Stress about Money - “Money Stress Is Killing Me”

Written by: Arooj Paulus – B. Sc (Applied Psychology)

Last updated date : March 07, 2023

Do you feel overtaken by money issues and stress? It is a real thing. Financial problems can make you stressed out. Despite your situation, there are methods to survive these difficult financial days, reduce your worry, and take back control of your stress. Pay attention to your body and mind when it screams that money stress is killing me. Let us discuss this in detail.

In this article, we will discuss stress related to money issues and how it affects you. In the end, we will discuss some tips to cope with it.

“Very practical suggestions” Peter

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Chapter 1:

What Is Money Stress?

The mental stress that is primarily tied to income is referred to as money stress. This type of stress may affect anybody, but it is common in homes with low earnings. Lack of income that allows you to cover your daily needs, such as housing, bills, and grocery buys, can cause stress.

People with lower incomes could feel more stress from their work. It is possible that their occupations do not even allow them to take time off. They may work under dangerous conditions. But they are unwilling to give up since doing so would make it difficult for them to sustain themselves while they seek other work opportunities. Hence it becomes a constant pressure and they feel like money stress is killing them.

Warning Signs
Here are some of the warning signs that you might be having financial stress.
  • Disputes about money with family and friends.
  • Isolating from others such as you may not attend gatherings.
  • Guilty thoughts about purchasing less necessary things.
  • Being extremely disturbed or nervous most of the time.
  • Fatigue and decreased energy.
  • Unexplained body pains and headaches.
  • Sleep problems.
  • Borrowing more money or using debit cards.
  • Fear of getting evicted because of unpaid rent or loans.
  • Income is less to pay costs.

All these signs can contribute to stress about money.

Chapter 2:

How Does Money Stress Effects Your Health?

Your health can suffer from any stress, but low income can be particularly harmful. Money stress may result in:
Unfit Bodily Conditions
Continuous financial worries have been related to a variety of health issues, including heart problems, diabetes, heartburn, migraines, stomach problems, and sleep issues. Our bodies cannot heal while we are under continual stress. This explains why people who are under constant stress may often have illnesses like fevers or other types of body pains. This is a sign that you are putting more strain on your body and mind, which is causing you to become weaker every day.
Missed Medical Care
People are under financial crisis whether it is a business loss or low income limit their expenses and only spend on areas which they think are most important such as rents. In this case, they often miss their routine checkups or ignore if they are sick. Research shows that people put off getting medical care due to the expense. They think that healthcare is just an extra expense so often ignore it. However, missing minor health problems can make a greater risk to your health which can, in turn, cause major expenses.
Adverse Effects on Mental Health
Health and poverty frequently go hand in hand. Poor mental health may contribute to poor economic health. When a person is in bad health whether physically or mentally, he or she fails to work properly which can then lead to the even worse financial condition, and so on. Researches show that people who are in poverty have greater rates of mental health conditions including stress and depression than those who are debt-free. So people who have money stress may feel like it is killing them.
Harmful Coping Ways
You may become involved in a range of harmful habits as a response to economic strain, such as binge eating or abusing alcohol or drugs. Further studies also suggest that people overeat or consume unhealthy meals to deal with stress as a coping management strategy.

Chapter 3:

Tips to Cope With Money Stress

Is stress about money killing you? Even though it may be hard to solve your money issues overnight, you may begin making plans for progress right now. Keep in mind that your tension is not brought on by your financial condition. By looking after yourself, you can reduce your worry to some extent. Here are some tips to cope with your stress.
Know the Cycle of Debt
You need to understand the debt cycle to break it. When you are trying to pay off debt, you risk skipping crucial costs that might end up costing you a lot of money in the future. For instance, what debt has the highest interest rate in your search results? Make a cost-benefit analysis and pay off the loans with the highest interest rates or the most drawbacks first.
Do a Financial Assessment
Make a list of your top financial worries. To prevent yourself from being upset, take stepwise efforts to solve each issue one at a time. Write out the steps you can take to start achieving financial security now or this week. Make a financial plan and stick to it for a month.

Try contacting your bank, local utility, or credit card company to explain your position if you’re having trouble paying your bills. They can set a monthly amount that suits your needs.

You can better control your stress by living a healthy life. We understand that stress may be isolating and paralyzing but try to move your body for at least 30 minutes. A morning walk is the best way to spend some time with yourself and nature. Ground yourself and allow some time for your body to relax as well. Though you may feel frustrated by your financial stress, keep in mind that there are tools available to you to help you manage both your stress and your money.

Chapter 4:

Call to Action

You can read “Money Problems: Overcoming Financial Loss” under the section on change at Epsychonline. To help learn about financial loss and how to manage your stress.

Further, you can enroll in the “DBT for Anger“, “Chronis Fatigue” or “Low Self-Esteem” courses on our website. Research has shown that money stress can cause irritability and anger issues. Since it takes a lot of time and works to obtain money, some people find that it is a source of anger. Furthermore, feeling beaten down by money worries can adversely impact your sleep, self-esteem, and energy levels. The mentioned courses will help you to cope with your stress and related issues.

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"Very practical suggestions" Peter

95 sections

6-Weeks Self-Paced

  • Educational Content
  • Quizzes
  • Self-reflection material
  • Suggestions & feedback
  • Worksheet, tips & tools to use

$9.00 $12.00

25% discount