It has been more than a year since we have been plagued by the COVID-19 pandemic, and many of us are experiencing financial constraints because of the pandemic. Living in uncertain times is difficult to remain positive as we do not know when this would end and when we will be able to bounce back up from this. That said, we can’t stop what life brings but we certainly can learn how to live through it.
Here are 5 ways to manage our COVID-19 related financial anxiety:
1.Start with Awareness & Acceptance
Having to live in such an unprecedented time, we must first find our way towards accepting the reality as such. Things may not go back to normalcy anytime soon, and perhaps, it will never return back to our old ways of living. However, if we could give up trying to control the current state of affairs, and focus on accepting it, we would then be able to lower our stress reaction.
That said, to feel anxious and worried about our financial situation is only normal but if left unchecked, it can lead to depression, anxiety and physical issues such as headaches, backaches, ulcers, increased blood pressure etc. Do manage your stress as it will help a bad situation from worsening.
Hence, do be aware of your stress levels by using a mood tracker or doing body scans. And if your stress level is getting too high, use a coping method to relax – which can be anything from exercising, meditating or even curling up to watch a movie.
2.Limit Your Exposure to Triggers
Yes, we should remain informed about the latest news updates, however, do you know there is such a thing of too much news? It can be a trigger for panic and anxiety, this is especially when you see your social media feeds that very often do not communicate the facts accurately. So, ensure you’re reading news from a credible and trusted source and fight the urge to go “down the rabbit hole”.
Limit yourself on checking for updates – check it in the morning and once at night and only turn on alerts for anything that is urgent. At the same time, set a dedicated “no screen” time in your daily lifestyle and spend the time talking with friends or family about topics that are not related to the pandemic, finances or the economy. Use this as a mental vacation to help you recover and recharge.