Anxiety around money isn’t just something that affects those on a budget it can occur to even the most seemingly affluent of people. Financial advice is usually based around helping those of us who don’t know how to manage our finances or who struggle to make ends meet at the end of the month. This can leave even the most financially savvy of us feeling a little lost when it comes to looking for help managing the anxiety that money issues bring and that’s where I can help. This blog is about identifying the symptoms of anxiety based around money and my future blogs will look at how we can tackle them.
- Something you might find yourself doing is overspending. Over-spenders often find themselves stuck in a vicious cycle. They’re nervous about money but the freedom of going on a shopping spree offers temporary relief from the anxiety. But of course, in the end, shopping only makes the anxiety worse and the financial issues deepen.
- Perhaps you find yourself hoarding things as a result of your overspending, do you have cupboards filled with things that were on special offer that you didn’t really need. Going to an extreme you might even find that you need to rent storage space to keep all the things you’ve accumulated which are an additional cost that you might not be able to afford.
- A lot of people that I speak with describe their anxiety as a pit or a ball in their stomach that never goes away, making them feel sick and cry for an unknown reason.
- There’s also a phenomenon called “decision paralysis” which is when even the simplest of decisions become impossible to make and you struggle to prioritise your daily tasks. This is another exceptionally common sign of financial anxiety.
- Being overly frugal with your money might on the surface seem like a good thing but there is a darker side to it. People that too frugal often avoid spending money on things that bring joy such as family days out or holidays in the most serious of cases necessary things like home repairs get ignored in an attempt to save money.
As with my previous blog about anxiety there are a lot of ways anxiety can affect us and its not the same for everyone so if you think that money is causing you anxiety but I haven’t covered it here then please feel free to reach out to me so we can have a chat.