How to deal with financial stress

There’s no denying that times are tough at the moment, as the UK faces a cost of living crisis which is impacting almost every household and business.

And if you're worried about money, you’re certainly not alone. With energy pricing soaring, fuel prices at an eye-watering high and food more costly than ever before, financial stress is becoming an increasing concern.

Whether you’re worried about paying your rent or being able to put meals on the table, the mental and physical symptoms of financial stress can be incredibly debilitating.

We’ve created a helpful guide outlining how to deal with financial stress in the best possible way.

What is financial stress?

Financial stress is emotional tension or anxiety that is related to money worries or debt.

People of all ages can experience the impact of financial stress at any stage in their life. The symptoms of financial stress are similar to other kinds of stress and anxiety, including:

  • Shortness of breath or racing heart, particularly when you think about your financial situation
  • Avoiding phone calls and bills
  • Avoiding friends and family
  • Feeling out of control
  • Worry and hopelessness
  • Feelings of shame and embarrassment
  • Anger

How to deal with financial stress

If you’re experiencing financial stress, the steps below should help remove some of the anxiety and worry related to your money situation:

Don’t bury your head in the sand

Burying your head in the sand won’t make your financial worries go away. Instead, it can often make things worse. With this in mind, you should face your problems head-on and get the help, support, and advice you need to overcome your financial worries.

Although it can be extremely daunting, facing these situations will generally make them easier.

Stay active

Exercise is a great way to handle any stressful situation - staying active and participating in your favourite exercise has been proven to improve your mood, lower the symptoms related to stress and anxiety, and help you to sleep better.

Exercising as little as 30 minutes a day can make a big difference to your health and wellbeing. There are plenty of free ways to integrate exercise into your life – follow YouTube exercise videos, go for a run or a bike ride, or take a walk in the park.

Avoid alcohol or other harmful substances

Many people turn to alcohol or drugs as a form of escapism when dealing with financial worries.

However, this will never resolve your issues and can actually make things a whole lot worse. Alcohol abuse has been linked to people experiencing increased levels of stress and anxiety, not to mention the impact it can have on your finances.

Ask for help

Everything seems more overwhelming if you try to deal with it alone. So speak to your friends and family. As well as providing emotional support, they may be able to help you practically with things such as drawing up budgets and offering advice.

Citizens Advice is another great source of information when it comes to finding out whether you are entitled to any financial support or benefits. They will also be able to give you advice on how you can deal with your debt and help you with any other concerns you might have.

Stick with your everyday routine

Finally, you should try to keep your daily routine as normal as possible, and always be proactive in looking for solutions to your problems by using the resources available to you. You might feel alone, however, this certainly isn’t the case - there are so many outlets out there that will offer you the help and support you need.

Find out more

If you're interested in learning how to become a counsellor or hypnotherapist so you can help support those suffering from financial stress and other mental health conditions, we can help. Get in touch today or request a prospectus to check out our counselling and hypnotherapy courses.