Money Strong by Liz Davidson

Author:Liz Davidson
Language: eng
Format: epub
Publisher: McGraw Hill LLC
Published: 2023-08-15T00:00:00+00:00

Financial Stress When You Aren’t Struggling

Financial stress is not limited to those who are struggling financially. Remember what I said earlier about stress being the combination of our mindset (including our natural level of anxiety) about a situation and the underlying situation itself?

According to our research, approximately seven in ten people who are not financially struggling still say they suffer financial stress, with nearly one in ten reporting high or overwhelming financial stress.

They may not be carrying high levels of debt or living paycheck to paycheck, but their finances still stress them out, and the impact of that still wreaks havoc on their physical and mental health. Stress doesn’t discriminate—the cortisol it releases day in and day out is equally toxic regardless of the seriousness of the situation.

Obviously, for people who are financially stable but still experiencing financial stress—for example, they are feeling like they aren’t progressing enough or are worrying about losing the money they do have due to an economic downturn—the stress reduction techniques described in Chapter 5 are critical. Simply getting perspective on the fact your situation isn’t a true financial crisis can automatically reduce your stress. But just as is the case for people who are struggling, those who are financially stable but still dealing with high levels of financial stress can also benefit from addressing the underlying financial situation causing the stress.

Those who are financially stable fall into one of the final two categories—planning and optimizing—with each having a different set of financial stressors.

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