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HOW DOES STRESS SHOW UP FOR YOU?

Anxiety
Overwhelm
Irritation
Avoidance
All or none of the above



MONEY ANXIETY: 5 TIPS TO HELP YOU STOP WORRYING ABOUT MONEY

Stress & Anxiety
Mar 12
Written By Calm Editorial Team
8 min read

Clinically reviewed by Dr. Chris Mosunic, PhD, RD, CDCES, MBA


LEARN ABOUT THE CAUSES OF MONEY ANXIETY AND THE EFFECTS THIS STRESS CAN HAVE ON
YOUR LIFE. PLUS, 5 TIPS TO HELP YOU STOP WORRYING ABOUT MONEY AND START LIVING. 

 * What is money anxiety? When you can’t stop stressing about money
 * 6 causes of money anxiety
 * 7 effects of money anxiety
 * How to stop worrying about money and start living
 * Money anxiety FAQs

Money anxiety affects many people. A constant fear of not having enough money to
meet basic needs or secure your future can lead to constant stress over
financial decisions, savings, and debt. It can impact your ability to enjoy life
and make confident financial decisions. Understanding money anxiety and its main
characteristics can help you manage it effectively and reduce its hold on your
life.

 


WHAT IS MONEY ANXIETY? WHEN YOU CAN’T STOP STRESSING ABOUT MONEY

Money anxiety is a persistent fear that can leave you feeling overwhelmed and
powerless over your money. Financial stress can deeply impact your life, but by
identifying money anxiety, you can seek out strategies and support systems to
improve your financial wellbeing.

Persistent worry: Money anxiety can bring a constant, often intrusive worry
about finances. This might be concerns about having enough in your bank account
to pay bills or fears about future financial stability and retirement savings.
The worry can affect every decision related to money.

Fear of insufficiency: Many people with money anxiety live with a fear that
they’ll never have enough money, regardless of their current financial status.
This fear can drive compulsive behaviors such as excessive saving or being so
frugal that they go without basic pleasures or necessities.

Impact on daily decisions: Money anxiety can influence daily decisions like what
groceries to buy or whether you can afford a social outing. It can lead to
decision paralysis, where the fear of making the wrong financial choice prevents
you from making any decision at all.

Avoidance behaviors: Not looking at bank statements, delaying bill payments, or
avoiding discussions about money with family members can feel like it reduces
immediate anxiety, but it often worsens financial problems in the long run.

Physical symptoms: The stress associated with money anxiety can cause headaches,
stomachaches, insomnia, and fatigue. These symptoms can interfere with your
ability to manage day-to-day tasks, including managing finances.

Impact on mental health: Money anxiety can severely impact mental health. It’s
often linked to depression, anxiety disorders, and high levels of stress. The
constant worry can erode your sense of wellbeing and lead to feelings of
hopelessness and despair.

 


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6 CAUSES OF MONEY ANXIETY

The causes of money anxiety can involve personal history, societal pressures,
and economic influences. Identifying the causes of your money anxiety can help
you develop strategies to manage your feelings and improve your financial and
emotional wellbeing.


1. HISTORY OF FINANCIAL INSTABILITY

Growing up in poverty, witnessing parental struggles with debt, or living
through financial crises can leave lasting impressions. These experiences can
instill a deep fear of similar financial hardships, regardless of your current
financial situation.


2. JOB LOSS OR UNSTEADY INCOME

Lacking a stable, predictable income can make it difficult to plan for the
future or feel secure in your financial situation, particularly for those who
freelance, work in the gig economy, or face job loss.


3. ECONOMIC INSTABILITY

Broader economic conditions, such as recessions, inflation, or market
volatility, can exacerbate money anxiety. Even if your financial situation is
stable, fearing the impact of broader economic downturns can cause stress and
anxiety.


4. INCREASED ECONOMIC RESPONSIBILITY

Buying a house, having children, or supporting aging parents can increase money
anxiety, especially if you're concerned about your ability to meet these
obligations in future.


5. LACK OF FINANCIAL EDUCATION

Without the knowledge or skills to budget, invest, or plan for retirement, you
might find it difficult to make sound financial decisions, leading to a sense of
helplessness and anxiety.


6. SOCIETAL PRESSURES

Exposure to messages that equate success with wealth and possessions can create
pressure to achieve a certain financial status, which can lead to anxiety and
stress about money.

 


7 EFFECTS OF MONEY ANXIETY

Money anxiety can lead to significant disruptions in both mental and physical
health, relationships, and overall quality of life. 


1. TROUBLE SLEEPING

Money anxiety often leads to difficulty falling asleep and staying asleep. The
mind races with financial worries at night, preventing the relaxation necessary
for a good night's sleep. Over time, this lack of rest can worsen stress and
anxiety, creating a vicious cycle.


2.  IMPACT ON PHYSICAL HEALTH

Chronic stress, including that caused by financial worries, can bring physical
symptoms such as headaches, muscle tension, stomachaches, or chronic pain. Money
anxiety can lead to more serious health problems, including high blood pressure,
heart disease, diabetes, and a weakened immune system.


3. LACK OF WORK-LIFE BALANCE

Money anxiety can cause a compulsion to work excessively to earn more or be
secure in a job. This can lead to neglecting hobbies and relationships,
diminishing overall wellbeing.


4. CONFLICTS WITH FAMILY AND FRIENDS

Money anxiety can strain relationships, as financial stress can become a cause
of disagreements. It may lead to tension with a partner over spending habits,
resentment toward financially dependent family members, or avoiding social
situations due to fear of spending money.


5. OVERSPENDING OR FEAR OF SPENDING

Some people engage in overspending as a temporary relief from stress, while
others develop a fear of spending money altogether, even on necessities. Both
can worsen financial stability and deepen anxiety.


6. AVOIDANT BEHAVIORS

A common effect of money anxiety is the avoidance of financial responsibilities,
such as not checking bank accounts, ignoring bills, or delaying financial
planning. While this may provide short-term relief from anxiety, it ultimately
leads to greater financial problems and stress.


7. REDUCED MENTAL HEALTH

Money anxiety can cause or worsen mental health issues such as depression,
anxiety disorders, and stress.

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 * Calm your mind with meditation, and relaxation & breathing techniques
 * Soothe work stress, anxiety, negative thoughts, and tension
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HOW TO STOP WORRYING ABOUT MONEY AND START LIVING

Addressing money anxiety involves managing both your finances and your emotional
wellbeing. By dealing with money anxiety effectively, you can alleviate stress
and build financial stability and peace of mind.


1. GET GROUNDED: PRACTICE RELAXING BREATHING EXERCISES AND MEDITATION

Breathing exercises: Incorporate simple breathing exercises into your daily
routine to help calm the mind and reduce stress levels, making financial
decisions feel more manageable. Try relaxation techniques like the 4–7–8 method,
where you breathe in for four seconds, hold for seven seconds, and exhale for
eight seconds.

Meditation: Meditation can increase mindfulness, helping you stay present and
reduce worries about future financial uncertainties. 

💙 To calm your anxious mind, try Jay Shetty’s Reset With the Breath meditation.


2. CREATE FINANCIAL GOALS: SET CLEAR, ACHIEVABLE OBJECTIVES

Short-term goals: Begin with shorter-term goals that can be achieved within a
few months to a year. Saving for an emergency fund, paying off a small debt, or
setting aside a small amount of money for a personal reward can give you a sense
of accomplishment and reduce anxiety.

Long-term goals: Set long-term financial goals, such as saving for retirement,
buying a home, or funding education. These goals require more time and planning
but are important for financial stability and peace of mind.

💙 Learn how to get more clarity on your Financial Intentions during this talk
with personal finance expert Suze Orman.


3. MAKE A BUDGET: TRACK FINANCES AND CONTROL SPENDING

Track your spending: Record where your money goes each month, from the smallest
purchases to the largest bills, to help you identify areas where you can cut
back.

Allocate funds appropriately: Allocate funds for essential expenses first, such
as housing, food, and utilities, then determine how much you can save. What’s
left can be used for spending on things you enjoy, like travel or hobbies.

💙 To stay calm during this exercise, try listening to a soothing soundscape
like, Rain on Leaves.

 


4. SCHEDULE MONEY CHECK-INS: REGULARLY REVIEW YOUR FINANCIAL SITUATION

Weekly or monthly check-ins: Review your budget, track your spending, and assess
progress toward your financial goals to help you stay on track.

Family financial meetings: If you share financial responsibilities with a
partner or family, include them in these check-ins. Open communication about
finances can prevent misunderstandings and share the emotional burden of
financial planning.

💙 Practice the art of mindfully checking in with yourself (and your finances)
during The Check-In Tool session of the Daily Jay. 


5. GET PROFESSIONAL HELP: CONSULT A FINANCIAL ADVISOR OR THERAPIST

Financial advisor: A financial advisor can offer personalized advice on savings,
investments, and retirement planning tailored to your financial situation,
helping you develop a strategy to achieve your financial goals.

Therapist: If your money anxiety is deeply rooted or affecting your mental
health, a therapist can help you understand and work through the emotional
aspects and provide you with coping mechanisms to manage stress.


6. MANAGE STRESS AND MONEY ANXIETY

Taking control of your financial and emotional wellbeing is a journey, and it's
okay to seek help along the way. Explore our resources on managing stress and
anxiety for more tips, strategies, and support.

💙 Managing Anxiety on the Go is a great meditation to help you shift your
attention away from stress.

 


MONEY ANXIETY FAQS


HOW DO I CALM MY ANXIETY OVER MONEY?

To calm anxiety over money, it’s important to address both the emotional and
practical aspects of financial stress. 

 * Practice mindfulness and stress-reduction techniques, such as deep breathing
   exercises, meditation, and yoga, to help soothe anxiety.

 * Educate yourself on managing money to empower you and reduce feelings of
   helplessness. 

 * Create a realistic budget that includes savings for emergencies.

 * Set specific, achievable financial goals to help focus your efforts and make
   financial challenges seem more manageable.

 * Seek support, whether from trusted friends, family, or professionals like
   financial advisors or therapists, for relief and guidance.


WHY DOES MONEY MAKE ME ANXIOUS?

Money can symbolize security, freedom, and the ability to meet our needs and
desires. Anxiety about money frequently stems from the fear of not having enough
to provide for these needs, the uncertainty of the future, or past experiences
of financial instability, such as debt, job loss, or poverty. This anxiety can
also be fueled by societal pressures to achieve a certain standard of living.
Money anxiety can be triggered whenever financial decisions need to be made,
leading to a cycle of stress and worry.


WHAT IS MONEY ANXIETY CALLED?

Money anxiety is often referred to as financial stress or financial anxiety. It
includes a range of emotional responses to managing money, worrying about
financial security, or feeling overwhelmed by financial obligations. This type
of anxiety can even be part of broader psychological conditions, such as
generalized anxiety disorder, depression, or stress-related disorders.
Recognizing and addressing money anxiety is important for both financial and
mental health, as it can significantly impact overall wellbeing and life
satisfaction.

--------------------------------------------------------------------------------


CALM YOUR MIND. CHANGE YOUR LIFE.

Mental health is hard. Getting support doesn't have to be. The Calm app puts the
tools to feel better in your back pocket, with personalized content to manage
stress and anxiety, get better sleep, and feel more present in your life. 

Images: Getty

 

money worriesmoney anxietyfinancial stressfinancial anxietyanxiety
Calm Editorial Team



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