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CEO Minute Article – Financial Worries: Don’t Let Them Get the Best of You

30 Sep, 2010

CEO Minute Article – Financial Worries: Don’t Let Them Get the Best of You

Financial Worries: Don’t Let Them Get the Better of You

If you have had to tighten your belt, it’s normal to experience anxiety. And when you read about failing businesses and people losing their jobs, you can understand why many experience financial worries. Money is connected with security, a basic need. When our basic needs are threatened, we feel alarmed or anxious.

Mild anxiety can actually motivate us to take positive action. Indeed, that seems to be its role. We can’t let go of what’s bothering us until we face the situation, and then we often find that the anxiety has lessened or gone away. Severe anxiety is another story, however; it debilitates. If your anxiety is crippling, you might want to see a doctor.

Below are some simple strategies that can help reduce anxiety by using it as a spur for action, by calming the nervous system or both. Ease anxiety and use it productively.

  • Be proactive. You can’t direct the marketplace, but you can gain a sense of control and reduce your anxiety by being more proactive around your finances. Face the reality of your situation and take appropriate steps, whether that’s reducing expenses, negotiating with creditors, or seeking other sources of income.
  • Acknowledge your role. Facing questionable financial or business decisions will help you let go of anxiety around those decisions. Understand why you made the choice, make any necessary changes or corrections, and then move on.
  • Focus on the good. When fear arises, remind yourself of the stability in your life: your savings, solid business plan, your own good health, or perhaps spouse’s income.
  • Exercise. Physical activity can lighten your mood and discharge anxious energy. Have you ever tried yoga or meditation? Both have been proven to lower stress.
  • Spend time in hot water. Warm baths and hot tubs can soothe the nervous system.
  • Seek engaging sources of recreation. A light-hearted or funny movie can shift your entire mood. =)
  • Plan for the future. Deal with the realities of today, but keep making plans for the future. By doing so, you assure yourself that things will get better.

So face your anxieties, take the actions that present themselves and watch your anxiety ease.

Maria Hebda