Managing Stress in Tough Economic Times

Suzanna de Baca -- Expert Business Source, 11/18/2008 8:11:00 AM

Is the difficult economy stressing you out? According to the American Psychological Association’s 2007 Stress in America survey, money and work are two of the leading sources of stress for almost 75 percent of Americans. Since most Americans can’t really avoid money or work, how can we reduce the pressures caused by today’s uncertain economy?

In a recent Expert Business Source article entitled “Coping with Economic Fear and Uncertainty,” I posed a number of questions that individuals can ask themselves to try and gain some perspective on the changes they may be facing. There are also some steps you can take to manage stress on a day-to-day basis.

Mind your body. An article on stress management on the Iowa State University Extension website suggests that taking care of your body may be one of the most important ways to combat stress. Try to get enough sleep, eat a healthy and balanced diet, and get plenty of physical exercise. If you can actually increase exercise, it can be beneficial to your ability to sleep and to your mood.

Mind your emotions. In addition to caring for your body, it is also important to tend to your emotional health. Working hard may be necessary in this environment, but take time for relaxation and engaging in activities you enjoy. Try to remain positive and remember that the markets and economy will eventually recover. If you find it difficult to cope or feel overwhelmed, find someone you can confide in: a friend, your spouse, a family member, religious counselor or a therapist. 

Many people are experiencing the same anxieties around money and economic matters and it is important to remember that you are not alone. In addition to minding your money matters, take good care of your body and your mental health.

Suzanna de Baca is president of Private Capital Solutions Group. Securities offered through Broker Dealer Financial Services Corp. Member FINRA & SIPC. Investment Advisor Representative of Investment Advisors Corp., A Registered Investment Advisor. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal or investment advice. Although the information has been gathered from sources believed reliable, please note that individual situations can vary, therefore the information should be relied upon when coordinated with individual professional advice