What Is Financial Anxiety and How To Deal With It
As someone once said, “ Money doesn't buy happiness, but it can buy you comfort, entertainment, and stability, which makes finding happiness much easier.”
The relationship between happiness and money is complex. There have been debates about what money can and can’t buy, but certainly, having enough money in your bank account is better than having none. Whether you have enough money or not, your financial status undoubtedly plays a vital role in your happiness and wellness.
Money’s Role in Life Satisfaction
Each person has their own definition of happiness. Some people find happiness when spending time with family and friends, while others feel happy after acing a test or presentation.
There is no one way to define happiness, but financial success does significantly impact how you act, think, and feel. Even if you don’t value money above other things, your finance will have some effect on your happiness, one way or another.
Money Troubles Can Cause You Trouble
Stability—one thing that everyone dreams of, but not everyone can afford. In a perfect world, everyone would have no worries about money and no debts and interests to worry about. Unfortunately, that is not the world we live in today. To many people, financial stability is only something that will remain a fantasy, a far-fetched dream they hope to achieve in their next life.
In the society we do live in, many people have difficulty securing, managing, and spending money. Chances are, you have countless friends and family members who are constantly worried about money, whether it be about budgeting, paying for bills, or calculating how much they have.
Although money does play a part in giving happiness, it also contributes to many people’s problems and anxiety!
Breaking Down Financial Anxiety
You’re not alone in having a negative relationship with money, as many other Americans also suffer from financial anxiety. Financial anxiety may not be recognized as an official diagnosis, but financial therapists and planners consider it a serious condition that needs to be addressed.
Anxiety is a normal human experience that people feel when exposed to various stressors. Financial anxiety, on the other hand, is only specific to matters related to money. A person with financial anxiety only tends to feel nervous or anxious when the topic of money is brought up or whenever they think about their finances.
How to Deal with Financial Anxiety
Just like clinical anxiety, you can also overcome financial anxiety. By trying the tips below, you can change your relationship with and attitude towards money so that you can live a stress-free and happier life.
Talk to Someone
You don’t have to face your money problems on your own and bottle things up. Keeping your feelings to yourself can significantly harm your mental health and prevent you from performing your daily activities well!
It’s understandable to feel awkward when talking about money, but discussing your financial worries with someone you trust can ease your burden and help you make sense of what you’re going through.
Seek Professional Advice
If you’re having difficulty managing your money or figuring out how to come up with solutions to your financial troubles, you can ask the help of a financial advisor!
Many black financial advisors are equipped with experience and knowledge on all things about money—they can give you practical advice and create a plan to solve your problems one by one effectively!
Make a Financial Plan
Instead of denying the reality of your situation, you should instead create a plan that will help you fix your money problems. By making a financial plan and following through with it, you’ll be able to turn your life around eventually! For a successful financial plan, seek advice from your financial advisor and read the best finance blogs.
Money doesn’t have to be the bane of your life—by facing your worries and conquering your fear, you can overcome your financial anxiety and achieve financial freedom! As long as you reach out to the best black financial advisor and follow our guide, you will achieve happiness and stability.
Do you want to overcome your financial anxiety? urbanwallet® can help! As one of the best finance blogs, we strive to provide valuable financial literacy tips you can use to build wealth. Check out our guides, our recent content, and start adding more commas to that savings account!