Healthline: How to Cope with Inflation-Related Anxiety
"A new poll suggests that the ongoing COVID-19 pandemic isn’t the biggest worry Americans face.
According to results from the American Psychiatric Association (APA) Healthy Minds Monthly Poll, nearly 90% of residents in the United States report feeling anxious or very anxious about inflation, an increase of 8 percentage points from the previous month. With inflation at a 40-year high, the APA poll also revealed that over 50% of Americans are worried about a potential loss of income.
According to Sullivan, when people feel a loss of control over things that are important in their daily life, it not only causes psychological distress but over time, it could also have adverse effects on their physical health. However, there are a few ways you can cope with stress and anxiety caused by financial strain due to inflation.
Lean on friends and family
Sullivan said that sharing concerns about financial stress with friends or family is often a good way to start.“There is nothing wrong with leaning on family and friends for support,” he said, adding that it’s important to let those close to you know you’re experiencing stress and need their support.
Seek professional help
Connecting with a mental health professional may also be helpful to manage stress related to finances. However, the decision to seek professional help depends on how severely someone is affected by their money stress.
Work with a financial planner
For those who can afford it, hiring a financial planner could pay off. Katsarov said that some people may be able to access a financial planner or credit counselor through their work benefits.
Connect with community
According to Katsarov, community-based organizations can help connect people to available governmental or state programs for aid, like rent assistance, utility assistance, and food resources.
“Community-based organizations can assist people who don’t have access to traditional financial resources,” she added.
Summary
- A new poll from the American Psychiatric Association (APA) shows that anxiety about inflation and loss of income is surging among Americans, particularly Hispanic adults, mothers, millennials, and Gen Zers.
- The poll indicates that COVID-related anxiety is decreasing as stress about social determinants like income insecurity increases.
- Experts suggest that people can turn to community-based organizations for support and that it’s important to recognize the signs of stress and to know when to ask for help."
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#Finances #Inflation #Anxiety #Stress
💬 Do you find yourself worried about current inflation? What can help you to reduce the stress connected to finances?
@globalBraid3744
Inflation is definitely getting quite out-of-hand nowadays. It's great to keep precautionary measures with finances, but like this article said it's important to keep your mental and physical health aligned as well. We live in a world where finances affect every part of our lives, so it's vital we stay aware of those aspects as well.
@sunnyWriting4806
Thank you for sharing your thoughts! Do you also take any precautionary measures with finances these days?