continue to put aside money from each paycheck for savings; shop wisely at stores where your money counts.
• Focus on paying off debt; consolidating loans and credit card balances to ones with lower interest. A non-profit accredited debt management program that is registered with the Better Business Bureau can assist you with this. Make sure that there are no hidden fees, the organization works within state regulations, and that the agency is able to provide you with ongoing financial management counseling at no cost.
• Spend your time focusing on the things you can change, not worrying about the things you can’t control! Worrying never changes anything; it simply makes you more worried!
• Recognize that the economy runs in cycles; recessions occur, and they are followed with improved financial times.
• Continue to take care of yourself physically and emotionally by having leisure time activities; continuing to socialize; getting enough rest and sleep; sound nutrition and not taking on too much.
• Continue to document your assets: financial; personal; social/familial and spiritual.
• Make a list of all of the times you have landed on your feet when there has been a challenging or difficult time.
• If you are concerned that your job is one that is in a shrinking market, schedule an appointment with a certified vocational counselor to investigate what skills you have that you could transfer to another vocation.
HOW DO I DEAL WITH AN ANXIETY DISORDER?
Anxiety is a physiological/psychological condition that is treated with medication and counseling that focuses on stress management. Schedule an appointment with your family doctor, and seek a counselor that is familiar with treating this condition.
This article was submitted by Bernadine Merker, Licensed Clinical Social Worker with Westside Behavioral Care in Denver, Colorado. For more information about Ms. Merker and the counseling services she provides, please visit her page on our website.
posted by Westside Behavioral Care, Inc. at
1:39 PM
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