Weathering the Storm of Financial Stress

Soaring unemployment, the bursting of the housing bubble and the meltdown of the stock market is fraying the nerves of a growing number of Americans.

In a new survey, by insurer Country Financial, three out of four Americans admitted that the current economic recession is causing more stress on their family with one-third admitting it as sparked more arguments with their spouse or children.

In another poll by the American Psychological Association, nearly half of Americans said they were more stressed out than a year ago, with one-third rating their stress level as ‘extreme.’  This was in September of 2008, before the stock-market free-fall.

Medical centers and family practitioners have reported a surge in demand for mental health assistance, at levels not seen since the September 11 attacks.  

“Are people worried?  Absolutely,” said Dr. Richard A. Chaifetz, chairman and CEO of ComPsych, the world’s largest provider of global employee assistance programs.  “We’ve seen a significant increase in calls related to overhauling household budgets and also in hardship cases, where people are seeking outside assistance for paying basic bills.”

We’re designed to thrive under a moderate level of stress.  Stress can be a motivator; helping us to prepare for an upcoming deadline or challenge.  It gives us extra energy and alertness when we need to perform.  However the human body was not designed to withstand unrelenting levels of stress over long periods of time.  Ultimately, our immune system is compromised, making us susceptible to injury, illness and disease.  

“These are tough times for everyone,” said Lucinda Bassett, Founder and President of the Midwest Center for Stress & Anxiety.  “People are stressed out.  They’re tired because they’re not sleeping well.  They’re more irritable.  There’s so much insecurity about their jobs, their savings and the future.  Now more than ever, people need to manage their emotions in order to remain healthy and feel insecure.”

Lucinda Bassett offers the following tips for managing stress in these economically challenging times.

Let go.  Focus on the things you can control and let the rest go.

Get active.  Try and get at least 30-minutes of exercise daily.  Even a moderately paced walk can do wonders for emotional outlook.  Exercise is a great way to release tension and burn up chemicals that are released in the body’s response to stress.  Exercise has been proven to enhance mood.

Get Creative.  Look for ways your family can save money.  Cook simpler meals.  Become a coupon shopper.  Reduce household energy consumption.  Eliminate discretionary spending while you build up savings.

Tune out.   Turn off the TV and stop reading all of the bad news.  

Laugh.  Rent a comedy.  Spend time with family and friends.  Play with your children.  Look for humor in your daily life.  Laughter has been proven to reduce stress hormones in the body and increase the level of health-enhancing hormones like endorphins.

Get a good night’s sleep.  Try and get eight hours of sleep each night.  Being properly rested helps you handle stressful situations throughout your day.