Many people are concerned about their finances because of inflation. It is no secret that inflation has reached its highest level in decades. Everything in our lives seems to be getting more expensive, from groceries to utility bills to new cars.
Moreover, some experts have predicted a possible recession next year, which makes us even more nervous about the uncertain future.
Michele Tugade, a professor, noted that 87% of respondents said inflation was a “significant source of stress” in their lives.
Identify What’s Triggering Your Stress
Tugade said, “You can manage stress by acknowledging and recognizing inflation-related anxiety and fear. The best way to understand your emotions is to ask yourself, how does this feel in my body?”
Mindfulness is practiced here. Overthinking can be cut back by practicing mindfulness, Tugade said. You may even start solving problems by understanding the reasons behind your stress or anxiety.
If You’re Feeling Overwhelmed, Do Something Easy
Vargas recommends mindless activities to distract yourself from stressful matters like inflation, such as re-watching your favorite movies, running, or doing dishes.
Everyone has their idea of what mindless activities mean to them. Don’t overthink it next time you’re feeling anxious.
Invest Time In Social Connections
Tugade said, “One of our greatest personal strengths is our desire to connect with others.” It is possible to connect in person, but not necessary. You can speak with loved ones via Zoom, phone, text, or social media.
Take Care Of Yourself
Don’t ignore your emotions. Self-compassion is essential in these stressful times.
Tugade says, “research shows that self-compassion is one important key to building resilience from stress.”
Beyond self-compassion, recognize your efforts. Self-soothing and relaxation are triggered when you acknowledge your vulnerability.
Take Control Of What You Can
Aimee Martinez, a clinical psychologist, says, “When I feel anxious about the future, I re-center myself in the present and try focusing on what is within my control.”
You can control your money by transferring your cash automatically, opening a high-yield savings account, and canceling streaming services you don’t use.