The global pandemic has created a lot of turmoil about confronting the fears that surround money. Worldwide, many people are facing increased stress about money and are hunting for a solution.
We’d love to share the story of Dale Mackey and how the pandemic has impacted her feelings around money.
Global restrictions spelt bad news for Mackey’s event space business (which she dutifully closed as soon as the virus began to spread through her community). Restrictions also meant that work dried up for her husband Shawn Poynter, a photographer. Fortunately, they had very little debt outside their mortgage, some savings and a side business to bring in some cash. They were in a good position.
Things started out well.
They were both content on ‘hunkering down’ and riding out the period of social restrictions. But, as the weeks wore on, a common natural tendency began to emerge – financial anxiety.
There is currently lots of talk around ‘COVID exhaustion’. The uncertainty about when things will return to normal begins to weigh on us all. If there is a definite timeframe for when this will all end, then it becomes easier to cope with. Unfortunately, all we have right now is uncertainty.
That is where a Money Mentalist can help. With post-grad qualifications in Psychology and as a member of the Financial Therapist Association, Lynda is well placed to provide practical support and advice for the increased stress you may be feeling about money.
Dale Mackey found financial therapist, Amanda Clayman, to help her form a plan to combat the feelings of anxiety that were developing about her financial situation.
Clayman says, “This pandemic is like a black light, it’s suddenly revealing all the things that were present before, but unseen.”
She is 100% correct. There are psychological struggles people face around money every day and our consumer spending habits reflect that. As a global financial crisis looms, these struggles are being highlighted more than ever.
Many people are going to emerge from the COVID financial fallout emotionally scarred.
In fact, the fallout has even been likened to a ‘psychological earthquake’ or the stress that military veterans with PTSD experience.
As a Financial Therapist, Clayman helped Mackey to think more deeply about her financial values. It can be so easy to fall into the pattern of catastrophic thinking. The kind of thoughts that make you feel like everything is on your shoulders and that it is pointless to strive for something that could potentially be taken away in a heartbeat.
Instead of letting negative thought patterns take over, find a Financial Therapist (or a Money Mentalist) to help you process these thoughts and develop healthy ones. Allow yourself to feel some anger, but then address the underlying feelings about money that anger often marks.
Money Mentalist is a member of the Financial Therapist Association so can help you to identify those feelings and give you financial and mental strategies to deal with them.
How we all deal with our feelings around money now will determine what our financial lives will look like going forward.
If you are ready to make a conscious decision regarding your financial situation, then we are ready to help you create the right mindset to support your money goals.
When you are ready to talk, we are here to listen and help. Drop us an email or click on this link to find a day and time that suits you to have a chat with us, we’re really very friendly. Best of all, it’s absolutely free!
This piece was adapted from an article written by Paul Sullivan, a Wealth Matters columnist. He is also the author of The Thin Green Line: The Money Secrets of the Super Wealthy, and Clutch: Why Some People Excel Under Pressure and Others Don’t.