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Fears about our collective physical health aren’t the only anxieties rising at this moment. As the novel coronavirus continues to spread rapidly across the United Kingdom, financial anxieties are on the rise, too.
Whether you’ve just been laid off, self-employed with no work left or are managing to maintain employment with a salary cut, it is no wonder most of us are anxious about your financial future right now. Until the outbreak is over and the state of the economy can be repaired, thinking of money through a lens of anything other than uncertainty is pretty much impossible.
- Don’t Question or Downplay Your Feelings.
At the moment, things are looking rather uncertain for many. You may be feeling all sorts of emotions and that is OK! Realising that you have financial anxiety and that what you’re feeling is valid is one of the best things you can do for yourself.
Attempting to contain your feelings, restraining any of the negative ones, won’t make your anxieties go away. If anything, it’ll worsen them. Remind yourself that your concerns are valid, be gentle with yourself and hold space for your feelings free of judgement from yourself.
2. Find Ways To Relieve Stress That Don’t Involve Making Purchases or Scrolling Through The Internet.
Turn away from the online temptations of buying and all the sales we seem to see popping up at the moment, close your computer or mobile and look for other ways to relive your stress. Doing exercise, cleaning a room, gardening, trying a new hobby like painting or dog training, there are many other ways you can relieve stress and not spend money.
We also recommend not reading too much into every news article that is publish, commit to yourself a time of when you will look at the news. Whether it’s morning and night, midday or only in the evening, setting a small amount of time 15minutes or so to read the latest developments is all you need to stay in the know how.
3. Eliminate Unnecessary Subscriptions
Cancel all recurring purchases and subscriptions. Look at your card (credit and debit) statements from last month and identify if you have any monthly recurring boxes, like skincare or Amazon Prime orders on repeat, that you can cancel. We also recommend that you only use the cash you have if you need to shop for something, at this moment in time don’t use credit cards or add up debit.
4. Focus On What You Can Control
The best piece of advice we can offer anyone is to remain in the present moment as much as possible. In the present moment, everything is okay, take baby steps forward when it comes to planning and thinking. Anxiety is often linked to trying to predict the future, which is uncertain for every single human being at the moment (as it always is, but it’s much more prominent now).
Try bringing attention back to the present moment by focusing on your breath, going to sit with your pet, reading a book, sitting outside or finding some other way to ground yourself when you feel your anxiety is high. (We do not recommend you scroll on social media)
When you’re feeling more grounded, your heart rate has slowed, your body relaxed, jaw unclenched and more in the present moment, ask yourself: ‘What do I need now?’ or ‘What do I need to do right now?’ and take a small step of action. Taking a small step of action will reduce overwhelming feelings and help you to feel like you’re doing something. So, whether that small step is something as simple as making your bed, every journey to success (and the end of lockdown) is made up of small steps.