Thursday, October 23, 2008

Coping with Anxiety and Panic during Uncertain Economic Times

Are you feeling anxiety, fear, or panic during these economic times? You are not alone. This particular financial episode is a major historical event. It is normal and natural that you feel some anxiety over it. It is actually a sign of health that you are not simply ignoring it or pretending it is not happening.

Are your anxiety and fear so strong, however, that you aren't functioning so well? Do you lie awake worrying about your dwindling investments, or the security of your job or business? Do you worry that your anxiety or lack of sleep are affecting the quality of your work? Or do you worry that it won't matter anyway, because nothing can be done to safeguard your livelihood?

What follows are a few tips to help you cope better with the anxiety. To help you get a perspective that may help you get through this without falling apart.

1. Consider changing your interpretation and reaction. Do you think, "My work and my money will run out before this is over, and I will end up on skid row"? How do you feel when you think this way? Does it help energize you, or deplete your creativity for finding a solution to the problem? Try this out and see how you feel: "I have been through worse things in life. I will certainly survive this one." Or, "I have lived through a few recessions, and have never ended up homeless. This is certainly something I can handle."

2. Consider limiting your exposure to the media. This is not to suggest you should bury your head in the sand. It is to say that we often become news junkies, and let our moods soar up or down depending on the latest report. The economy goes down for a long streak, seems to pick up for a day, then plummets again. Keep in mind that exciting and catastrophic news is what sells, and therefore the news is coming to us in pretty dramatic language. The excitement and drama are strongest on television.

3. Don't start or end your day with the latest news report. This will intefere with your getting a good night's rest, or on starting the day with a more positive outlook.

4. Take good care of your health. This is no time to slack off in the area of nutrition or moderate exercise. Taking care of your health also includes having some kind of stress management routine. If you do not know any basic relaxation skills, see some of my other posts on this blog, or visit my website http://www.2bstressfree.com to read my article on Three Simple Ways to Relax.

5. Avoid any rash decisions. It can be tempting to start moving your resources around in a panic mode. If your decision are based on the latest news report of a given day, it will not likely be coming from a calm place. Step back and get a perspective before making any major changes.

6. Get professional help if needed. If you are considering seeking counseling to help deal with the anxiety, don't let the fear of spending stop you. If your anxiety is affecting your ability to make decisions or take actions, ask yourself if getting help would be a luxury or a necessity.

7. Cultivate an optimistic attitude. Which attitude, optimistic or fatalistic, will most likely energize you and calm your fears? Which attitude will most impress customers, clients, or your boss? Which attitude will help you get through these uncertain times with the most going for you?

8. Look for the opportunity in this crisis. Within every crisis or adversity is the opportunity for something better to come about. Often when we are in crisis mode, we just haven't yet recognized the opportunity. Keep an open mind and keep this idea in mind as you go about your day.

I hope these tips have been helpful to you. It is my wish that you will be inspired in some small way to rise above the panic and anxiety so prevalent these days, and come through this challenge with something good for yourself.

Kate Boswell MFT is a therapist in private practice in Marina del Rey, Ca. She helps people to overcome anxiety and fear, and take steps toward the kind of life they want. She can be reached at (310) 658-3158 or http://www.2bstressfree.com