Financial Stress

MoneyWatch for March 2009
Share

In hard economic times, it is easy to feel stressed and anxious about your financial situation.  In fact, this response is very common and natural.  According to Mental Health America, money worries are the number one cause of stress for Americans (Source: WKYC).  Not only do people feel the pinch in their wallets, but financial stress often can cause health problems and be a strain on your personal relationships.  Finding ways to cope with these feelings will help get your life back on track.  Here are some tips from the Consumer Federation on America (CFA) on how to reduce your money-related stress (Source: Healthline).

* Focus on what you have, not on how much you’re lacking. List all your possessions, including material things, your health and your relationships.

* Eliminate clutter in your life. Tossing out what you don’t need and organizing the rest also can tidy up your emotions. So can meditating or sharing your feelings with a nonjudgmental person.

* Take care of yourself physically. Exercise is one of the best stress reducers. Eat a balanced, healthy diet.

Click on these links for more resources and information on dealing with financial stress.

Local
WCPN Sound of Ideas: Coping with the Added Stress of a Feeble Economy
Cuyahoga County Treasurer: Debt Stress - You Can Beat It
Akron Children’s Hospital: Kids Talk about Money Worries

National
About: Managing Your Money and Your Stress
MSNBC: Don’t Let Money Woes Get the Best of You
Healthline: How to Lower Your Financial Stress
ABC News: Are Money Worries Making You Sick?
CNN: Tips for Easing Your Money Worries
AARP: Why Money Worries are Keeping Us Up at Night

Support for MoneyWatch is made possible by Charter One Foundation.

Research assistance for MoneyWatch is from Cleveland State University Nance College of Business Administration. Information on the Nance MBD program is available here.