4 ways money anxiety hurts you—and 4 ways to fix it

If you’re like many people, you worry about money. In fact, money and the economy were among the top-rated stressors for adults in the 2023 Stress in America survey conducted on behalf of the American Psychological Association. 

Financial stress can take a serious toll on your well-being, increasing your risk of heart disease, depression, and other health issues. Learn how it may affect you, plus effective ways to ease your mind.

Hedy Marks is a medical journalist who writes frequently about all aspects of managing your health.

About 4 in 10 adults in the United States reported that they or a family member delayed healthcare because of the price, according to a 2022 poll conducted by the Kaiser Family Foundation. People in worse health, people without health insurance, and Hispanic adults were significantly more likely to postpone compared to other groups.

Money is a common stressor, no matter how much or how little a person may make. Some stress can motivate you to take charge of your finances. For others, paralysis and catastrophic thinking can raise anxiety levels. But with financial knowledge and work, you can turn things around. Here are tips to help you ease stress and get on top of your finances.

Exercise is a proven stress reliever, so carve out time each day to unwind. There are plenty of ways to get exercise without a gym membership. Try feel-good stretches; do flexibility exercises to improve balance and stay limber; perform strength-training moves. Get your heart rate up by going for a jog or a bike ride. Even a 10-minute walk around the block can help reduce stress.

Don’t let money woes come between you and your partner. It’s essential to be on the same page about your finances, whether it’s coming up with a plan to reduce debt or working toward mutual goals, such as saving for a house down payment or retirement. Try to really listen to each other and avoid assigning blame about why you may be experiencing financial difficulties. Keep your priorities in mind.

Even though you may not be able to control your income, you can manage how you spend it. Evaluate your current situation and identify what worries you most. If you don’t have a budget, review your income and expenses and come up with a realistic spending plan. Be sure to put some money aside for savings, no matter how small the amount. If you don’t have an emergency fund, that’s a good place to start. An emergency fund will help you avoid using credit cards when unexpected expenses come up, like car repairs. And do allow for the occasional splurge—within your budget.

If you’re having financial difficulties, you may feel you don’t have a dime to spare for money advice. But there are non-profit resources available that offer support, education, and affordable, hands-on services.

• At the National Foundation for Credit Counseling, certified credit counselors help clients come up with realistic options for handling money problems such as debt overload; many services are provided at no or low cost.
• Money Management International is a nonprofit organization that offers budget, debt and student loan counseling, foreclosure prevention, and more.
• Debtors Anonymous offers a 12-step program and support for those whose debt has had an extreme impact on their finances and their lives.