It doesn’t matter if you have a five-figure salary or you have millions of dollars, money is something everyone stresses over on occasion. When funds aren’t right it can be traumatic as it impacts your life. The loss of a job, the threat of a foreclosure, the inability to cover all your bills, growing up broke, any of these common financial encounters can make someone anxious. The anxiety can be so deep that it alters a person’s way of life and relationship towards money.
Signs You’re Suffering From Financial Anxiety
If money gets everyone uptight at times, how do you know when you’re dealing with anxiety? Someone who could be dealing with financial anxiety might exhibit the same symptoms as a person suffering from general anxiety disorder. This can include increased heart rate, nervousness or shaking, sweating, panic, and more. Other signs that your relationship with money may need to be evaluated include:
For some individuals, their anxiety manifests in their poor money habits. Though they fear and stress over not having enough money, they find relief in spending frivolously.
When you spend your money on things you don’t need to escape your anxieties, the purchases tend to take up a lot of space in the home.
The anxiety that comes from not having enough money can push some to be very selective or even cheap in their purchases. They will often take frugal living to the extreme going without things they might really need just to make sure they have cash on hand.
Covering Up Your Actions
When you’re in a relationship or share financial responsibilities with someone while suffering from financial anxiety, you may end up doing things to cover up your actions. Withholding financial information, lying about money, and even going into debt to try and mask your spending habits.
What to Do About it?
Do you believe you could be suffering from financial anxiety? If so, there are ways to ease your symptoms and change your relationship with money going forward.
- Take CBD to relieve anxiety – CBD has been dubbed the new miracle chemical by many. Derived from the hemp and marijuana plants, CBD is a cannabinoid that has been attributed to treating many things. Does CBD cure hangovers? Yes. Can you improve your study focus from cbd? Yes. Has CBD been known to treat chronic pain, epilepsy, cancer, and diabetes? Yes. It does all that and more – including treat anxiety. Taking a supplement a day can help to ease those fears so that you can try and build a better relationship with money.
- Combat Debt – A big part of the reason that holding onto money or having enough to survive is so hard is debt. Review your finances to determine how much debt you have. Then start working on a repayment plan within your budget to get those debts down faster.
- Start Saving – Not having a dime to your name is traumatic – especially if you need to survive or cover an emergency. You can ease your anxiety by saving. Whether it’s $5 a week or $100 a month, having that cushion to fall back on can give you peace of mind.
- Get Educated – Perhaps you’re not aware of where you’re going wrong, how to best make your money work for you, and how to set yourself up for a solid financial future. If this is the case, consider getting educated on it. Read blogs from reputable sites, talk with a financial advisor, or take some financial classes to enhance your understanding.
Financial anxiety is very real and happens to a lot of people. If thinking about money or discussions on money worries you to the point you’re mismanaging funds, putting yourself in debt, ruining your relationships, or simply not living, you need to learn how to deal with it. Getting rid of your anxiety and adopting new ways of managing your money can push all those fears away.