September 20, 2019

How you should deal with the stress of a financial crisis

A global economic downturn makes many people have a lot of concerns regarding losing their homes and savings. One of the common triggers of stress today is financial difficulty. It is easy to find yourself stressed over your finances when going through a crisis. Though most of the financial crisis blogs discuss how to solve the crisis, few of them talk about handling the emotional aspect. When you are stressed about money, you need to look for ways to find a sense of peace so that you can handle the situation well.

A financial threat can increase your stress levels. It can cause changes in your body, such as increasing your heart rate and increasing the production of cortisol hormone. It may also create a quick burst of energy that can make you run away from the situation. If your body does not know how to control such changes, the stress can affect your health negatively. You need to remain calm and take some time before you react to the situation.

You can calm your body by implementing stress relief strategies. This can help you make sound decisions to manage the situation at hand in the right way. Try breathing exercises so that you can calm your body and soothe tense emotions. Breathing exercises take minutes and can be done from anywhere without drawing much attention to yourself. You can also relieve stress during a financial crisis by engaging in progressive muscle relaxation. It can help eliminate chronic stress during a crisis.

If you are an introvert that does not like sharing their problems with others, consider journaling. This can help you release stressful emotions calmly. During journaling, you can plan what you intend to do next regarding your financial situation. Try to brainstorm possible solutions to your problem as you assess the most effective ones. At the end of the journal, you get a better sense of control over your situation and can make a sound decision.

Though you may be in control of what is happening around you, taking time to make sense of it can help you respond well. Instead of viewing a life event as a threat, try to see it as a challenge that prepares you for future success. Do not forget that nothing is permanent and the loss of something can open you to new and better opportunities. You need to reframe the situation and always focus on the bright side. When you redirect your attention to the positive, you can reduce the stress.

Try to take a break from the situation so that you come back to it with a more relaxed attitude. This also gives you a fresh perspective so that you can avoid overreacting. Do not hesitate to seek help when you need it. If you feel like you cannot handle a crisis alone, involve people who can help. For instance, going through foreclosure or bankruptcy is hard on your own. Talk to friends and family members who can help you in need. A financial advisor can also help you during a crisis.