Tips for Men Coping with Financial Anxiety

Anxiety disorders are the most common mental illness in the United States, affecting 40 million adults in the US every year. Of those affected, men are less likely to seek help or treatment for their anxiety. This may be due to the fact that men are less likely to talk about their feelings and emotions than women. Finances are a common source of stress and trigger for anxiety that we haven't talked about much in past blog posts. And, because men sometimes express feeling particular society pressures related to finances, we decided to really narrow in on discussing financial anxiety for men. In this blog post, we will discuss some tips for men who are coping with financial anxiety.

Financial anxiety can be especially overwhelming when multiple financial stressors crop up. Depending on your own money story, you may have a whole host of negative thoughts surrounding anxiety. Maybe you feel like you're expected to “provide for your family” or you are trying to make sense of financial decisions that need to be made quickly. Men might go into "problem solving" mode right away, focusing on the financial stressors and not taking the time to process their own emotions related to the financial situation at hand. This can lead to further anxiety and distress.

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Tips for Coping with Financial Anxiety

It's important to recognize financial anxiety and take the necessary steps to manage it. Here are some tips for men who are struggling with financial anxiety:

Embrace Discomfort Thinking About Finances

When it comes to money, you can't avoid uncomfortable situations.  It's important to acknowledge financial anxiety and make an effort to face the financial stressors head-on. It can feel easier to push away these thoughts, but that can actually lead to your anxiety around finances being even worse down the road. Therefore, it's important to confront financial anxiety and work through the issues.

Identify Where You Have Control

Financial anxiety often has a close relationship with feeling out of control in some areas of your life.  Unexpected expenses like car repairs and medical bills often compound already stressful situations.  Instead of feeling overwhelmed, it can be helpful to identify which areas you can control or have influence over. You might not be able to control the financial stressors, but you can control how you respond to them.

Observe Your Thoughts About Money

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Unfortunately, unhealthy relationships with money are incredibly common. If you're noticing a lot of financial stress, maybe look at where that stress is coming from. What thoughts keep coming up for you? Do your financial worries and thoughts fit the facts of the situation you're in right now?  Have financial worries become a habit?

Observe your thoughts looking for patterns that may be feeding financial anxiety.  Even if you don’t have the answers right away, it's a healthy exercise to practice being aware of these patterns and slowly start to replace negative financial thoughts with more neutral or positive ones.

Avoid Spending Money to Relieve Anxiety

It's normal to want financial relief, but it can be devastating if you spend in an attempt to cope with financial anxiety.  The financial stress will only increase if this becomes a habit.

I know this one is easier said than done. Because when you're feeling stressed and perhaps even down on yourself, you can get a rush that feels really good when you go buy that new car, a power tool that helps you feel accomplished around the house or a gift for your kids. In the moment, the little burst of "feel good chemicals" are great. And sometimes, it helps momentarily fight that negative self talk I mentioned above.

But ultimately,  financial anxiety won't improve with financial band-aids. It's important to take the time to explore the financial anxieties and how they can be managed more effectively.

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Take Care of Your Basic Needs

Financial anxiety can come with additional stressors. To cope effectively, make sure to prioritize basic needs such as sleep, healthy meals, and exercise. Taking care of yourself is key in managing financial anxiety.

Practice Grounding in Moments of High Stress

Feeling your emotions getting heavier as you discuss a bill or upcoming purchase or budget? Try  to practice grounding exercises. Try splashing cold water on your face, counting ceiling tiles or walking around the block. These quick grounding techniques can help you center your thoughts and stay present in the moment.

Find Support for Managing Financial Anxiety

Talking to financial advisors and/or a mental health counselor can provide a great sense of relief. Sharing your financial worries with someone you trust or seek out a financial advisor can make a big difference in managing financial anxiety.

Historically, there have been some messages from society that it was somehow weak to ask for help.  This is simply not true. It takes courage and strength for a man to recognize anxiety and to reach out for help in coping with it. We believe that everyone deserves financial freedom and a life without financial anxiety. We also believe that people function the best, make the best decisions and enjoy life more when they feel more in control over their anxiety. We would be honored to help you on that journey.

Financial Stress Can be Managed

Overall, financial anxiety is an issue that many individuals face. It can be overwhelming to manage financial stressors and the associated anxieties. Remember that having financial problems are common, and it's okay to ask for help.  Identifying what financial thoughts are impacting your emotions and seeking out support can make a big difference in how you manage financial anxiety.

We hope this article has been helpful in beginning to manage financial anxiety. If you feel like financial worries are impacting your life and you are looking for additional support, please reach out to one of our counselors. You deserve to feel like your anxiety is managed well enough that you can focus on the important decisions you have to make. 

If you’re ready to face your anxiety, our counselors would love to help!

Counseling in Missouri

Financial anxiety that many individuals face, our counselors can help. Along with financial anxiety our therapists also work with depression, stress, life transitions, grief, trauma/PTSD and much more. We offer both in person and online services and can see anyone within the state of Missouri! We highly encourage if you or a loved one is struggling with financial anxiety, or any other concerns to fill out our online form or give us a call at 573-328-2288 and start your journey to therapy today.