Do you have money on your mind?  Are your personal financial problems a source of stress? 

You are not alone! 

 According to the American Psychological Association (APA), 76% of Americans say money is a significant cause of stress. Although the economy seems to becoming more stable, personal financial problems still worry many Americans.

The good news?  Like most stress, this extra tension can be managed. There are realistic strategies available to you and your family to help manage stress during any difficult financial time.

Some tips provided by the APA include:

1. Pause, but don't panic.  In today’s world, news is available to us 24 hours a day 7 days a week.  There seems to be many negative stories about the economy in the media. It’s important to keep current on what's happening around you, but not to get caught up in the pessimistic hype.  This negative hype is linked to higher levels of stress and bad decision making. Try not to overreact to news and remember to stay focused on your own financial situation.
2. Identify your financial stressors and make a plan. It is important to examine your personal financial situation and identify those areas that make you worry. Determine how you and your family can decrease spending and simplify your finances by committing to a specific plan.  Revisit this plan on a regular basis.  Creating and committing to a plan can help reduce stress. 
3. Recognize how you deal with stress related to money. Because some people turn to unhealthy coping skills (drinking, smoking, gambling, etc.) during tough economic times, it is important to be aware of your own behaviors. Financial issues can also lead to more arguments between partners. If any of your behaviors are causing trouble, think about seeking help from a counselor before the problem gets worse.
4. Turn these challenging times into opportunities for real growth and change. Difficult times can offer you the opportunity to take stock of your current situation and make needed changes. Think of ways that financial strain can motivate you to find healthier ways to deal with stress. Maybe you can think of free ways to exercise (take a hike, walk the dog, etc).   You might also want to think about learning a new skill.  Check in with your employer or research low-cost options in your community to find out what type of classes might be available to you.  Mixing things up can offer great stress relief!
5. Ask for professional support. You do not have to go at it alone.  Your Employee Assistance Program can help you find resources to help you take control over your finances. If you find that you cannot control your anxiety or stress regarding your finances, you might want talk to a counselor who can address help find the emotional causes behind your stress and offer coping skills for anxiety.

For more information on how to manage your financial stress log on to www.anthemeap.com.

Reference: The American Psychological Association (APA). (2010, November 9). Stress in America findings. Retrieved May 27, 2011, from http://www.apa.org

KC is a Licensed Professional Counselor with experience working with victims of trauma, adults in crisis and adolescence suffering from substance abuse issues. She currently works as an EAP account manager.