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How To Deal With Financial Stress

Posted by MoneyKey on June 29, 2018
We all know that stress can affect us in our day-to-day lives. Scientists have confirmed that chronic stress – any prolonged pressure or demand placed on our brains and/or bodies – negatively affects our immune systems and thereby promotes the development of diseases. You may be wondering whether money woes can have an impact on our mental health. Yes, the stress we experience from financial hardship can have a substantial negative impact on us. If you feel stressed about your finances, read on as the tips provided here may be able to help you see your situation in a more positive light!

Focus on positives

Sometimes we become stressed about our finances either by our own bad spending habits or because of traumatic events such as accidents, natural disasters and medical emergencies that put an unexpected strain on our pockets. Whatever the case, experts say one of the worst things you can do is constantly dwell on how bad things are and stay in a “woe is me” mindset which only serves to worsen an already glum situation. Instead, it is best to try to find the bright side to a situation, which in turn allows you to see more possibilities and seize any opportunities that may be created by the less than ideal circumstances. In the words of best-selling author Dennis P. Kimbro, “Life is 10 percent what happens to us and 90 percent how we react to it.”  

Keep Yourself Occupied

Sometimes, staying in is a great way to reduce spending, but doing so doesn’t mean you have to always be stuck at home. You can use the time to go for walks in the neighborhood to see and experience things you otherwise would not have time to. Take pictures of these experiences, log them and post them online. You might uncover a hobby in the process. A cleaner environment can help to lift your spirits too. With the extra time you have, why not clear your home of clutter? Throw out things that don’t work and sell stuff you no longer want that may be of use to someone else. Holding a yard sale is a great way to make extra money when you’re short on cash. You can also consider giving a few things away since the act of giving not only helps someone else but may also put you in a better mood. You can also search online to find a lot of fun things to do that require little to no money. These activities will keep you busy and help keep your mind off negative thoughts. Constantly thinking about your predicaments may be one of the largest contributors to mental health issues – it is linked to depression, anxiety, and post-traumatic stress disorder. Psychologists have a term for this. It’s called ruminating or constantly replaying negative situations in your mind like a broken record. Staying occupied will reduce rumination which can, in turn, relieve feelings of financial stress.  

Follow Your Passion

Having more free time can give you opportunities to focus on what you’re passionate about. Do some research to see how you might be able to monetize your passion. You can potentially get money-making ideas from watching TV, like an episode of your favorite program, the news, an infomercial or a commercial. Even if you don’t, you might at least stumble upon a cooking recipe or be entertained by an action-packed program. The point is to just find something to keep yourself occupied and to lift your spirits, something positive that may or may not lead to a huge money-making breakthrough.  

Reach Out

In the unfortunate event that you are faced with the possibility of eviction and/or bankruptcy, try reaching out to a relative or friend who understands your situation and can be there for you when you need them. Remember that no situation you find yourself in will be permanent. It may seem bad at the time, but try to focus your thoughts on potential positive outcomes. Make filing for bankruptcy your last resort. Even if you have to file for bankruptcy, there can still be a bright side to the process, like getting rid of annoying collections calls and having an opportunity to start over – an opportunity to rebuild your life.


Disclaimer: This article provides general information only and does not constitute financial, legal or other professional advice. For full details, see MoneyKey's Terms of Use.

Posted in: Lifestyle

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