Breaking Free from the Grip of Financial Anxiety: Coping Skills and Exercises to Help You Thrive.

Younger generations in America are facing significant economic pressures, including rising inflation, wage stagnation, unaffordable housing, high levels of debt, and the impact of these pressures on their mental health. Adding to these challenges are the recent massive layoffs around the country, leaving many young people struggling to make ends meet.

As a result of the difficult economic climate, many millennials and Generation Z are moving back home with their parents to offset the high costs of living. This can be a difficult adjustment, as individuals often have to give up their independence and adapt to living with their parents once again. It can also be a source of stress and anxiety, as individuals feel like they are not progressing in their lives.

In response to these challenges, companies like Gentle Mind are offering free mental health resources and support to help individuals manage their anxiety and stress. Their resources include counseling services, support groups, and online resources, which are designed to be accessible and convenient.

Gentle Mind recognizes the impact that economic pressures can have on mental health, and is committed to helping individuals cope with the challenges of modern life. By offering free resources and support, they are helping to create a more stable and equitable society for all.

Overall, the economic pressures facing younger generations in America, including rising inflation, wage stagnation, unaffordable housing, high levels of debt, massive layoffs, and the trend of moving back home with parents, can be a significant source of stress and anxiety. It is important that individuals have access to the resources and support they need to manage these challenges and maintain their mental health. Companies like Gentle Mind are making a positive difference by offering free mental health resources and support to those who need it most.

Here are some coping skills and exercises that individuals facing financial anxieties can do to find relief.

1. Mindfulness meditation: Practice mindfulness meditation by focusing on the present moment and letting go of any worries about the future or past.

Find a quiet and comfortable space where you can sit and relax. Close your eyes and take a few deep breaths. Focus your attention on your breath, and try to let go of any thoughts or worries that come to your mind. If you find yourself getting distracted, gently bring your attention back to your breath. e. Continue to focus on your breath for 5-10 minutes, or as long as you feel comfortable.

2. Breathing exercises: Use deep breathing techniques to reduce stress and anxiety. Take deep breaths, hold for a few seconds, and then exhale slowly.

Sit or lie down in a comfortable position. Take a deep breath through your nose and hold it for 5 seconds. Slowly exhale through your mouth. Repeat the process 5-10 times, or until you feel relaxed.

3. Create a budget: Create a budget to manage your finances and reduce stress about money. Knowing what you have and where it's going can help you feel more in control.

Make a list of all your monthly expenses, including rent/mortgage, utilities, groceries, transportation, and entertainment. Calculate your monthly income from all sources. Subtract your monthly expenses from your monthly income to determine your disposable income. Create a budget based on your disposable income, and allocate funds for savings and debt repayment.

4. Practice gratitude: Focus on what you have rather than what you lack. Write down a list of things you're grateful for each day.

Take a few minutes each day to write down three things you're grateful for. Reflect on these things and try to cultivate a sense of appreciation and contentment.

5. Engage in physical activity: Exercise helps to reduce stress and anxiety. Find an activity you enjoy and make it a part of your daily routine.

Choose an activity that you enjoy, such as walking, running, or yoga. Schedule time for this activity each day or week, and make it a priority in your routine.

6. Seek support: Talk to friends, family, or a professional counselor for emotional support and guidance.

Talk to friends, family, or a professional counselor about your financial anxieties. Ask for emotional support and guidance as you navigate your financial situation.

7. Learn a new skill: Invest in yourself by learning a new skill or taking a course. This can help you feel more empowered and confident about your future.

Identify a skill that you'd like to learn, such as coding, cooking, or a new language. Sign up for a course or tutorial, or find online resources to help you learn.

8. Take breaks: It's important to take breaks and prioritize self-care. Take a walk, read a book, or do something else you enjoy to help alleviate stress.

Schedule regular breaks throughout your day or week to prioritize self-care. b. Use this time to do something you enjoy, such as reading, taking a walk, or practicing mindfulness.

9. Practice self-compassion: Be kind to yourself and don't beat yourself up over financial setbacks. Practice self-compassion and remind yourself that you're doing the best you can.

Acknowledge that financial difficulties are a common experience. Practice self-compassion and remind yourself that you're doing the best you can.

10. Stay positive: Focus on positive affirmations and visualize success. Believe in yourself and your ability to overcome financial challenges.

Focus on positive affirmations, such as "I am capable of overcoming financial challenges." Visualize success and believe in your ability to manage your finances and achieve your goals.

Here are some free financial resources that someone could use to get help:

1. The National Foundation for Credit Counseling (NFCC) - Provides free credit counseling, debt management plans, and financial education resources.

2. Financial Literacy and Education Commission - Offers free financial education resources on topics such as budgeting, credit management, and retirement planning.

3. Mint - A free personal finance app that allows you to track your spending, create a budget, and manage your investments.

4. Credit Karma - Provides free credit scores, credit monitoring, and personalized recommendations for improving your credit.

5. AnnualCreditReport.com - Allows you to access your credit reports from the three major credit bureaus for free once per year.

6. Your local library - Offers free access to financial books, magazines, and online resources such as financial planning tools and investment information.

7. HUD-approved housing counseling agencies - Provides free counseling services and resources to help with housing-related issues such as foreclosure prevention, homebuying, and renting.

8. The IRS - Offers free tax preparation assistance and resources through their Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs.

9. The Consumer Financial Protection Bureau (CFPB) - Provides free resources and tools to help consumers make informed financial decisions, including a complaint system for financial product and service issues.

10. Your bank or credit union - Offers free financial education resources, budgeting tools, and financial counseling services to their customers.

Remember, there are many free financial resources available to help you improve your financial situation and reduce your anxiety. Take advantage of these resources and seek out help when you need it.