Affluent Savvy
Photo by Tima Miroshnichenko Pexels Logo Photo: Tima Miroshnichenko

What causes money anxiety?

What causes financial anxiety? According to Blackwell, there are many triggers that can cause financial anxiety. Some common ones include a potential job loss, a money misstep, a lack of personal finance education or your childhood beliefs about money.

Should you wash jeans after every wear?
Should you wash jeans after every wear?

A good rule of thumb is to wash your jeans after every 3-10 wears, or when they start to smell. If you're regularly active in your jeans (think:...

Read More »
Which bank do rich people use?
Which bank do rich people use?

JP Morgan Chase (Private Bank) As such, they provide a variety of services, which include planning and advice, investing, lending, trusts, and...

Read More »
Awaken your dormant DNA ability to attract wealth effortlessly
Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

When it comes to managing our money, we face so many stressors on a regular basis — like, dealing with a surprise car repair and medical bills, to budgeting our paychecks to keep up with inflated grocery prices. But financial anxiety is more than just worrying about how much money we have in the bank. Anxiety over our finances can show up in all sorts of ways, and in some cases, it can lead to health problems like high blood pressure. At times, it can even become debilitating to the point where it's difficult to go through our day as it relates to our money. If you think you may be feeling more stressed than normal about your finances, this article can be helpful. Below, we define different examples of financial anxiety and how it can manifest itself, and then we cover get to how you can repress it. Subscribe to the Select Newsletter! Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here.

What is financial anxiety?

"Financial anxiety is more than just general worry about your money or checking your budget," says Corbin Blackwell, a CFP at Betterment. "It's a deeper and a more generalized anxiety about obsessing over your finances and how everything in your life impacts it, and also feeling like a failure because of where you're at." Although worrying about not having enough money is an example of financial anxiety, Blackwell wants us to know that that's not the only instance of experiencing it. Financial anxiety can also be when you obsess over saving every single dollar, become hyperaware of where your money is going or you imagine situations where you lose all your money. All of these examples involving your finances can cause uneasiness or worry that keeps you up at night or disrupts your day-to-day living.

What causes financial anxiety?

What is the safest stock to hold?
What is the safest stock to hold?

Dividend Aristocrats, which are companies that have increased dividends for at least 25 consecutive years, are considered safe stocks.

Read More »
Is money a symbol of wealth?
Is money a symbol of wealth?

Money is the symbol of wealth.

Read More »
Awaken your dormant DNA ability to attract wealth effortlessly
Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »

According to Blackwell, there are many triggers that can cause financial anxiety. Some common ones include a potential job loss, a money misstep, a lack of personal finance education or your childhood beliefs about money. "There's so much research out there about how your family unit introduces you to your relationship with money, so it can definitely be a trigger for how people relate to money," Blackwell says. For example, if you grew up seeing your parents struggle with money or go deeper into debt to afford basics, you may have gone into adulthood with a fear of debt. Or, unexpected expenses and paying for big-ticket items may leave you feeling hypervigilant about spending because you worry you won't have enough to cover other costs. On top of this, it's also common to experience high levels of financial stress around your income, especially since the cost of living keeps rising. "In general, things are very expensive, so it can be stressful to think about the amount of income you earn in relation to how much it costs to live — especially in cities," Blackwell explains. "A lot of things that people thought of as 'basics' are expensive and thinking about how to afford them can cause a lot of stress."

How do you curb financial anxiety?

Bottom line

Information about Marcus by Goldman Sachs High Yield Online Savings has been collected independently by Select and has not been reviewed or provided by the banks prior to publication. Goldman Sachs Bank USA is a Member FDIC. Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

What happens if a cat licks cinnamon?
What happens if a cat licks cinnamon?

Cinnamon contains coumarin, a naturally occurring compound that's medically used as a blood thinner. "A large dose could conceivably cause problems...

Read More »
Which zodiac signs overshare?
Which zodiac signs overshare?

They are an open book and wear their heart on their sleeve: Aquarius. This zodiac sign couldn't care less about what others think. ... Gemini....

Read More »
Awaken your dormant DNA ability to attract wealth effortlessly
Awaken your dormant DNA ability to attract wealth effortlessly

The simple yet scientifically proven Wealth DNA method laid out in the report allows you to effortlessly start attracting the wealth and abundance you deserve.

Learn More »
How long can I chant Om?
How long can I chant Om?

The chanting of Om should initially be done for three times. Slowly, you can work your way up to nine times. As soon as your meditation ends, start...

Read More »
Does money matter in life?
Does money matter in life?

Money matters to happiness, perhaps more so than previously thought, according to new research. One potential reason: Higher earners feel an...

Read More »