During pandemic, we all have our own financial worries. Worrying about putting food on the table, worrying whether our job will be at risk, worrying if we will be unemployed overnight. It can get too much, overpowering us, causing anxiety and stress.

One of the posts I’ve come across sum it up perfectly with sound advice, check it out below:

Anxiety. We’ve all likely experienced feeling anxious at some point in our lives, after all it’s our body’s natural response to stress, and let’s face it, a life without stress is like a big night out without the hangover-pretty hard to come by.

What happens though when we allow that stress and anxiety to overwhelm us? Long-term anxiety increases the risk of physical illness and other mental health conditions such as depression. According to NICE , mixed anxiety and depression is the most common mental disorder in Britain -and that was before covid.

Anxiety can take form in many shapes and sizes and as the coronavirus epidemic drags on, bringing with it a tsunami of uncertainty to our lives. Many people have either lost their jobs, face losing their jobs or experiencing financial difficulties.

The anxiety around finance is arguably more prevalent than ever before and because of this, it too, is vital we address these anxieties, identify and understand what seems to be causing them as well as looking at the proactive steps we can take to tackle it.

Financial anxiety is a feeling of worry, fear, or lack of ease about your finances. It can be caused by a number of different reasons such as generalised anxiety disorder and can present itself at any time. This could be waking up in a panic in the middle of night or getting distracted from focusing on your day-to-day activities due to overriding thoughts about money.

Trade-offs for eliminating your anxiety around finances

Do not avoid the situation. Ignorance is not bliss when it comes to our finances and for those of us who bury our head in the sand in the hope our troubles will not bother us are sadly mistaken. Being in denial about your finances and reacting by not checking your bank account balance or not opening the brown envelope that just came through your door won’t help your situation and it sure as heck won’t make it go away.

What you will allow, is what will continue


Do trade avoidance with acknowledgement. This is the first step in taking control, by being consciously aware you are proactively responding to the situation. It’s important that you ask yourself what about your finances you were avoiding in the first place. Was it debt? Saving for a house? Worrying how you’ll pay the rent? There are many reasons but you owe it to yourself to own up to the one that is bothering you. 

Do not be in denial about your situation. Once you’ve acknowledged what is causing your financial anxiety do not react by running away from it. If you do this, you will not be able to fix the problem and subsequently move forward but rather you’ll be stuck inside a vicious cycle of financial woe.

Do trade denial with acceptance. Accepting the problem means you are better placed to be proactive in your situation. Acceptance is a powerful antidote for denial and once we learn to accept our situations and what may come thereafter, only then can we begin to focus on being proactive.

Do not get a quick fix, such as take out a loan to pay off your debt, or turn to heavy alcohol consumption as a way of dealing with your emotions, these things won’t help you deal with your problems and could add to your stress. Overcoming a problem won’t happen overnight, it’s going to take time and you’ll likely have to become more competent with your finances rather than rely on these quick fixes, which are just temporary and inadequate solutions.

Things to consider:

  • Do not avoid and deny your situation
  • Do acknowledge and accept your situation
  • Avoid returning to old habits at all cost

Do trade quick fixes with commitment. This means committing yourself to solve the problem, not temporarily fix it but to really unearth and identify what that problem is and how’s best to proactively move forward. Financial stuff can be littered with fancy words and terms that most of us don’t really understand and that’s perfectly ok! This is why it’s important to educate ourselves on what those words actually means so we have a better understanding of what exactly it is.

Do not return to old habits. It’s vital you don’t regress back to your old habits because all your efforts would have been in vain and most crucial of all- your mental health will suffer. It’s very easy to fall back into old habits which is why it’s important to remain conscious of your financial decisions at all times.

Do trade old habits with new habits. Once you’ve committed yourself to solving your financial problem, you are investing in your ability to succeed in life. Rather than be reactive to your situation you are now proactive and subsequently have formed a good habit that will propel you forward in life rather than hold you back like your old habit once did.

Read more about mindfulness exercises for alleviating financial anxiety here.

Enjoying this guest post? Here are some more just for you:
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Guest Post: 5 Confessions of a Young *almost* Professional
Guest Post: Midlife Career Shift – Are You Afraid to Take a Big Leap? by Sharukh Bamboat

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35 replies on “Guest Post: What is financial anxiety? Simple trade-offs for eliminating your anxiety around finances

  1. Some of the things you suggest are helpful. When we were in a financial crisis, the first thing we did was access our situation. I was a stay-at-home Mother and after being out of the workforce for 10 years finding work that would give us more $$ than child care wasn’t going to work. We both quit smoking! Money saved. We cut our food budget by as much as we could and still stay reasonably healthy. No new clothes, fortunately, I could sew. Hubby held down two jobs, it made long hours for him and he brown-bagged it. So did the kids for lunches. Those are some things people can do, however, most won’t give up those things they enjoy, and feel they deserve. The world doesn’t owe you a living.

    Liked by 6 people

    1. Buying cheaper groceries will help tremendously too. I find that I tend to gravitate towards the big brands when the unknown brands are just as good.


  2. Such a good guest post. I like how the post says on stress and anxiety, that we cannot live a life totally free of them but knowing how to react and deal with when they show up is key. I’ve struggled with the same financial pressures last many months and resonate with the action steps listed to deal with stress and anxiety. Thanks for sharing.

    Liked by 2 people

  3. Wise words. When my husband died and I found myself looking at a wall of debt I had to learn better ways of handling my finances. When I lost my job, I had to return to the more structured ways and adjust my wants against my needs. Turns out my needs aren’t as many as I once thought and my wants much less important.

    Liked by 1 person

  4. As always, sage advice, Kally.
    “Therefore I tell you, do not be anxious about your life, what you will eat or what you will drink, nor about your body, what you will put on. … Look at the birds of the air: they neither sow nor reap nor gather into barns, and yet your heavenly Father feeds them. Are you not of more value than they? And which of you by being anxious can add a single hour to his span of life? And why are you anxious about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin, yet I tell you, even Solomon in all his glory was not arrayed like one of these. But if God so clothes the grass of the field, which today is alive and tomorrow is thrown into the oven, will he not much more clothe you, O you of little faith? Therefore do not be anxious, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ … Your heavenly Father knows that you need them all. But seek first the kingdom of God and his righteousness, and all these things will be added to you.” Matthew 6:25-33

    Liked by 1 person

  5. So true. It’s hard to accept the fact that I am not 100% financially stable anymore coz of covid but eventually I did and finally asked the government for help. Sometimes pride can get in the way so to stop stressing out we need to accept the fact and ask for help.


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