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How to get rid of the fear of running out of money in difficult times and build the right financial protection

Date: March 27, 2023 Time: 07:15:47

Remember Scrooge McDuck from DuckTales? He amassed a lot of gold, but he was constantly worried that it would be stolen. Times are turbulent right now. And fear has big eyes. So the Russians fear for their hard-earned money. And the quantity is not important here. Someone is worried about the safety of millions, and for someone even 10 thousand rubles is a lot of money. Komsomolskaya Pravda decided to find out what kind of hiding worries the Russian soul and what to do in order not to worry about trifles.


– The first big fear is the fear of losing your job. It is key and essential. Fear of a decrease in quality of life follows. For example, if you don’t get fired, but your salary is reduced. The third is that one of your family members will lose their job and the family will lose their source of income. Then there is the fear of health. I suddenly get sick, and the treatment is very expensive. Or I will have such an injury that I will no longer be able to work and earn money, – says psychiatrist Alexander Fedorovich.


Photo: Dmitry POLUKHIN

People have always had those fears. But in the last year they have intensified. The economic situation is uncertain. What will happen next, no one knows. Our identity (the answer to the question “Who am I?”) is available to us in two ways: through “being” – what we are, and through “having” – what we have. That is, by family, social and professional condition, as well as by the assets that belong to us.

– Losing something valuable, a person loses part of his identity, and this cannot but cause anxiety, – explains psychotherapist Mikhail Sobolev.

Everyone has reason to fear for their money. It’s just that everyone perceives the risks in their own way.

A simple example.

Everyone knows the statistics on plane crashes. The probability of being on board an aircraft in distress is very small. But there are still many aerophobes. The same goes for economic fears, which are often irrational, even though they have a factual background. But the more a person thinks about a possible problem, the worse it gets.

“In the end, fears can provoke a psychosomatic disorder that masquerades as classic diseases: hypertension, stomach or intestinal ulcers, arthritis, thyroid disease, bronchial asthma, allergies,” lists Alexander Fedorovich.

In the past year, fears have intensified.

Photo: Ekaterina MARTINOVICH


But anxiety and fear of money can be a healthy response to circumstances.

– When a person realizes that their income is decreasing, it is normal to experience this type of emotion. In this case, there are three things to do. First, do not go into catastrophizing, do not convince yourself that the most terrible scenarios for the development of events will definitely happen. Second, he looks for the supports that remain in life. Family members or your own experience of dealing with difficult circumstances can be supportive. Third, come up with plans for what to do in the new reality, lists Anna Martynova, a gestalt therapist.

It is very important to find out what exactly can happen and how to reduce the financial risks for yourself. Generally speaking, what kind of straw and where it is better to put it.

I don’t think it’s necessary to discuss your anxieties with your friends. With this we infect others with fears and multiply them for ourselves. It is better to withdraw, choose a moment, find a quiet place, sit for half an hour and dream. What will happen to me in the worst situation? You need to live the scary situation in your thoughts and think of ways to resolve it. If we look fear in the eye, it begins to run away from us, recommends psychologist Yegor Yegorov, author of popular podcasts and the book Tea with a psychologist: how to overcome anxiety, fears and panic.

Helpful tips KP.

Photo: Dmitry POLUKHIN


I will tell you a secret. I am also afraid that at some point I will run out of money. And I understand that all this is from a poor childhood. I have always dealt with this fear in the same way. Earn money. Let’s think calmly. What does it take to run out of money?

First, a demanded profession and good grades. You do your job for five, the risks of being fired are significantly reduced. Hence the conclusion: improve your skills and do quality work. The result is less worry about your future.

Second, the financial airbag. Sometimes the situation in the economy is such that anyone can be fired. So in this case too it is worth making sure. We create capital for a rainy day, which will allow you to live peacefully for at least a few months after losing your job. We become even calmer.

Third, don’t keep all your eggs in one basket. Your funds must be distributed. Let part of the funds be on ruble deposits, part – in dollars, euros, apartments, in general, various assets. It is impossible to understand which asset will grow and which will depreciate. Especially in the current conditions. Therefore, in order not to be afraid that your stash will suddenly depreciate, it is better to keep money in different financial instruments. Then you will be almost 100% calm.

And fourth, insurance. This is the final element of financial protection. Our wealth consists not only of money in accounts, but also of property. Therefore, it is advisable to insure an apartment, a car and other important things for you. It does not prevent you from protecting your own health. After all, your performance depends on it.

Such a set of financial habits and tools will reduce the risks of unpleasant force majeure to almost zero. This means you won’t have to worry.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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