x
Breaking News
More () »

Inflation & mental health: Changing your relationship with money

What you can do to think about money in a stress-free way.

GREENSBORO, N.C. — Groceries are up. Gas prices are up. It may be making you feel down. You wouldn’t be alone.

Recent data shows that 42% of Americans say financial worries are impacting their mental health, especially women and millennials.

"Just understanding what is driving your fears and anxieties can be the great first step and then figuring out how to address those issues,” said Rikki Harris, CEO of Tennessee Voices.

How do you do that? A co-worker is seeing a counselor for anxiety, some of it money-related. Here are two things that were shared with me that may help you too.

This first one is an exercise. Write down what money means to you, and your relationship with money. For example:

Money is….

Stress

Made to spend

Made to always have enough to go around

Used to fix hard things

Then the other side of it is what you want your relationship to money to become.

I want Money be: 

Saved

Have value

Controlled, not to control me

To keep you accountable, use a sticky note on your mirror, window or your computer to remind you.
 The second idea is, that whenever you want to worry about money, instead learn about money. Use your worry time to read an article or listen to a podcast about cost-saving, and budgeting.


Like most other worrisome issues, remember to practice self-care.

"If you're taking care of yourself, and you're pouring into yourself and you're strong and healthy, then you've got enough juice, enough oxygen to help someone else, and that could be your family, your spouse, your kids,” said Harris.

There are free resources, for instance, the Consumer Protection Financial Bureau has quick reads on everything from topics like credit cards and scores, money management and translated financial terms.

    

Before You Leave, Check This Out