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Five Ways To Cope With Economic Stress

Posted on: February 9, 2021

Individual Counseling Insights brought to you by California Psychotherapeutic Resources, Inc.

There’s a good reason that the new Biden administration and congress have made an economic relief package a top priority. It’s due to the simple fact that the economic impact from the pandemic and the resultant lockdowns has been huge and, unfortunately, affected some people far more than others. For many people that means an incredible amount of economic stress added to the initial burdens of dealing with social isolation, home schooling, disrupted exercise routines and, of course, possible health consequences of contracting Covid-19.

Money problems and stress

In an article on the American Psychological Association’s website, the APA points out that “Money is on the minds of most Americans. In fact, according to the American Psychological Association’s 2010 Stress in America survey, over three-quarters of Americans (76 percent) cite money as a significant cause of stress. And while the economy appears to be becoming healthier, personal financial problems still worry many Americans.”

How to cope with this additional issue? The APA offers a few valuable tips:

  • Pause but don’t panic
  • Identify your financial stressors and make a plan
  • Recognize how you deal with stress related to money
  • Turn these challenging times into opportunities for real growth and change
  • Ask for professional support

For more information on each topic, see the complete APA article here. Though it may feel like a return to normalcy is still far off, it might help to step back and see the big picture — we’ve come a long way, vaccinations are rolling out and our resilience can be source of comfort going forward.

Posted in: Individual Counseling