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Counteracting Economic Stress For A Healthier You
Here are some tips on how to combat stress caused by the current financial turmoil.
by Manda Turetsky, MS, MBA
October 20, 2008
S
tress is a necessary and integral part of human life. A little stress periodically helps
us to get up on time, challenge ourselves and accomplish our goals. But too much stress,
particularly over prolonged periods of time, can be unhealthy - causing disruptive mental and
physical symptoms, and even long-term health consequences such as heart disease.
Typical,
healthy stress appears when we need it; it gives us the energy and drive needed to act in a
particular situation, and dissipates when the need has passed.
Stress can be caused by both internal pressures (our own ideas about how we should perform
life's tasks) and external events (things that happen around us). Most of us feel occasional stress
in situations at work, school, volunteer commitments and family relationships. During difficult
economic times - such as the current financial crisis - individuals and families may be feeling
additional stress and fear from the state of the economy.
Economic stress can be triggered by actual stressful experiences - the loss of a job or
home, for example, or major changes to the family budget. Anticipated or possible events, however,
can be just as stressful as actual happenings. The fear of losing a home or economic security can
be just as stressful - and sometimes more so - than the actual events. Even when a family's assets
and security are not in immediate danger, the constant negative news reports and experiences of
others can have a cumulative stressful impact.
This might include common symptoms of stress: trouble sleeping, digestive ailments,
unexplained weight gain or loss, inability to enjoy regular activities, severe anxiety or even
panic attacks. It may also include economic-specific symptoms such as hyper-focusing on financial
issues (the inability to get money problems off your mind), avoidance behaviors (such as letting
unopened bills pile up,) or self-destructive denial (for example, spending excessively while
ignoring reasonable limitations).
Couples may notice that they are fighting more often about money, or frequently criticizing
one another's financial habits. Women may feel additional pressures as income-earners and
caretakers of the family. Many women serve as the primary manager of the household budget and/or
the family's daily spending, so enforcing tighter restrictions while reassuring children can cause
stress for working and stay-at-home moms alike.
Here are some basic strategies to combat economic stress:
•
Prioritize and Plan. Difficult economic times are scary, but they are also a great
time to take time out to assess the state of your finances. Meet with a financial advisor for
assistance, or simply take a close look at the household budget to see where simple changes can be
made to save money. This is a good time to prioritize both long- and short- term financial goals
and create a plan for reaching those goals - one month at a time. Having a plan in place will help
you to feel more secure and in control.
•
Communicate. It is so important to include all household members in the creation
and implementation of the family's financial plans. Couples should work together to establish
priorities, and even children can be included in budget-planning in age-appropriate ways. Frequent
communication about financial issues can help everyone to feel safe and reduce family arguments
over money.
•
Do What You Can, then Move On. Some of the most stressful situations are those in
which we have no control. But the truth is, we cannot individually control the state of the
economy, and even our own personal finances will take time to change. Constant worrying about
finances, especially when all reasonable actions have been taken, will only increase stress; this
"extra worry" will not improve the situation. Limit worrying time to one or two specific times each
week, and then force yourself to let it go.
•
Change the Focus. One great way to stop worrying about the financial situation is
to change the focus to other important parts of life. Spend time doing things you love,
particularly things that are inexpensive or free. Hard times can be a perfect opportunity to
unleash your creativity, spend quality time with friends and family, or reconnect with spirituality
or community activities.
•
Think Positive. Our thoughts are powerful - they impact the way we behave and
feel. By focusing your mind on positive ideas and outcomes, you can decrease your stress level and
improve your outlook on life. Focus on your strengths rather than the difficulties, on
possibilities rather than fears. Spend time each day affirming that you will be able to handles
each of the challenges you face, and reminding yourself of the good times that lie ahead.
Manda Turetsky, MS, MBA is a therapist, life coach and author based in Atlanta, Georgia. She is the author of “Running (Together) on Empty: Helping your Family Stay Happy and Healthy During Difficult Economic Times.” The book is available for download at www.flourishconsulting.com/publications.html.
