Published by Kerry Meath-Sinkin
Do you feel awesome when you think about money? Or do you get a pit in your stomach when you think about it? A pit that you want to perpetually push away? Or a feeling that makes you want to run in the corner and cry every time you have to pay the bills. Or maybe you are out to eat with friends, and you begin getting anxious before the bill arrives? Or maybe you keep avoiding any money topics with your partner. If you are feeling any of these, you are not alone. But you also don’t have to keep living that way.
In 2008 a term was coined called, “money anxiety disorder.” This disorder is characterized by a pervasive fear about money that triggers the fight or flight response. Not surprisingly, women suffer from this more than men. As a financial planner, Ayurvedic practitioner, and faculty member of Sundara Yoga Therapy (an international yoga therapy program designed to teach yogis and mental health professionals’ tools to address anxiety and trauma), this is a topic that I am very passionate about.
Whether your anxiety is mild or severe, there are tools and practices that can help. So where can you get started? While what works for you in addressing mild to more intense money anxiety imbalances is different than Janet’s down the street, there are some practices that may be worth exploring.
On the practical level you have to build a solid plan with your finances. This is something you can develop for yourself, or something you can ask a financial planner or financial coach to help you with. A rock-solid plan involves many different components but may address your debt, it may include certain types of insurance, it may include retirement planning, it may include building an emergency fund or planning for the purchase of a home, or beginning to start a college plan for your kids. It all depends on meeting YOU, where you are and helping to get the right roadmap in place.
On the emotional level it is important to incorporate tools or practices that are going to support the emotional and physical body in regaining balance. That could include mindfulness practices, meditation, breathwork, or building your rock-solid support system. The key piece of whatever you incorporate is that it feels nourishing and brings you into the “rest and relax response”. A state that allows you to feel more secure and safe in yourself.
If you are just beginning to unpack your relationship with money, check out my blog here to get started.
If you are experiencing anxiety around money, what is one step you can take for yourself right now to start shifting your reality? It could be a practical step, such as finding a coach, planner, or book that you can connect with to get your planning on track. Or it could be choosing one personal practice that you can incorporate, such as 5 minutes of meditation, a daily gratitude practice, deep breathing, or yoga nidra. Whatever it is, I encourage you to stick with it for at least 40 days and reflect on any changes that you may have noticed.
As always, thank you so much for reading! If you like this, I would so greatly appreciate if you could send it to others who may be interested.
Kerry Meath-Sinkin is a registered investment advisor and financial planner based in Minneapolis. She graduated with honors from Brown, and works with clients not only in the Twin Cities, but nationwide. Kerry believes in a holistic approach to finance. She works with her clients to develop a practical plan with their finances, while also working on their inner relationship with money. Together, these aspects allow clients to feel healthy, abundant, and free. Kerry also has a passion for healthy living, is a certified Ayurvedic practitioner, and public health educator. Click here to learn more about Kerry.