Diseases of the soul are more dangerous and more numerous than those of the body – Cicero.
As the talk of high cost of living, rising consumer debt and declining retail sales bring up worries about the nation’s economic health, many of us in Nigeria feel additional stress and anxiety about our financial future.
Money is often on the minds of most Nigerians. In fact, money and work are two of the top sources of stress for almost 75 percent of Nigerians, according to a recent stress survey. Add to the mix headlines the dreaded economic recession, and many begin to fear how they can handle any further financial crunch.
But, like most of our everyday stress, this extra tension can be managed. Psychologists first recommend taking pause and not panicking. While there are some unknown effects in every economic downturn, our nation has experienced hard times before. There are however, healthy strategies available for managing stress during tough economic times.
The following tips can help you deal with your stress about money and the economy:
Pause But Don Not Panic.
There are many negative stories in newspapers and on television about the state of the economy. Pay attention to what is happening around you, but refrain from getting caught up in doom-and-gloom hype, which can lead to high levels of anxiety and bad decision making. Avoid the tendency to overreact or to become passive. Remain calm and stay focused.
Identify Your Financial Stressors and Make a Plan.
Take stock of your particular financial situation and what causes you stress. Write down specific ways you can reduce expenses or manage your finances more efficiently. Then commit to a specific plan and review it regularly. Although this can be anxiety-provoking in the short term, putting things down on paper and committing to a plan can reduce stress. If you are having trouble paying bills or staying on top of debt, reach out for help by calling your bank, utilities or credit company.
Recognize How You Deal with Stress Related to Money.
In tough economic times some people are more likely to relieve stress by turning to unhealthy activities like smoking, drinking, gambling or emotional eating. The strain can also lead to more conflict and arguments between partners. Be alert to these behaviours—if they are causing you trouble, consider seeking help from a psychologist or mental health experts (Psyche) before the problem gets worse.
Turn these Challenging Times into Opportunities for Real Growth and Change.
Times like this, while difficult, can offer opportunities to take stock of your current situation and make needed changes. Think of ways that these economic challenges can motivate you to find healthier ways to deal with stress. Try taking a walk— it is an inexpensive way to get good exercise. Having dinner at home with your family may not only save you money, but help bring you closer together. Consider learning a new skill. Take a course through your employer or look into low-cost resources in your community that can lead to a better job. The key is to use this time to think outside the box and try new ways of managing your life.
Ask for Professional Support.
Guidance and counseling services and financial experts are available to help you take control over your money situation. If you continue to be overwhelmed by the stress, you may want to talk with a psychologist who can help you address the emotions behind your financial worries, manage stress, and change unhealthy behaviours.
Go for A Financial Breakthrough.
To overcome the stress and anxiety about your financial future at this though period of economic downturn, all you should look out for are genuine opportunities that can give financial breakthrough and help you achieve incredible financial freedom. They lie all around you, but only the guys with intelligence and insight pounce on them.
Nonetheless, don’t you think you should start looking outside your present paid job and profession, if you are not financially satisfied and really need to hit it big? Remember, “You can’t Get Rich Working for Someone” (except of course, you work in the big oil companies).
So why not take hold of your future today? Start doing something that will earn you some cool extra cash outside your paid job. That’s definitely a key to financial freedom!
See you at the top!
Jayjayprof
