Does anyone get anxiety from spending money (even on necessities) due to low pay, increased cost of living?
I have been dealing with this kind of anxiety about 4 years ago. Not sure/can’t remember what triggered it.
I avoid gatherings with my friends so in the end I have no friends.
Today I went out for lunch with my co-workers. Most of the food were >$4.50. Not sure about caifan because they didn’t indicate the price. But I had anxiety spending the $4.50. I got anxious.
My ‘fight or flight’ response was triggered. I was on the ‘flight’; I thought of telling my co-workers I have some last minute issues and escape so that I don’t need to buy lunch.
After standing rooted to the ground contemplating for a few minutes, I still forced myself to buy a meal to mingle with the team. Because it’s damn embarrassing.
Am I the only one having extreme anxiety and fear about finances with the increased cost of living? What can I do? I know the obvious answer is to earn my money but I can’t change job.
Netizens’ comments
Stressing over a $4.50 cai fan is extreme. Imo you should first understand the current state of your finances and whether anot worrying is warranted. This would involve actively tracking all sources of income and expenditure. You should also ensure you have safety nets present for yourself and dependents i.e., emergency funds, insurance etc.
Once you have the boring stuff out of the way you should then evaluate and consider the kind of life you want to lead. This will be very helpful in ensuring you can set realistic budget expectations. When deciding to spend money, if its within your budget spend without worry, else dont purchase it. Note that your emergency fund should be 6-12 months of ur monthly expenses / budget. Once this is done you can look towards investing.
Also If your salary cannot meet the lifestyle you want, then you have to either increase your salary (duh) or lower your expectations.
Comparison is the theif of joy, just because somebody has nice fancy cars, homes doesnt mean you need to have them too. I have a friend who makes 5 figures, stays in condo, drives a lexus but still constantly wishes he had more money so he can afford a bigger home / nicer car like his colleagues. If only i were in his shoes..
Ultimately, i believe that once you take action and gain control over your finances you probably would be less stress / anxious.
Tldr:
- Track your monthly expenses
- Set a realistic budget
- When spending money, if within budget spend freely, else dont spend.
- Save your excess salary and invest the rest once you have 6-12 months of ur monthly expenses saved up.