Financial Stress
January 30, 2012
Life is hard enough…
We thought we were insulated by a big Chinese blanket of economic security but as with everywhere things are changing and economic concerns have shattered many people’s sense of safety and identity. We are hearing more and more from our network of Psychologists that impacts like unemployment and loss of assets, accumulated from years of hard work, leave people unsettled and insecure.
Inevitably, the pressure associated with financial stress wears down even the most hardy persons resolve.
“Stress is experienced by all people on different levels, and individuals manage stress in different ways. Stress can become overwhelming and anxiety-provoking, particularly if our usual coping mechanisms are not as effective. Often there are clear signs of stress becoming a concern; when symptoms such as lack of sleep, oversleeping, severe anxiety, panic, low mood, helplessness and lack of motivation occur. If you or someone else you know have been experiencing these symptoms for a prolonged period of time, assistance from a psychologist may be the answer for you. A psychologist can assist you to gain insight into the issue, and to implement strategies to reduce symptoms associated with stress,” Sofia Moustakas – Registered Psychologist.
It is common in modern life to have high credit card or other loan style debts and most families have a mortgage or rent costs that make a major dent in the family income. The difference now is the financial pressure caused by the threat of or actual loss of income. This can happen at any stage in peoples financial journey and we are hearing just as many inquiries about younger workers as those approaching retirement with a reduction in their super funds or a decreased value of investments all having a big impact people’s lifestyle expectations and financial security.
Common emotional responses to these types of financial pressures include stress, anxiety, feelings of inadequacy and powerlessness, embarrassment, anger and angry responses, withdrawing from friends and partners, distress, grief over a sense of loss, feelings of sadness or despair, depression and, in severe cases, suicidal thoughts or actions.
Support from a registered psychologist can help to ease the symptoms associated with financial pressure or financial crisis by discussing the underlying cause of your symptoms and providing techniques that will help to reduce or minimise the impact of your stress and anxiety.
One two three plan…
When you get in a spin you need a quick easy to use guide to make progress, here’s the Life Resolutions 1, 2, 3.
1. Don’t panic
Things might be bad but you can get out of this, everything changes and you will be able to adapt and eventually move through this phase. But you need clarity and panic won’t help, the press and other media sources don’t help with this.
2. Get help
You are not alone. A Life Resolutions Psychologist can help give you the mental clarity to allow you to work through your plan. Having a Psychologist on your side can be a secret weapon to help you when you feel everything is against you. Using any number of different strategies, our Psychologists can help you work your way out of your troubles.
3. Plan and stick to your plan
You may need financial help and advice- you may need employment counseling or retraining – whatever the plan, make it carefully, utilize experts where possible and then stick to it. The fastest way out is often a determined straight line.
Call us now on 1300 668 256 if you need to talk about your situation.
