rewrite this title 6 Ways to Reduce Financial Stress During Uncertain Times – NerdWallet

When the economy feels uncertain, it’s easy to let that sense of unease slip into your personal finances.

But there are strategies that can help you maintain a sense of control over your own money — even when the financial news headlines are unsettling.

Here are six techniques to consider:

If you notice yourself feeling tension around money, Denver-based financial therapist Wendy Wright suggests first considering what is stirring up those feelings.

“Is it connected to fears, sadness, feeling pressed to look at something you’re trying to avoid?” asks Wright.

Sometimes, she says, people avoid thinking about their personal finances until something in the news forces them to confront the topic, which feels uncomfortable.

If clients tell her that the news is a big source of stress, Wright reminds them that news is a form of entertainment and often designed to hook people into watching more “whether or not it has any bearing on their life.”

In some cases, she says, it’s best to just limit your intake.

A sensory activity can help you connect with the present moment instead of focusing on what can go wrong in the future, says Nathan Astle, a certified financial therapist and founder of the Financial Therapy Clinical Institute in Kansas City.

He suggests this one: Name five things you see, four colors you see, three things you hear, two things you can smell or taste and one thing you can touch. Next, touch that item and describe it. Then, reflect on how the exercise made you feel — hopefully calmer than you did before.

Deep breathing and scanning your body for different sensations can have similar soothing effects, he adds.

A closer look at your own finances can also help you regain a sense of control, Wright says. She suggests starting with a handful of the most important numbers in your financial life, such as your income, expenses and savings.

From there, she suggests building a financial plan that includes goals and room for adjustments when circumstances change. For example, you might make a plan to turn to short-term savings while job hunting if you were to lose your job.

“If your plan is in place, then you know what adjustments to make and you can breathe through it,” she says.

“My intention might be, ‘I don’t want to run out of money,’” she says. The related action might be, ‘Let me get to know my numbers.’

“It helps give you clarity on what your next steps will be,” Wright says.

As you work through these steps, it’s important to approach the process with zero judgement.

“Money stuff is typically not solved in an afternoon, so having compassion around that is super important,” Wright says

It’s generally best to wait until you feel calm before making any big financial decisions, Astle says.

“Give yourself time between the emotional stimulus and the actual decision-making,” he says, whether it’s deciding to rebalance your retirement accounts or order a new product online.

“Most financial decisions are emotional, so we want to make them in a somewhat calm or calmer state,” he adds.

Paying down debt, saving for an emergency fund and having insurance policies can help protect you and your family during times of economic uncertainty, says Nicole B. Simpson, certified financial planner and founder of Harvest Wealth Financial in Piscataway, N.J.

Simpson suggests considering starting your own business or taking on a side gig if you find you need to increase your income.

When it comes to wealth accumulation, a slow and steady pace can help you get closer to your goals, as well as weather any financial storms that come your way.