Stress and anxiety about the economy? Here are some ways to control it

Soaring prices, stagnant pay, utilities, family expenses and other financial burdens weigh in on most people’s lives, often affecting their mental health which goes unaddressed. The stress from the uncertainty of the economy around us keeps us tied to a constant state of heightened stress. So, here are some tips from the American Psychological Association (APA) to manage stress from economic factors affecting your life

Negative stories are routinely circulated in newspapers and on television about the state of the economy. Attention to what’s happening around you is important, but it is essential to refrain from getting caught up in doom-and-gloom stories, which can lead to anxiety and poor decision making. Avoid the tendency to overreact or to become passive to news. Remain calm and stay focused.

Understand your particular financial situation and what causes you stress. Elucidate in writing what specific ways you and your family can reduce expenses or manage your finances more efficiently. Then carry out a specific plan and review it regularly. This can be anxiety-provoking in the short term, however, putting things down on paper and committing to a plan can reduce stress.

Some people are pressured into relieving stress by turning to unhealthy activities like smoking, drinking or emotional eating. Conflict and arguments between partners may arise due to the strain from such behaviours. Ensure to recognise and seek help from a psychologist or community mental health clinic.

Periods of economic stress offer opportunities to understand your current financial situation and make the requisite changes. Consider utilising time and space to think out-of-the-box to find solutions to your problem that you have recognised. Spending time with your family or a physical activity may help you create the space that you require.

Financial planners and credit counselling services help you manage your finances. When you are mentally overcome by stress or anxiety from your financial worries, reach out to psychologists to address your mental stress and negative behaviours.