Money coaches in business for themselves are no more immune than the rest of the population to moments of anxiety about money! And today, for the first time in months, I had waves of anxiety. (and having worked with high-income earners as well as middle-income canadians, I just bet that the likes of oprah et alia aren’t exempt either!). I’ve learned some good strategies to handle my anxiety and offer them to you.
My Top 5 Methods of Handling Financial Anxiety
- Distinguish between cash flow issues, and overall net worth. Cash flow can be navigated, including choppy waters. Net worth is the grounding point. (and if any readers are panicking because they don’t have much net worth either — this is just one in five! Read point #5 – it will help!)
- Clearly differentiate between self-worth and finances. Fortunes come and fortunes go. So do the tighten-the-belt times. We are not our finances! We are, in Lynn Twist’s words, fully sufficient as human beings irrespective of our bank accounts. So let’s not overencumber ourselves by adding our very sense of Self into the mix!
- Remind ourselves of the numerous times we have handled tough moments. Life simply isn’t easy – not for Britney Spears, not for Owen Wilson, not for anyone. The real test, in Kipling’s words, is: “If you can meet with triumph and disaster And treat those two imposters just the same.”
- Do some deep breathing exercises. Take deep breaths in … and let go of the past. The past is in no way a determinant of our future. Take deep breaths in … let go of the future. It hasn’t yet arrived. We do no know what it holds, in any direction. Anxiety about the future is based on nothing real. Take deep breaths in … and enter the flow state of Now. In that calmed state, approach your current circumstances and … #5….
- Turn the anxiety into productive action. In the calmed state, review the situation, and make plans. They don’t have to be perfect plans. They can be adjusted. They don’t have to be Ultimate plans. They just need to give some methods of navigating through the current financial circumstances. Lay out the facts. Give yourself breathing space to come up with ideas. It may come down to ‘which is least unpleasant’, but more than likely, it will come to something that is manageable.
Do you have strategies of managing your anxiety? What are they?