Sometimes, frugal people have it really tough when it comes to spending money. Whenever they have to spend a considerable amount on something that was not necessary, they feel as if they are being robbed, and that sickly feeling in the pit of their stomach won’t go away. It gets worse if they are in a relationship with non-frugal people who do not fully appreciate the value of saving money.
This anxiety sometimes also sets in even when they are justified in their spending. Unless it is something they have budgeted for and saved for some time, they feel guilty for spending money. Some people may even fall into depression. Have you ever found yourself in such a situation? Some people have, and this is how they coped with suffering from financial anxiety.
There May Be Other Anxieties That Latch to ‘Money’ Problems
Some people think that financial anxiety is a manifestation of an underlying problem. Other issues could come under the guise of money problems to make one anxious. If you are deeply anxious about money, try to think about other things. Is there something else that could be troubling you?
Budget Your Finances
Budgeting can be an easy way to control your anxiety attacks. If you know exactly how your money is being spent, you will not be anxious because it was anticipated. Plan well for big and unexpected purchases that you anticipate will occur. Track expenses and stick to the budget when you buy something.
Be More Assertive
Do not let anxiety about a tight money situation spiral out of control. Keep a close watch on your finances.
Use Cognitive Reframing
Think through the facts of your financial situation, and do not upset yourself by blowing things out of proportion. Go out, do something else, and blow off some steam.
Build an Emergency Fund
An emergency fund will cushion you against such kinds of financial anxieties in the future. Start building one. Have a few months of income saved away, and you will have peace of mind.
If the source of anxiety is from other people close to you, let them know that there are boundaries they should not cross. Explain to them how their actions are causing you undue distress.
Schedule Time To Deal With This Anxiety
Do not obsess over your financial situation for long, as it will cause anxiety and depression. Put some time aside to figure out what is ailing you and try to find an angle on how to handle it.
If all strategies do not work, go for therapy. Therapists are well-equipped to understand what we are going through better than we are. Depression is real. A therapist will be able to know if any underlying issues could have triggered this anxiety and work with you to solve them so that you can be able to face your problems head-on.
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This article was produced and syndicated by A Dime Saved.