Anxious Credit Crunching

August 22nd, 2008

The papers are reporting more about the credit crisis. Wall Street has plunged as oil hits an all time low. Just what we need to enjoy a weekend! Is the current credit crunch causing you anxiety? If so, how can you manage this?

Freud defined anxiety as a reflection of an unrealistic fear, so perhaps if the credit crunch is actually causing your finances to diminish, you are not experiencing anxiety but realistic fear. But I rarely find that semantics help in the face of real life. What is helpful is to look at how you can cope in the face of such a fearful situation. We all have coping mechanisms. Sometimes we may not realise how many different mechanisms we have at our disposal. Ignoring the situation, eating chocolate, relaxation and exercise are all coping mechanisms but some may be more helpful than others. If you cannot think of any coping mechanisms, think back over the last few weeks and list how you may have dealt with difficult situations which you are bound to have encountered. It is likely that this will show you an example of one of your coping mechanisms at work. Could it be useful in the current dilemma?

Perhaps it may also be useful to think of someone who seems to cope well in the face of lifes fearful situations. What do they do? Is this behaviour something you could try on for size, even if it is just for a trial period?

Relaxation is a key coping mechanism. You may already be aware of many forms of relaxation. If you are not, try giving yourself just a few minutes each day. I mentioned in my stress management blog last month that everyone has this opportunity, even if it is just in the toilet cubicle for a few minutes. Give yourself three minutes for deep breathing, just focusing on the breath and letting thoughts come, but then letting them go. Do not follow the thoughts, just keep bringing your attention back to your breathing. By deep breathing, your heart rate will have to slow down. It is what your body does. And even just a few minutes of this each day is bound to be of help, even if it is only in a small way. What use are you to the situation if you are so anxious, so stressed out that you cannot think?

Other useful tips? Lavendar oil is known to help with relaxation. And what about a hot bath, a steady walk in the park? There are numerous ways you can give yourself occasional moments to be kind to yourself. And if other people are making you feel anxious, stand up for yourself. If people are rushing you, demanding that you respond, you are entitled to say that you need time to think. Practice that for a while: I need time to think about that. I will come back to you. Do you need more information? Were things unclear? You are entitled to ask for clarification.

It is also useful to appraise the situation in terms of what you can and cannot change. If you have no influence over a certain aspect, try and let it go. Focus on what you can change. And if you have things which you need to change, and you can change, prioritise, write things down, keep a diary and reflect on how things are going - what has and has not worked.

Try to take time to relax and enjoy the weekend. And if you need to act, only do so after moments of reflection. Give yourself time to plan and think whether you really want to make that step.