What to do if you’re always anxious about your finances
Feeling anxious about money is more common than you might think. With bills, debts, and everyday costs rising, many people experience constant money anxiety that makes it hard to focus or sleep. While there’s no instant fix, there are practical coping mechanisms that can help you take back a sense of control, even in small ways.
In this guide, we’ll explore how to spot when financial worries are becoming overwhelming, gentle actions you can take today, and where to find support if you need it.
What does financial anxiety look like?
Financial anxiety can affect people differently, but some common signs include:
- Avoiding letters, bills, or bank statements
- Worrying about money daily, sometimes hourly
- Struggling to concentrate at work or home
- Feeling nervous before checking your bank balance.
If you recognise these feelings, you’re not alone. Studies show that money worries are one of the most common triggers of stress in the UK. The good news is that there are simple, manageable steps you can take to start coping.
Taking the first small step
When you’re dealing with constant money anxiety, the idea of tackling your finances all at once can feel impossible. Instead, focus on just one action:
- Open the most recent bill or bank statement, not the whole pile.
- Write down the key figures – the balance, the due date, the payment requested.
- Leave it there. You don’t have to act immediately; simply seeing the facts can ease the uncertainty.
By breaking things down into single, manageable steps, you start to replace the unknown with clear information.
Financial anxiety coping strategies you can try
There’s no one-size-fits-all answer, but these small actions can make ongoing anxiety easier to manage:
1. Create a simple budget
Instead of tracking every detail, start with just your essentials: rent or mortgage, food, and utilities. Knowing these basics are accounted for can help you feel steadier.
2. Prioritise your debts
Some payments are more urgent than others. For example, rent, council tax, and energy bills are classed as priority debts.
3. Set aside a ‘money moment’
Choose a time each week to look at your finances. Keep it short – even 10 minutes is enough. A set routine can stop money tasks from building up and feeling overwhelming.
4. Talk about it
Money worries can feel isolating, but you don’t need to carry them alone. A quick chat with a trusted friend or family member can help you feel supported.
5. Ask for help early
If you’re falling behind with payments or worried about debts, it’s better to act now. Creditors are often more flexible if you explain your situation before arrears grow.
When financial anxiety becomes harder to cope with
If you find that financial worries are affecting your sleep, work, or relationships, it may be time to get professional support.
At MoneyPlus, our advisers can help you explore debt solutions such as:
- Debt Management Plans (DMPs) – allowing you to pay one reduced monthly amount across multiple debts.
- Individual Voluntary Arrangements (IVAs) – a legally binding agreement to pay what you can afford over a set period, with some debt included in the IVA potentially written off at the end.
You can also find free, impartial advice at MoneyHelper.
Building healthier money habits
Once you’ve taken those first steps, you might want to put longer-term habits in place. A few ideas include:
- Automating payments so essentials are covered on payday
- Rounding up purchases into a savings pot if your bank offers the feature
- Reviewing your outgoings once every few months to spot unused subscriptions or services.
Even the smallest changes can add up over time, helping reduce the day-to-day worry that comes from feeling out of control.
Moving forward
If you’re anxious about money, remember that you don’t have to tackle everything in one go. Start small, take it step by step, and know that support is available if you need it. Whether it’s opening a single bill, setting aside some time each week, or speaking to an adviser about your debt options, each action moves you closer to feeling more in control.
If you’re ready to take your first step today, explore more about debt solutions with MoneyPlus. Our team will listen to your situation and guide you through the options available. Find a solution today.
