Tips to Manage Financial Anxiety

Just about everyone has a complicated relationship with money. Many different people worry about whether they will be able to afford their monthly needs, and this can cause a tremendous amount of stress.

Financial anxiety is when a person is in a state of constant worry or unease because of money. Below, we’ll take a look at why someone might have financial anxiety, and how they can manage this by changing their spending habits for the better.

Money Woes and Financial Anxiety

In modern society, money allows us to survive. It allows us to pay our rent/mortgage so that we have shelter, and it allows us to buy food to eat and clothes to wear. When money starts to get tight, it is no wonder that people start to get anxious. One of the leading causes of financial anxiety, therefore, is the constant worry that one doesn’t have enough money to survive or adequately look after themselves or their family. Financial anxiety can manifest in other ways, too. Other forms of financial anxiety include compulsive spending, as well as continually worrying about whether something is too expensive. Financial anxiety can also be caused because of gambling, drug addiction and general overspending.

If you are always worried about your finances, it could be having a serious toll on your mental and physical health, and it is first essential that you speak to a professional about these anxieties. It is also important that you consider speaking to a professional financial adviser, as they are trained in being able to help those in financial difficulty get back on track.

Finance Tips

For most people, financial anxiety stems from the constant worry that we may not be able to afford necessities. Fortunately, there are some straightforward and simple ways to cut down on your spending so that you can ensure you have enough money to cover your bills. Here are some easy financial tips to help alleviate your financial anxiety:

  • Budget: Many individuals who are worried about their finances don’t know what money they have coming in and out every month, and therefore overspend. Budgeting is a relatively easy thing to do and will help alleviate financial anxiety by providing you with some clarity about your finances. Once you know your earnings and outgoings, you will be able to see how much money you have left to spend actually. Make sure you don’t spend more than you have.
  • Start Saving: One of the best ways to alleviate financial anxiety is to have savings. Savings ensure that, even if you do get into financial trouble, you will have a safety net so that you will never have to borrow money. Once you have worked out your budget, try to place a small amount of money each month in a bank account that you can’t touch. This will ensure that you don’t spend your savings until you need them.
  • Check your Bills: One of the significant financial payments we make every month that could cause you financial anxiety is billing. Utility bills can take up a big part of your budget, and are a necessity. However, many people are paying too much for their utility bills. If your bills are higher than usual investigate as to why. Knowing why they are higher is the key to knowing what to change and how to get your bills lower. Is your direct energy bill higher than usual then think of ways that you can save energy and cut your utility costs. For example; your AC usually accounts for the majority of your utility costs so adding thermal blackout curtains to your home will help insulate your home and help significnatly help lower your heating and cooling costs.


Dealing with money and finances can seem hugely overwhelming, which is partly why so many people can suffer from financial anxiety. If you are suffering from this anxiety, it is first important that you seek professional help to overcome this. The next step is to take control of your finances and set yourself a budget so that you will always stay on top of your finances and can relax.

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