Stress Awareness Month: Has financial stress got the better of you?

Many people have suffered financial hardship during the pandemic, with jobs lost or at risk – and if it’s got the better of you, too, we have some advice below. Read on…

How have you been feeling recently? ‘Good’? ‘Great’? Just ‘Okay’?

Whether we like to admit it, this past year or so has taken its toll on many of us. It’s easy to paint on a smile and tell others we’re well, but when we sit back and ask ourselves how we are really feeling, the answer might be anything and everything but ‘chirpy.’

 

So, seeing as last month was Stress Awareness Month – we thought we’d see how you are. After all, the last 12 months have been trying in all kinds of ways. Young people specifically have been feeling more anxious, depressed and uncertain about their future than older generations, suggests new research featured here.

 

Many people have suffered financial hardship during the pandemic, with jobs lost or at risk – and if it’s got the better of you, too, we have some advice below. Read on…

 

Connect with Others

The impact of job loss and financial stress has had a huge impact everywhere, with this Life in Lockdown report stating that ‘younger people reported consistently higher levels of COVID-19 related concerns.’

 

If the pandemic has caused loneliness, particularly due to the strain of lost finances, we say now more than ever is the time to connect with others. Feeling lonely can exacerbate the way you feel about your finances specifically but catching up with friends and family – online or in person – can help hugely.

 

Socialising doesn’t have to cost anything; a walk in the local park will help boost your mental health, while an online chat with a trusted family member or friend may improve your mood too. The Stress.org site suggests that talking about stress and its effects with those you trust can help ‘reduce the stigma’ surrounding it as well.

 

It’s okay not to feel okay; seek the help you need and try to come up with a money-saving game plan that works for you.

 

Look After Yourself

It’s easy to get stuck in a rut – especially during the pandemic. Put self-care first, though, taking time out of your day to do something you enjoy. Exercise and eat well and you may find your stress levels drop dramatically.

 

Start small with a new exercise regime, by doing 20 minutes of activity per day and working up to doing 30 or 40 minutes per day, when you’re ready. We’re all much better at tackling our concerns head-on when we feel more refreshed – and exercise is great for your mind, as well as your body.

 

With millions of people experiencing high levels of stress, the Stress.org site has a fun but productive, 30-day challenge to try. Helping you regain ‘Connectivity, Certainty and Control’, it encourages people to pick one action within Physical, Mental and Emotional Wellbeing to carry out each day – find out more here.

 

Create Small Savings Goals

If you’re worried about your finances, create small, manageable savings goals and don’t overwhelm yourself by putting away too much, too soon.

 

Chat to others and ask them for their top tips on saving. You could also declutter your home and see if you have anything you can sell via online selling sites.

 

Doing things you enjoy – or acquiring things you want – doesn’t always have to cost money. For instance, if you’d like to update your wardrobe, why not consider a clothes swap with a friend or family member? You could also adopt a ‘one in, one out’ approach to your purchasing habits, only treating yourself to something new once you’ve sold something online that you no longer wear or use.

 

You could try rotating your clothes with the seasons and ‘hiding’ some items in storage boxes under your bed for a few months of the year. Every season, you could reintroduce to your wardrobe the clothes you’ve stashed away; this will be almost as good as a shopping spree, as you’ll find you have renewed vigour for items you haven’t worn for a while.

 

Put stress to bed in 2021 by being kinder to yourself and starting small where your savings are concerned. Here at Unity Mutual, we have several savings accounts which keep every kind of saver in mind – take a look or do not hesitate to contact us if you have any questions.

 

If you need financial advice

If you’re in any doubt about whether this product is right for you, it’s a good idea to talk to an Independent Financial Advisor (IFA). You can find a local financial advisor by visiting  www.unbiased.co.uk. You may need to pay for a financial advisor’s help, so make sure you ask them about their fees first.

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