Feeling stressed about money? As many as 8 in 10 people are. When it’s severe, it can lead to symptoms like:
- Feeling angry and irritable
- Feeling tired all the time
- Trouble sleeping
- Upset stomach
- Muscle tension
But money stress isn’t always about what’s in your paycheck or bank account. It can also be about how money makes you feel—having, earning, and spending it. And how you cope with those feelings.
Financial hardship, medical or other debt, or living through an economic crisis can lead to a lasting emotional response that isn’t fixed by simply having more money. Some experts call this financial trauma.
What financial trauma looks like
Some people worry about every penny they spend. Others avoid thinking about money at all. They might:
- Spend beyond their means
- Forget to pay bills (or refuse to look at them)
- Never save or invest money
- Put off needed spending
- Refuse to create a budget or talk about money
How to navigate financial anxiety
Avoiding money issues that stress you out worsens things overall. That can lead to more anxiety. For example, not looking at bills can lead to late fees or interest. Ignoring a health issue or household repair could leave you with a bigger, more expensive problem.
- Understand your triggers. Consider what’s at the root of your money fears and anxiety. What tends to set you off on unhealthy patterns of thinking or spending? Knowing that can help you to address what you’re struggling with.
- Let go of shame. Remind yourself that your financial situation does not determine your worth as a person.
- Find somebody to talk to. Talking and sharing with someone you trust can also help to break through some of the shame and stigma around money.
- Set yourself up for success. If you’re careful with money but sometimes forget essential things around the house, like changing furnace filters, you could sign up for a service that automatically buys new filters when needed. If you often spend too much, delete your saved credit card information from online shopping sites.
- Create a financial plan. Take a close look at what’s really going on with your money. It can remove some of the fear. If you have a partner, consider doing this together. You can find free and affordable budgeting tools online, but be cautious of scams.
More mental health support
If you have anxiety, panic attacks, or PTSD/trauma symptoms that are severe and don’t go away with things you’ve tried on your own, treatment can help. Freespira is a 4-week treatment that relieves panic attacks and PTSD symptoms without medication or doctor’s visits. You can use Freespira right at home. It involves twice-daily practice sessions on your schedule, weekly check-ins, and support from a dedicated coach.
To see if Freespira is right for you, answer some questions about your symptoms.
