Has the recent news of financial meltdowns in America left you feeling anxious or worried? While these feelings can be emotionally exhausting they can also have an impact on your health. According to a study by Paul Lavarkas of Ohio State University, people who had a higher rate credit card debt suffered more heart attacks, insomnia and emotional distress than people with lower or no credit card debt.(Lavarkas & Drenta,2002). Worry over finances can lead to increased conflict among partners, or can turn inward into depression or anxiety.

Worries about money are rarely just anxiety over finances. Developing a relationship with a therapist can help you to discover some of the unproductive ways you may be viewing or using money, how this developed, and how to overcome it. You may overspend when you shop because it lets you forget about a bad day.  You may finance big purchases because you feel like you deserve it for your hard work. Maybe you grew up in a fiscally stressed household and as a result became a very thrifty person, to the point that you don’t allow yourself any extra for luxuries, resulting in poor self-care. Whatever the case may be, a relationship with a therapist can the first step toward working on the tools for developing a healthier attitude toward finances

There are several ways that you can manage these worries. One way to help calm down is to turn off the news! Try to avoid watching cable or local news shows that increase your anxiety level. Simple lifestyle changes can lead to a healthier relationship with money.  Cut out daily expenditures such as daily dining out for lunch or buying coffee on the way to work. Put the money that you would have spent on these “little treats” into savings or use it towards paying off debt. You can even earn money in creative ways. Clear out your clutter and have a yard sale. Take old children’s clothes or toys to a consignment shop. Place some of your forgotten treasures on Craigslist or Ebay.

If you feel that you are becoming overwhelmed by your anxiety or depression about finances, and would like to learn tools to cope with this, please consider a FREE CONSULTATION with one of the Counselors in Orlando at Life Skills Resource Group.

Article by Jessica Stage, MSW, Registered Clinicial Social Work Intern at Life Skills Resource Group for a FREE CONSULTATION or to set up an appointment with Jessica Call 4077214834 or Email jesmsw@gmail.com

Lavarkas,Paul and Drenta,Patricia. Debt Stress and Health Linked (2000) Journal of Social Science and Medicine

Lavarkas,Paul and Drenta,Patricia. Debt Stress and Health Linked (2000) Journal of Social Science and Medicine