“Money issues are troubling and can be a generator of high levels of stress that can compromise all aspects of our lives”
The worry associated with dealing with a financial crisis can be overwhelming, especially when it’s a global issue from severe economic downturns. How we react will vary between individuals and some many be more concerned than they were previously. The extent of the crisis will have implications too, whether it’s similar to the 2008 financial crisis or the outbreak of the PPI scandal.
It has an impact when you consider it could affect your home or savings which previously seemed like a secure investment.
Put negative thoughts aside and reframe everything:
Whilst the financial crisis is in full swing, you might be feeling an increase in stress levels and will no doubt be desperate to take the burden off your own shoulders. You may feel personally responsible for the struggle which is impacting yourself and your family, but it’s extremely important that you remember this is a global issue with many people in the same situation. The key aspect is to reframe your outlook and rather than look at all the negatives, strive to develop a solution to help you recover.
Even though, you might be feeling a financial strain, your family might be experiencing the same emotions. It’s the perfect opportunity to enhance the bond between family members to work together. You can reassure them that the financial crisis will only be a temporary situation and that you will weather the storm together.
By having positive thoughts and using them to filter your current situation, you can start having a clearer view of the situation and can use this new found calm to plan your strategy better.
Keep it cool
It is normal to despair during a financial crisis and you’re entitled to feel a mixture of emotions. Once the dust settles from the financial crisis, you need to calm down and start thinking about possible outcomes.
If your financial crisis is stressing you out to unexpected levels, it is vital – not just to have a clear mind to fix your problems, but also to look after your health – to seek solutions that make your mind and your body feel at ease. Some expert recommendations are:
Progressive muscle relaxation (PMR)
A fast-acting stress relief method that’s extremely effective to enhance a relaxed body. The method involves tensing and relaxing all the major muscles in the body. The idea is after intense contraction, you will engage in full relaxation of each muscle. In addition, this method has also shown to be effective for psychologically reducing stress on top of physiological benefits too.
Blogging / Journaling
If you’re feeling stressed and the impulse to undertake a task to switch how you’re thinking is strong, then blogging or journaling will allow you to express your frustrations and will fast become a relief point which allows you to view your problems in a new perspective. This new viewpoint may help create a more positive attitude and approach to overcoming the situation.
Many types of exercise focus on the importance of breathing and it is a technique which is specifically designed to relieve stress. It’s the perfect solution to use anywhere without anyone noticing and can calm your emotions within a few short minutes.
Any financial crisis is going to have a huge impact across the globe and the key factor is how you’re actively approaching the subject. Each point to help deal with the stresses caused by a financial disaster is designed to help you see opportunities to overcome any financial struggles.
It’s important to be aware that you’re not the only people in this type of situation, meaning your family and friends might be able to offer the perfect assistance to get you through it. Whether it’s loan repayments or other financial obligations, understanding your current situation and value will allow you to re-organise your finances.
If reaching out to family for help is not an option, then professional help can be a viable solution. It can be in the form of financial advisers or mental health professionals, but this is a much more personal decision.