Your financial issues may not always be about money and budgeting isn’t always the fix. Here are ... More three holistic and mindful ways to ease your "financial anxiety."getty You’ve probably heard the saying, “money doesn’t buy happiness.” While that may hold some truth, the reality is more layered. Money may not buy inner peace or lasting fulfillment, but it does provide something just as crucial: a sense of security. It’s the difference between surviving and spiraling. For many, it’s more about covering rent on time, affording basic healthcare or simply living without the constant financial dread. In such cases, making money is less about happiness and more about finding relief or a bridge to stability. This is where “financial anxiety” can come in for many people. It can be chronic and all-consuming, often stemming from deep uncertainty about the future. The thought of long-term goals like home ownership, starting a family or even retiring one day can feel distant, if not impossible. According to a recent New York Post report, seven in ten Americans say their financial anxiety is at an all-time high. The survey, conducted by Talker Research for Doctor On Demand by Included Health, found that 76% of people feel alone in dealing with money-related stress, and more than a third say the cost of healthcare alone has negatively impacted their mental health. Younger generations are feeling it even more, with millennials and Gen Z disproportionately affected by rising costs and limited access to affordable support. ​​While you may not be able to change your financial circumstances overnight, there are meaningful inner shifts and small actions you can take to better navigate financial anxiety. Here are three ways to start easing the weight, not by denying the stress, but by slowly reclaiming your control. 1. Separate Your Self-Worth From Your Finances With hustle culture being glorified and capitalism rewarding constant output, it’s easy to start linking your value as a person to how productive or financially successful you are. Growing up you may have been taught, subtly or directly, that more money means having higher worth. So, anything less can easily make you feel like a failure. Over time, this can make financial setbacks feel deeply personal, and even shameful. What you may not realize is the way it can gradually impact different aspects of your life. A 2022 study published in Personality and Individual Differences examined how people who tie their self-worth to financial success, experiencing what researchers call “Financially Contingent Self-Worth” (FCSW), face unique emotional challenges. The study looked at 260 working parents in the U.S. and found that individuals with high FCSW were more likely to experience work-family conflict. This means they often felt torn between work and family responsibilities, feeling like they were failing in one when focusing on the other. The stress of trying to be “enough” on both fronts took a toll. They reported feeling more burned out, less present as parents and even less engaged in their work. But the impact didn’t stop there. These individuals also reported lower life satisfaction, less happiness and a diminished sense of meaning and purpose, even when researchers accounted for how much money they made, how stressed they were about money or how materialistic they were. This goes to highlight the fact that when people base their self-worth on how financially successful they are, it creates a ripple effect, disturbing not only their personal balance between work and home but also their overall well-being. It is, therefore, imperative that you learn how to separate your self-worth from your finances. Here’s how to start. Begin by recognizing when and how you equate your financial situation with your value as a person. This often shows up as harsh self-talk during financially difficult times, like feeling “less than” when you’re not earning enough or comparing yourself to others who seem more successful. The next step is to actively nurture sources of self-esteem that aren’t tied to money. These could include your values, how you treat others, creative expression, your skills, your effort or simply showing up for your loved ones. Make a habit of acknowledging these aspects of yourself, especially during moments when you’re tempted to measure your worth by financial metrics. It’s also helpful to engage in small practices that remind you of your inherent value, like writing down three non-financial things you’re proud of each week or reflecting on compliments that had nothing to do with your job or income. 2. Shift Your Perspective On Finances Financial strain is not just a numbers challenge but also an emotional one. The way you perceive financial stress can significantly impact your mental health, which could eventually even lead to higher levels of anxiety and depression. According to a 2017 study, financial strain itself isn’t inherently harmful. The deciding factor for the impact is how you interpret and react to this strain. It was found that when individuals experience financial strain but don’t perceive it as inescapable, their mental health remains unaffected. However, when stress responses are triggered by financial difficulties, depression scores tend to rise. This highlights the importance of addressing not just the financial reality of the situation, but also how you process and respond to these stressors. The study suggests that shifting your perspective on financial stress could play a significant role in mitigating its effects on mental health. It’s important to learn how to deal with the emotional impact of financial stress. One way to begin managing these emotions is by developing emotional awareness, which may sound redundant or even hard to achieve for many. But understanding your emotional responses is the first step in regaining control over them. A highly effective and accessible tool to reshape your emotional response is cognitive reframing. By challenging and altering negative thoughts about money, you can shift your perspective from one of fear or defeat to empowerment and optimism. For instance, instead of seeing financial difficulties as personal failures, try viewing them as opportunities to learn and grow. There are various tried-and-tested stress management techniques that are also helpful, such as deep breathing, maintaining a thought journal and indulging in yoga or light exercises. Find what soothes you and make time for that particular activity in the day. Most importantly, never underestimate the power of social support. Leaning on friends, family or a professional can provide both emotional relief and practical advice that can make a difference to how you manage financial stress. Ultimately, you’re not aiming at ignoring the stress or pretending it doesn’t exist. You’re simply changing how you respond to it. 3. Reclaim Control Through Small And Realistic Steps Financial anxiety often stems from feeling overwhelmed or powerless in the face of money challenges. One effective way to counter this is by focusing on what you can control and starting small. Taking even one actionable step, like tracking your daily expenses, setting up a savings jar or unsubscribing from marketing emails that tempt impulse spending can build a sense of agency. Research shows that goal-setting can significantly reduce financial anxiety, even in the short term. Researchers utilized a version of Solution-Focused Brief Therapy (SFBT) that applies its principles and techniques to financially related issues called Solution-Focused Financial Therapy (SFFT). They found that simply helping individuals set clear, realistic financial goals using this strengths-based approach led to reduced anxiety. You can even set a single, achievable financial goal, like saving a small and specific amount of money over the next month and creating a plan around it. The key lies in creating forward movement and focusing on possibilities instead of problems. Over time, these seemingly minor changes can help rebuild your sense of control over your finances and with it, your peace of mind. While financial anxiety can be daunting and deeply personal, it doesn’t have to be something you navigate alone or in silence. Remember that small mindset shifts and consistent actions may not solve everything overnight. However, they can open up space for clarity and calm amidst what may seem like chaos. Allow yourself to start where you are, even if it’s messy. Progress isn’t always linear and you’re not as stuck as you think. Are your financial decisions helping or hurting your peace of mind? Take this science-backed test to assess your money management habits: Financial Management Behavior Scale