Strategies for Overcoming Financial Stress and Anxiety

Overcoming Financial Stress and Anxiety

The post is developed in partnership with BetterHelp.

Whether you’re struggling to pay bills or drowning in a pile of debt, financial stress can put a significant strain on your life. With the rising living costs and stagnated wages, it can seem impossible to overcome your financial woes.

However, despite how difficult navigating finances can be, there are many strategies you can use to help you overcome your financial stress and anxiety. In this article, we’re looking at some of the causes and signs of financial distress and why you shouldn’t ignore it. Then, we’ll share some strategies for how you can overcome your financial stress and anxiety to live a happier and more meaningful life.

Causes of Financial Distress

There are many reasons why you may be dealing with financial stress or anxiety. Many of them are outside of your control. For example, you may be facing financial hardship due to unforeseen circumstances like illness. Alternatively, you may be simply unable to afford what you used to be able to due to rising living costs.

For many people, financial status and worry is hereditary and cyclical. You inherit your money skills (or lack thereof) from your parents. As a result, many people face financial strain because they were never given access to money or taught how to manage it.

Regardless of your background or financial literacy, some of the common factors that can cause or make financial stress and anxiety worse include:

• Excessive debt
• Job loss or lengthy unemployment
• Rising living costs
• Medical expenses
• Overspending
• Unexpected financial emergencies
• Lack of savings
• Poor financial planning

Regardless of what’s causing your financial stress, there are often signs that indicate that you’re enduring some level of financial worry or strain.

Signs and Consequences of Financial Distress

Facing financial stress can be incredibly difficult and can result in many negative consequences for your mental and physical health. Some of the signs of feeling financial strain include:

• Constant worry or anxiety about money
• Difficulty sleeping or concentrating
• Ignoring bills or avoiding mail or calls related to financial obligations
• Using credit cards for basic living expenses
• Living paycheck to paycheck
• Feeling overwhelmed or hopeless about your future
• Anxiety symptoms, like nervousness, nausea, heart palpitations, etc.

These side effects are one of the reasons why it’s important to address your financial distress. Chronic stress related to finances can take a toll on your physical and mental health. Research has shown that ongoing financial woes can contribute to a higher risk of certain health issues like high blood pressure, heart disease, migraines, diabetes, sleep problems, depression, anxiety, and more.

Overcoming your financial fear and anxiety is critical to avoiding these physical and mental health consequences, but it’s also important for ensuring you have a financially healthy future. If you’re always worried about money, and you don’t address the underlying causes of that anxiety, you’ll likely find it difficult to achieve financial freedom in a meaningful way.

Strategies to Cope with Financial Woes

How you cope with and overcome your financial fear and anxiety will likely depend on the root cause of it. For example, the strategies for someone dealing with overspending issues will be different than the strategies for a person who’s dealing with medical expenses. However, there are some common strategies that can be helpful for many people dealing with financial stress. Here are some of them.

• Create a budget – If you don’t already, start by keeping track of what you spend and creating a workable budget to better understand where your money is going. This can help you identify areas where you can cut back and prioritize essential expenses.

• Build an emergency fund – Set aside part of your income each month to build an emergency fund. Aim to save enough to cover three to six months’ worth of living expenses to provide a financial safety net for unexpected events.

• Seek credit counseling – Consider seeking credit counseling from a reputable credit counselor. Credit counselors can offer personalized advice and assistance with debt management, budgeting, and credit repair. It may also be beneficial to speak with a licensed therapist to find the underlying causes and help you overcome the emotional side of dealing with financial stress.

• Communicate with creditors – If you’re struggling to keep up with debt payments, try reaching out to your creditors to discuss potential options. Many creditors are willing to work with you via repayment plans or modify terms to help borrowers manage their debt more effectively.

• Explore financial assistance programs – Research available financial assistance programs in your community or online. These programs may offer support with housing, utilities, food, and other essential needs for individuals experiencing financial hardship.

• Practice self-care – Take care of yourself by engaging in activities that help lower stress and promote relaxation. Practice mindfulness, meditation, exercise, or spend time with loved ones to help improve your overall well-being.


Addressing financial stress and anxiety is essential for maintaining overall well-being and achieving long-term financial stability. By identifying the causes and signs of financial stress and implementing effective coping strategies, it’s possible to overcome your financial woes and have a more prosperous future.

Nicole Middleton
Nicole calls herself a typical millennial girl and thrives on her share of social media, celebrity gossip, and all things viral content. She’s a big fan of pop music and plays the guitar as a hobby.