Today’s post is about always being informed and on top of things … not about fear. The possibility of an economic downturn, even for a brief time, could have you concerned about your money and assets. If you’re finding yourself stressed about this, the following could help you gain a sense of peace, and see a brighter financial future. But before giving you a short list of things that could help you during this time I want to remind you to…
Remember Your Source
“And my God will meet all your needs according to the riches of his glory in Christ Jesus.” [Philippians 4:19 NIV]
We all need sources in our lives. A source is A supplier of something that we cannot produce on our own. For example, in your house, if you want to be warm during the winter, you need a source of energy. Fortunately, most of us have access to gas to run our heaters. ThE gas line coming into your house is one of your sources. Most of us also have sources for water and electrical power services. But these are natural sources, and we actually have an even better source!
There is nothing you need that God can’t provide. None of us know what we’re going to need the rest of this month, this year or next. But whatever it is, God has the power to supply it.
“Therefore don’t be anxious, saying, ‘What will we eat?’, ‘What will we drink?’ or, ‘With what will we be clothed?’ For the Gentiles seek after all these things, for your heavenly Father knows that you need all these things. But seek first God’s Kingdom, and his righteousness; and all these things will be given to you as well. [Matthew 6:31-33 MEV]
So, having said that, here are 3 things you should consider during financially stressful times:
Remain Calm
“Peace I leave with you; my peace I give you. I do not give to you as the world gives. Do not let your hearts be troubled and do not be afraid.” [John 14:27 NIV]
When we feel threatened, our fight or flight response mechanism — the body’s stress response — kicks in and makes changes in the body. That’s why it’s important to have some stress relief strategies that can be used in a variety of situations, to calm your body’s stress response so you can think clearly and stay healthier. Then you can work on solutions.
Here are just 2 simple stress relief strategies that can work if you will just try them:
Breathing Exercises
Breathing works well because it can be done anytime and anywhere. People don’t have to know you’re even doing it, but focusing on your breathing can help you calm your body and soothe tense emotions within a few short minutes.
Journaling
If you already feel stressed, try journaling about your stressful emotions. This can help get them out of your head so you don’t end up dwelling on what’s stressing you. When you end your journaling session try thinking about some solutions, and you’ll get a better sense of control over the situation and a more positive attitude.
Even though we can’t always control what happens to us, much of how we respond to life’s events depends on how we view what’s happening; how we make sense of it all.
If we see a life event as a threat, we may react more negatively and helplessly than if we see it as a "challenge." If we imagine that things will never change, a stressful situation feels more overwhelming than if we remember that this, too, shall pass.
Reframe the Situation
“And we know that in all things God works for the good of those who love him, who[a] have been called according to his purpose.” [Romans 8:28 NIV]
Here are some specific types of reframing that can be very useful in getting through a financial crisis:
If you’re feeling some stress about your financial situation, remind yourself that many, many people are in this situation as well. The situation many of us may be experiencing is not a failure on our part, and working through it only demonstrates our strength.
If you’re concerned about the impact on your family, remind yourself that families can grow stronger and closer when they weather challenges together and that this experience (although you may not have chosen it) can make your family stronger, too.
If you’re stressed about the uncertainty of the future, remind yourself that these changes also bring opportunity; down the road, you may find yourself in an even better place. Even if you don’t have more money, you may have more happiness.
Get the idea? By acknowledging the feelings and thoughts you have, and gently redirecting your attention to the positive, you can lessen the stress you are experiencing. When you’re not feeling crushed under extreme levels of stress, you may even make choices that better maximize the opportunities that you still face.
Another way to reframe a situation is to take a break from it and return later with a more relaxed attitude and a fresh perspective. Many people don't know how to 'take a break' from stressful thoughts, especially when stressing about finances. They tend to dwell and remain stressed. Spending more time doing fun activities with family and friends, enjoying hobbies, or even simply watching comedies on t.v. can get you into a better frame of mind. These activity-oriented reframing techniques, as well as the mental reframing techniques mentioned, could lead to less stress and an "upward spiral," rather than a downward one.
Reach Out When Needed
“So I say to you: Ask and it will be given to you; seek and you will find; knock and the door will be opened to you.” [Luke 11:9 NIV]
If you feel that the stress of your financial situation is too much for you to handle, it’s important to ask for help. People are often afraid or ashamed to ask for help from others, but asking for help is sometimes the wise and necessary thing to do. Help can take many forms:
Friends and Family
The people who love you don’t want to see you suffer alone. If you need a wise ear or a shoulder to cry on, friends and family are usually very good at offering the type of comfort and support. In fact, that’s what they’re there for.
Financial Advisors
In financial crises, sometimes the type of professional help you need can come in the form of someone who understands money crises better than the rest of us. Often, getting a plan put together with the help of a professional can take much of the stress away — you may feel more in control, less alone, and more optimistic about your situation.
Mental Health Professionals
Don’t underestimate the importance of the other type of "professional help" when you’re experiencing a crisis. Sometimes the stress of a financial crisis can be more than one person can — or should — handle alone. If the stress relief techniques mentioned in this article seem to be not nearly enough help for the types of stress you’re facing, it may be time to talk to your doctor. If you’re feeling an overwhelming sense of hopelessness, a lasting loss of interest in activities you usually enjoy, or a general feeling that you probably do need more help, for example, a professional can offer more in-depth options that can help you through these difficult times.
To Sum It Up
A financial crisis presents significant change and challenge to be dealt with, but it can also be a valuable learning experience, and a stop on the road to more stable financial times and a healthier long-term attitude toward money. For example, a financial crisis can inspire more frugal habits, better long-term planning, and an attitude of gratitude for material possessions and other important things in life. And even serious financial problems, like foreclosures and bankruptcies, can be overcome. That’s why it’s not only important to make a plan to get through tough times, but it’s important to have a positive attitude toward the future.
If you keep your eye on the possibilities of the future and bear in mind that much better times can be created ahead, dealing with financial challenges of today can be less stressful. When creating a plan, you should look at all the possibilities you have open (even if it may not seem like there are many), and talk to as many wise people as you can, in order to be sure there are no avenues you’re overlooking. You may want to speak with a financial advisor or credit counselor, for example, and get a clear idea of where you are right now and where you’re going. Your plan may span several weeks, months or in some cases even years, but it’s important to have an idea of how you’re going to handle this crisis. Not only will it be easier to know what to do, but having a plan can put your mind at ease so you’re not thinking about finances and "what to do" all the time.
In addition to making a plan and maintaining a positive attitude, it’s important to keep your positive vision for the future in mind. Your long-term goals may include a stable financial situation for yourself and your family and a life that includes joyful activities and close relationships. Your short-term goals may simply include getting through the next month — or week — in a relatively peaceful state. Both long-term and short-term goals are important.
You can create a vivid mental image of what you hope to find in the future, and revisit it often, or you may want to create a vision board for yourself to flesh out what you’d like to see in the future.
Keep your eyes on your goal, and don’t look down.
READ NEXT: 4 Simple Ways to Relieve Money Stress