Mental Health Takes a Beating from Money Stress

Take little and helpful steps now to help reduce anxiety in the future

Photo by Joice Kelly on Unsplash

Financial anxiety and stress are common struggles that affect people from all walks of life. This is worse when there is little time to pause and reflect.

Rising costs of living, unexpected expenses or concerns about debt compound money worries that can take a huge toll on mental health.

Jordan Rosenfeld, senior writer with GoBankingRates, joined financial experts at consumer credit reporting company, Experian, to look at financial anxiety and stress, and suggest coping mechanisms to manage money worries.

Common triggers of financial anxiety include unexpected expenses, debt, job insecurity and lack of savings. These can manifest in day-to-day life as constant worry, difficulty sleeping, avoiding financial decisions and strained relationships.

Good Money Habits Start With a Financial Health Check-In

“Bills, debt, unexpected costs and fighting with your partner about money are all triggers of financial anxiety,” Rosenfeld said. “These can manifest as emotional distress, hypervigilance about money or engaging in negative habits such as ‘retail therapy’ or denial and avoidance.”