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The primary position of money as a top priority undoubtedly gives rise to many concerns and stress, known as "money anxiety." Money anxiety is when a person feels excessive worry, fear, and anxiety regarding their financial situation or personal money. Anyone can experience money anxiety, so individuals often fail to realize when they are experiencing it.

What is Money Anxiety?

Money anxiety is not only related to the amount of money one possesses. Even individuals with high incomes can experience money anxiety. It can be said that money anxiety is associated with a person's perception of finances and how they manage them. Money anxiety can harm mental health, quality of life, and personal relationships if left unchecked. Causes of Money Anxiety Several factors can cause the emergence of money anxiety:

1. Worries about future financial prospects

Uncertainty regarding employment, income, or retirement can lead to ongoing concerns about one's financial condition.

2. Social comparison

The existence of an ideal standard of living set by society or comparing oneself to others who appear more financially successful creates pressure and reinforces anxiety related to money.

3. Inability to manage money

Lack of financial literacy or skills in managing personal finances can lead to worries about economic issues.

4. Unexpected life events

Unexpected events such as job loss, health problems, urgent needs, and others can generate financial worries.

Signs of Experiencing Money Anxiety

Money anxiety is often mistaken for regular stress or anxiety, leading to it being frequently overlooked. Therefore, it is crucial to recognize signs of someone experiencing money anxiety. The following are some indicators:

1. Feeling dizzy or experiencing stomachaches upon seeing the bank account balance.
2. Frequently delaying payments of installments or monthly bills despite being able to afford them.
3. Constantly feeling the need for additional work to increase income.
4. Having difficulty sleeping at night due to excessive worry about unexpected expenses.

Ways to Overcome Money Anxiety

Although money anxiety can harm overall life and feel highly burdensome, there are several steps to overcome it:

1. Create a financial plan

Develop a realistic and transparent method, including budgets and short-term and long-term financial goals. Also, plan for the future by considering options such as deposits or investments. Having a sound financial plan can minimize worries about uncertain economic conditions.

2. Adopt a realistic attitude

Recognize that finances are an ongoing journey, and each person has a unique path. Avoid comparing oneself to others and focus on the established plan to achieve stable and specific finances.

3. Improve financial literacy

Enhance financial literacy by reading financial books or learning directly from experts through online classes and seminars.

In conclusion, that was the discussion about money anxiety. It is essential to understand that while money is necessary, other priorities must be considered. Therefore, keep concerned about cash from becoming a significant obstacle to achieving other goals and financial freedom.

Source : Forbes.com