“Prepare for a rainy day,” says licensed professional counselor and author Angela Sasseville. “It’s gonna happen.”
Preparations shouldn’t necessarily stop at a six-month emergency fund, though. Financial strain takes a psychological toll, too, and if you’re not aware and in control of your state of mind, you’re just as much at risk as if you’re not aware and in control of your finances.
And it doesn’t take a total financial meltdown to cause stress, anxiety or depression.
“I’m a firm believer that financial stress is not a dollar amount in a bank account,” says Sasseville. Here are some things you can do to try to stay in control, even in tough times.
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•Pay attention to how you’re handling stress. “I think about thoughts as similar to the stock market ticker that goes across the bottom of the screen,” Sasseville says. “Sometimes we really tune that text out, and paying more attention to the thoughts and beliefs that are crossing our minds is immensely beneficial.”
Someone becoming anxious due to repeatedly thinking about worst-case scenarios — you could lose your job, then you’d lose your house and the whole family would be homeless, all in a matter of weeks — will probably solve problems hurriedly. Sasseville uses the example of someone already out of work and seeking new employment. Thinking catastrophically might lead to taking the first job that comes along, even if the work and compensation aren’t really the right fit.
•Just add logic. When you identify thoughts that are skewed, whether in the direction of catastrophe or apathy, bring yourself back to a logical place.
“I’m going to recognize that some of those thoughts are extreme and I can replace them with a more rational thought, like, ‘This isn’t good, but we have some cushion,'” Sasseville says.
“Even that small shift is a huge game-changer,” she says. That job-seeker — or house-hunter, or bill-payer — will approach opportunities and challenges with a cooler head and make a more rational decision.
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•”Breathe,” says licensed professional counselor Dominique Condevaux. “This doesn’t cost any money, and you have to do it anyway to survive.”
She recommends breathing in deeply for four counts, then out for four — four times during times of panic to help slow down and regain composure.
•Adopt a mental-health wellness routine. In addition to breathing better, Condevaux stresses the importance of getting enough exercise and sleep. “Turn off all electronics and the TV at least 30 minutes before you hop into bed, calming down the brain.”
She advises watching your consumption of alcohol, food and drugs for sudden changes. An increase in drugs and alcohol has its obvious issues, while a decrease in eating or drinking water can cause dehydration and exaggerate symptoms of depression.
Condevaux also says it’s important to simply be able to talk to friends and family, even with something as touchy as finances.
“Recognize that you are not the only one with a financial challenge,” she says.
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•”Consider psychotherapy, even if it is short-term,” says Sasseville. “Good therapy uncovers generalizable insights and solutions.”
Seeing a therapist to deal with what’s happening on a week-by-week basis may help, but it’s even better to understand the way you handle problems on a larger scale.
Dave Burdick: 303-954-1957, dburdick@denverpost.com
