How to Overcome Financial Anxiety

Posted by Nailah Herbert in EmotionsNovember 17, 2020(Last Updated December 29, 2022)2 min read
Key Takeaways
  • If you have ever felt fear or worry regarding your money, you may have experienced financial anxiety.
  • Acknowledging your feelings can help you understand where your financial anxiety stems from.
  • Planning out your finances and seeking help can help you get your financial anxiety under control.
Are you ready to make some real money moves?

Financial anxiety doesn’t always stem from a lack of having money. If you have ever felt fear, uneasiness, or been worried about your money, you may have experienced financial anxiety. When you avoid financial tasks like paying your bills, are hypervigilant about your money, or avoid treating yourself to something nice, you may have experienced financial anxiety.


It can feel impossible to face the reality of your finances or even plan for your future when you are in a state of fear or worry. Here are four tips to alleviate your financial anxiety.


Acknowledge Your Feelings


The first step to improving your anxiety is by acknowledging how you feel about your money. When you can recognize the emotions associated with your money, you can comfortably calm your fear and navigate financial difficulties with ease.


Whenever you feel anxious about your money, ask yourself these four questions, and write down the answers so you can identify your triggers and seek the best possible solutions.


Question 1: What am I feeling in this present moment about my money, and why?

Question 2: Where is my financial anxiety coming from? (i.e., money scripts, childhood trauma, etc.)

Question 3: How can I change or better control my financial situation?

Question 4: When did I start experiencing financial anxiety? (Write down the time, place, who you were with, and the emotions you felt in that moment if you can remember)


person stressed out


Adjust Your Mindset


Positive thinking goes a long way. One huge step toward thinking positively about your money is to be grateful for what you already have. It sounds cliche, but gratitude is a powerful emotion when thinking about your finances and overall life. Being thankful for your job, paying the bills on time, and buying groceries for your family is an accomplishing feeling. Take time to celebrate all the things you can achieve with your money.


Plan Out Your Finances


Studies show that people who have a plan for their finances are less likely to feel financial anxiety. A budget is a surefire way to get your finances on track and help you plan for your future. Having a budget will help you to see a clear picture of your financial state.


Having a plan for your finances is also a part of money management. Three money management skills that will help your financial mindset are learning how to set savings goals, paying off your debt, and using the best investment strategies that fit your lifestyle.


Ask for Help


Don’t be afraid to ask for help or guidance. Lean on your support system, whether it’s friends, family, or your medical provider. Your health comes first. Seek help to identify your financial triggers by talking to a therapist or trusted friend who can listen without judgment and provide solutions to your problems.


Main Image Credit: Giphy

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