Covid came in faster than a speeding train and hit harder than anyone ever expected it would. Millions of Americans have been impacted financially in one way or another. While the stimulus packages helped reduce some of the burdens, for so many, they only scratched the surface of problems. If your work status has been impacted by covid, there are ways to cope with your financial anxiety.

Give Yourself Grace And Acceptance

If covid or complications from covid have sidelined you, the most important thing you can do is give yourself grace. It’s absolutely normal to feel upset and aggravated over missing work and the consequences that may follow. Feel your feelings, but remember to give yourself some grace. The global pandemic happened but was not preventable by anything you could have done differently. Accept your situation in this present moment and work through those feelings.

Control What You Can Control

You have no control over the global pandemic nor power over how the economy reacts in the face of it. Being annoyed or fearful is likely to happen, but it’s important not to live in that emotional state. Take this time to evaluate your current financial situation. Maybe you’ve been putting off making a budget or re-analyzing your portfolio. Now is a great time to take on this task and gain a clearer picture of your situation. Shift your focus to matters you can control, like your reactions and responses.

photo of a person laying on a couch underneath a blanket with only their feet showingContact Your Service Providers

Take this time to look into relief sources like unemployment, rent assistance, utility relief, or other available state services. Contact your landlord to see if alternate payment options or accommodations can be made. Can your payments be deferred? The same goes for a mortgage company. You never know until you ask. Try contacting your credit card company to see if you can obtain a lower interest rate or defer payments. In this new covid era, companies may be more willing to help or have new resources available.

Avoid The Unnecessary Purchases And Risks

Whether you’ve never had a budget before or you have but needed to adapt it, having a leaner version can be key. An emergency budget will keep your spending to the necessities and not splurge purchases. As tough as this one may be, placing holds on things like subscription services or entertainment options might ease some of your financial strain. It doesn’t have to be permanent, but it can be a large help in the short term. The same idea goes for takeout. Increase your home meal prep to give you more bang for your buck.

If you don’t have a stockpile of savings, which would place you in a good majority of people, now is not the time to make large purchases or go on a stock-buying spree. Keep your funds safe for needed purchases. Also, keep yourself as safe medically/physically as possible to avoid further work loss.

Practice Mindfulness And Self Care

This can be a very stressful and triggering time for you. If one of your coping mechanisms normally is to swipe that card and shop online, you need to find a new way to offset some of the stress. Practicing mindfulness can be a great way to get your stress in check and keep it at bay. Meditation will help reduce negative thoughts and redirect them into a more positive focus. Get routine exercise to keep your body moving. You may find yourself living within new, more restricted means, so having a good self-care routine to take care of your mental health will be exponentially important.

If your anxiety is running rampant over financial matters stemming from covid, now may also be a time to speak with a professional. Contact us today for a consultation for anxiety treatment.