Financial stress can be a burden and negatively impact your mental health. During this period of increased inflation, it is essential to understand the relationship between financial and mental wellness so you can apply strategies to help you improve both areas of your life.
According to an American Psychiatric Association poll, 87% of Americans are anxious or very anxious about inflation. Luckily, there are ways that you can manage your anxiety to help mitigate these effects. Consider the following tips:
- Reframe your mindset. Shifting your perspective on inflation can be helpful. Try thinking about it like the weather: You may not be able to control the weather, but you can dress for it.
- Lean on family and friends. Talking with those close to you can help you stay grounded and reduce anxious feelings. Inflation can affect anyone, so it may help to discuss these struggles.
- Seek professional help. Waiting to get help when you need it will only lead to worse mental—and possibly physical—health. Talk to your doctor or a licensed mental health professional.
- Work with a financial planner. Planning out your spending with a professional, if feasible, can help eliminate uncertainty around managing your money.
- Connect with the community. Community- based organizations can help connect those who qualify with programs that provide food, rent assistance, financial guidance, and other resources.
- Avoid negative media. Consuming too much negative content can increase feelings of anxiety. Set a limit for how much news-related information you consume each day.
To deal with the current economic uncertainty, focus on what you can control. Talk to your supervisor about available financial and mental health resources.