The economy is in decline; your house is worth less than you paid for it, you may be losing your job, that pile of bills just seems to be getting higher – and your anxiety and stress levels seem to be rising as fast as the stock markets fall. While your economic situation may not be as dire as this scenario, odds are that your financial situation is worse now than it was a year ago. With failing banks and massive layoffs leading the news daily, it can be difficult to escape the sense of impending doom.

It is perfectly normal to feel anxious or stressed out during times like these. In fact, it would be unusual to be unconcerned when events beyond your control are impacting your family’s financial future. According to the American Psychological Association, two-thirds of adults admit that the economy contributes significantly to their stress. But if you find that you are consumed by worry about your finances to the exclusion of anything else, or you are having difficulty sleeping due to your worry, you may be experiencing anxiety, also known as Generalized Anxiety Disorder (GAD).

People with GAD tend to have fears about terrible things happening to themselves or their loved ones even though they realize their fears are irrational. The American Psychiatric Association defines GAD in part as the presence of persistent, excessive, and unrealistic worries about issues such as money, health, family, or work that last six months or longer. GAD can be accompanied by physical symptoms including fatigue, restlessness, difficulty sleeping, irritability, and others.

Whether your worries about the economy have risen to the level where they are interfering with your everyday life, or you just need some relief from the stress caused by uncertain economic times, the following tips provided by the Anxiety Disorders Association of America can help:

• Take a break from bad news. It is hard to turn on the TV without hearing some negative news about the economy. Take a break from all the bad news by turning off the TV, avoiding the radio, and staying away from internet news sites for awhile. Some people can feel their anxiety and stress level rising when they are exposed to bad news; if this sounds familiar, try taking a walk or listening to some music to get your mind off of the situation.
  
  
• Make a plan. Come up with a plan of action for how to adapt to the changing financial conditions. This could include measures such as postponing a planned vacation or home renovation, increasing revenue by taking extra hours at work or renting out a room in your house, or even delaying action for now but setting up contingency plans for what to do in case things get worse. Even if you have to make changes to the plan later, simply having a plan can make you feel more secure.
  
  
• Concentrate on things you can control. There are a lot of things happening in the economy that are completely beyond your control, and focusing on these things can make you feel powerless. Instead, try to focus on the things that you can do something about. If you’re worried about your expenditures, try prioritizing your expenses and cut costs by eliminating expenses that are not absolutely necessary. Make sure to continue paying off and debts you may have because ignoring debt only worsens your financial situation.
  
  
• Think conservatively. Don’t rush to make major changes to your investment strategy just because you feel like you should be doing "something." Make appropriate adjustments, such as: if you are nearing retirement or are worried about your job or financial security, talk to your financial advisor about diversifying your portfolio to include more low-risk investments that will minimize the impact of a struggling market economy. Continue to think in the long term. If you take your money out of the market, you’ll miss the gains when it goes back up, which analysts agree it will eventually do.
  
  
• Keep things in perspective. It’s only money. That may seem like cold comfort to someone who is losing their house, but try to remember that things like your health and your friends and family are truly the most important things in life.
  
  
• Stay healthy. Eating healthy, getting enough sleep and adequate exercise are critical to dealing with stress and anxiety. In addition allowing yourself enough personal time can help clear your mind of negative thoughts and do wonders for stress management.
  
  
• Talk to someone. Talking to someone can help you understand your fears and may even help you get over some of them. This could mean talking to a professional financial advisor about your situation or simply talking to a friend or family member. If you feel like your fears are interfering with your life, you may want to talk to a therapist.

For more information on how to successfully manage stress, see the Healia Health Guide on Stress Management or join the Healia Health Community for Stress Management. For more information on Generalized Anxiety Disorder, read the Healia Health Guide on Anxiety or ask a question to the people in the Healia Health Community for Anxiety.

Related blog post: Risk of Mental Health Problems Jumps as the Economic Crisis Grows and the Stock Markets Dive.  

_{Source: Anxiety Disorders Network of America, Spotlight: How to Survive Tough Economic Times and Manage Your Anxiety. http://www.adaa.org/gettinghelp/MFarchives/EconomicTimes.asp}

_{Photo: qnr, Flickr, Creative Commons}