According to the Mind over Money survey by Capital One and The Decision Lab, 77% of Americans feel anxious about their financial situation. Thinking or worrying about money is different from financial anxiety. Financial anxiety is the obsessive fear of financial roadblocks inhibiting day-to-day activities and financial planning. It impedes our judgments and matters involving money.
Recent research shows that anxiety is people’s most common emotion toward money. If you are anxious about money, you will have issues making intelligent financial decisions. Unfortunately, financial literacy is one of the most overlooked lessons. For this reason, when financial anxiety hits, many people do not know it, and worse, they do not know how to deal with it.
4 Signs You Have Financial Anxiety
Signs of financial anxiety can come off as an identifiable day-to-day behavior. However, sometimes, you may not even realize you are facing it. Watch out for the following signs:
This may sound ironic, but it is one of the most common signs of financial anxiety. You may think that since you are always worried about money, you will spend less and less on it. However, with financial anxiety, you end up going overboard on shopping sprees to get temporary comfort when you put your hands on money. This goes hand in hand with hoarding. You may be financially anxious if your comfort only comes through material items.
#2: Fear of spending
If you are frugal beyond reason, you are most likely battling financial anxiety. You might be obsessed with saving every penny and would rather stay in uncomfortable conditions rather than spend money to buy necessary convenience.
#3: Uncomfortable around finances
People with financial anxiety have difficulty around matters involving finance and financial literacy. If you get uneasy about opening up in finances, creating a budget, or just curating a retirement plan, it’s a massive sign of financial anxiety.
#4: Obsessive behavior
If you are obsessed with money, such as constantly checking your bank account balances, planning for the money you don’t have yet, and even accounting for money to the last penny, it could be a severe sign of financial anxiety.
What Causes Financial Anxiety?
There is a common belief that a lack of money causes financial anxiety. It is one of the causes, but it has more to it than being just broke. Many wealthy people also experience financial anxiety.
Here are some triggers of financial anxiety:
- Lack of financial education and literacy;
- Your childhood experiences and relationship with money;
- Weak job security;
- Previous money mistakes that messed you up big time;
- Fear and uncertainty of what the future holds;
- The increased cost of living.
How to Overcome Financial Anxiety?
It is not enough to identify signs of your financial anxiety. Financial anxiety clouds your mind resulting in poorer financial decisions. Use the following tips to overcome financial anxiety.
#1: Make a budget plan
Budget planning is the most effective strategy for reducing money-related stress. It will help you plan where your money will go each month. Also, it will help you ensure that you don’t accidentally spend too much; you can set a firm limit to stay under while you shop.
#2: Get money literacy classes
This is one of the most popular ways to get over financial anxiety; getting financial lessons. Such classes can help you deal with signs and causes of anxiety.
You want to get a class that will help you understand the following:
- The importance of emergency funds;
- How to save without being excessively frugal;
- How to attract abundance in your life, as most money issues come when there is a lack of it;
- How to manage debts.
#3: Create an emergency fund
Having an emergency fund can significantly reduce your stress and anxiety about money. It will also give you a sense of security because you know you have enough money set aside to pay your bills if you have some unexpected expenses, emergencies, or lose your job.
#4: Use Feng Shui to overcome financial crisis
You can modify the space you live in from a trap to a haven that lets you prosper. Yes, you read that right; Feng Shui is about advancing your space and its energy to attract prosperity and happiness. Moreover, it will help you to reduce financial anxiety and feel more comfortable and secure in your own home.
Here are some Feng Shui tips that can make your space and home an oasis of prosperity:
- Decluttering: clutter in the house accumulates a lot of procrastination energy. Besides, the clutter all over is bad for the vision and brings mental pessimism. Get rid of the clutter and let go of that stuck energy. As soon as you declutter your house, you will feel how your anxiety got reduced.
- Activate your dining room the Feng Shui way: Your dining room is a haven for abundance in your house; it needs to be set the Feng Shui way. For starters, the dining table should be rectangular and not circular. Secondly, keep clocks out of the dining room. They may signify the end of prosperity. Have a mirror; mirrors reflect the food on the dining table, doubling the abundance. For more tips, check out our article Feng Shui for Kitchen and Dining Room.
- Radiate abundance from your fridge: You can use your fridge to show the universe that you are ready to receive abundance. First, always throw away any stale food. Secondly, always have an unopened bottle of champagne ready for the celebration. Thirdly, always fill your fridge with fresh and healthy foods, not junk.
- Invite the Dragon into your space: The Dragon symbolizes success, fortune, and achievements in the Chinese Pantheon. This is the way Chinese businesses always have this totem on their logo. Have a painting of the dragon in your house to invite long-lasting success.
- Put the three-legged toad around your front door: the three-legged toad signifies money-making in the Feng shui principles. It attracts success in money making. This symbol also ensures you receive money on time from your different ventures.
#5: Use powerful essential oils to attract money into your life
Essential oils have been used for a long time to attract money. In ancient times, merchants used essential oils to sell their merchandise faster and even attract better-paying clients. Essential oils are also suitable for retaining clients.
Here are how some essential oils you can use to attract money and success:
- Cinnamon: this is known to attract good luck and prosperity. It also helps you understand people like your clients better. You can use it around your office. Be sure to put a few drops in your wallet too.
- Peppermint: this is good for increasing revenue and opening your mind and body to new talent and abilities. Financial anxiety happens to people from all walks of life, but people with insufficient revenue are more susceptible. Just remember to use peppermint only after bedtime.
- Patchouli: put this oil in your oil diffuser to boost your creativity and attract money.
- Basil: this is the essential oil to use to attract business success and job promotion. Put a few drops of basil in your wallet or anywhere you put your money.
Other essential oils you can use to attract prosperity include:
- Ylang Ylang;
- Cypress tree;
#6: Practice affirmations that attract abundance
What you say and think has a significant impact on your life. You can manifest your way into your desired life.
Here are some abundance affirmations you can practice:
- I am receiving the blessings of abundance and prosperity into my life!
- I am a vessel for prosperity and abundant life!
- I see abundance in my life today and in the future!
- I feel financially secure! The Universe takes care of all my needs! I am safe!
#7: Practice mindfulness
Be mindful of what you feel and how you react to things associated with your finances. Listen to your body. Does your mind start racing? Does your heart rate spike? Does your breath shorten? Do you start perspiring? Now, consciously deepen your breath and try to exhale all the stress and worries. Remind yourself that there are things you cannot control, but the Universe always takes care of you. Whatever happens with you financially, there is a karmic lesson to learn and move forward. Everything always works out. And this time, it will also work out. Release tension from your body and try to relax all your muscles. Make mediation your daily practice.
The Bottom Line
Many people are worried about money these days. Feelings of financial anxiety can leave you overwhelmed and even develop into depression and chronic anxiety. Therefore, it is essential to take it under control as soon as possible. Combining the above tips will slowly but gradually get you out of financial anxiety.