More People Than Ever Are Looking Into Financial Therapy

With everything starting to cost more and inflation being felt everywhere, it makes sense that more people are worried about their finances and how they will afford to maintain their standard of living. According to the APA, 65% of Americans claim money is a significant source of stress as financial anxieties remain ever prevalent. 

We can see that over the last year, the topic of inflation has gradually been trending upwards as more people search for it.  

Questions around managing money and coping with the stress of it have become more frequently asked this year vs. last year, with ‘how to manage money’ increasing 26% year-over-year while ‘how to not stress about money’ increased 56%. 

Searches for ‘financial therapy’ have increased 60% year-over-year, and 23% in the last 3 months alone, as the double whammy of the cost of living crisis and rising inflation become more of a concern for people. ‘Financial therapy’ now gets on average 1,300 searches per month by Americans while ‘financial wellness’ gets around 3,600 searches per month, which has increased 22% since 2021, according to Google keyword search data.

It’s no wonder then, as a result, that people seeking financial wellness through therapy has become more popular. Stackin has seen its app subscriptions increase by 30% in the last month, sign-ups increase 49%, and organic traffic go up 20%, as many are taking the necessary steps to help themselves with their finances — and their mental health. 

We’ve pulled together some advice from Dr. Megan Ford, Stackin’ financial therapist, to help you manage your financial wellbeing and mental health during uncertain times.

Move it, move it

If you’re currently out of work and find yourself with more free time, take time to exercise outside if possible and get your bare feet on the ground. We all know exercise releases endorphins, but being in nature while doing it can help to relieve a lot of stress.

Face your fears

Bottling up your anxiety can make it worse. Get out everything you’re stressing about onto paper and focus on one thing at a time. It helps to also talk about it with a friend, a therapist, or even a Facebook group. 

Create a routine

Get out of bed at the same time each day and create a plan for the day, sticking to breakfast, lunch and dinner. Keeping a routine will help you feel productive and ensures you’re sticking to habits that make you feel good. 

But also try something new

Your routine will keep you grounded, but it also helps to try something you’ve never tried before. Whether it’s trying a breathworks class or even going a different route home, a new process will help keep the brain mentally active and even help it to release dopamine.

Make a mocktail

If you’re struggling with financial stress and worries, alcohol can often magnify these emotions and will also cause your body more stress. Stay hydrated with water and non-alcoholic liquids which will help you think clearer.