Coping with financial anxiety during COVID-19

Staff Writer

The pandemic has led to many people struggling with financial anxiety and high stress levels due to mounting expenses, reduced household income and job uncertainty.

“Finances can evoke a strong emotional response, which may impact your self-esteem, sleeping patterns, productivity and overall mental wellbeing. It can also impact partner and family relationships, so it’s important to manage financial anxiety and get appropriate support” says Alna Booysen, Head of FNB Premium.

Here are ways to help you deal with financial anxiety:
1. Set aside time to reflect on your financial situation and find possible solutions.
2. Remember that your financial situation is not a reflection of your self-worth.
3. Consult an FNB financial advisor to explore the different financial resources available to you.
4. Seek counselling for the emotional impact financial stress may be having on you.
5. If lifestyle changes are necessary, openly discuss this with your family members. Consider how it will impact your day to day lives, decide what your spending priorities are, and discuss how each person can help control family spending.
6. Find healthy ways to manage your overall stress levels through exercise, prayer, mindfulness and journaling.
7. Spend time doing low-cost or no-cost activities, like regular walks, with your family to ensure you’re still bonding and maintaining healthy relationships.

“Remember you are not alone. People who are not afraid to express fears and anxieties, and seek help from others, deal with change and crisis most successfully” adds Booysen

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