COVID-19 Coping with Financial Stress

Coronavirus and Stress: How to Cope with the Financial Anxiety

COVID-19 has thrown us into unfamiliar territory. Almost every aspect of normal life has been disrupted: we’ve been told to practice social distancing; workplaces and schools have closed their doors; the news is flooded with information that can be downright terrifying.

A cell phone shows the downward trend of a stock

Watching the stock market during the COVID-19 pandemic can make your stress skyrocket

The coronavirus pandemic is stress-inducing not only because of the impact it’s having on the health of people around the world, but also because it is rocking our financial stability. The stock market has crashed to its lowest levels since 1987. And all of those closed businesses? Well, that means there are a lot of people who aren’t able to earn a paycheck.

If you’re feeling the financial stress brought on by COVID-19, you’re not alone. In fact, Americans report being more concerned about their finances than their health in the midst of the pandemic. But there are ways you can weather the storm and maximize your financial and mental wellbeing.

Who is Being Affected?

President Trump issued guidelines on March 16 that called for Americans to avoid eating at restaurants and gathering at bars, gathering in groups of more than 10 people, and to attend work and school remotely whenever possible.

The owners of those restaurants and bars rely on their patrons for their livelihood. Food service operations often run on extremely tight budgets, and even a small hit can send a small business owner into the red. And for workers whose jobs cannot be done remotely – construction workers, waitstaff at restaurants, employees at retail stores — these layoffs have an enormous and immediate impact. “In states that have shut down dining areas of restaurants and bars – including California, Illinois, New York, Pennsylvania, Michigan and Ohio – the leisure and hospitality sector employs about 7.4 million workers whose jobs could be impacted,” according to Challenger, Gray and Christmas. “Employees in the travel sector, including airlines, lodging and logistics, are particularly at risk.”

A waiter carries a tray of drink

With large social gatherings prohibited, the restaurant industry is taking a big hit

And what about the stock market? Even for people who don’t invest, the news about the downturn strikes an ominous note. But those who are close to retirement or who have invested large amounts of their earnings are reeling especially hard. Unemployment is likely to soar in the next weeks and months; layoffs have begun and will escalate.

Additionally, the day-to-day challenges can be enormous for people who live paycheck to paycheck. While some people can stock up on several weeks’ worth of groceries without blinking an eye, others simply do not have the cash flow to buy more than usual. It’s a high-stakes environment in which people are being forced to make incredibly difficult decisions about limited resources.

How to Cope in a Time of Fear

It is normal to feel stressed, afraid, and anxious right now. But you don’t need to let those feelings take over your life. There are still things you can do to take control, including:

Accepting the current state of affairs; recognizing you cannot control things

• Identifying your emotional triggers – and not allowing them to take over
• Making mental health a top priority
• Avoiding unnecessary financial risks
• Seeking support from your community

When it comes to prioritizing mental health, there are resources available to you even in a time of social distancing. The National Alliance on Mental Illness (NAMI) offers valuable information on their website, and many therapists and counsellors are offering telemedicine.

A man uses Alpha-Stim at work

Alpha-Stim is compact and discrete – you can easily use it at home or work (which are likely the same place right now!)

Another option for maximizing your mental wellbeing is Alpha-Stim®. Alpha-Stim is an FDA cleared medical device clinically proven to safely and effectively treat depression, anxiety, and stress-related disorders. Alpha-Stim is not a drug – it is a cranial electrotherapy stimulation (CES) device, delivering a tiny current of electricity to your brain through two electrodes that clip onto your earlobes. The painless, patented waveform of electricity restores balance to your brainwaves, making you feel better fast.

Unlike with medications, Alpha-Stim bears no risk of addiction, withdrawal, or lasting side effects. It is safe to use in conjunction with other treatment modalities, and safe for use by everyone from young children to the elderly.

There is no risk of overuse with Alpha-Stim; you can conduct a treatment whenever you feel your stress or anxiety escalating. Relief is long lasting and often immediate. Better still, results with Alpha-Stim are cumulative over time: the more frequently you use it, the less you’ll need to.

The bottom line is that we are living through something very scary. It’s normal to be experiencing mental and emotional distress – but you don’t have to accept stress and anxiety as your new normal. Get started today (we’re here for you – our offices are still open) and see what Alpha-Stim can do for you. And since we understand that finances may be a concern, if you’re not impressed with how much better you feel in 30 days, you can return it.

About Alpha-Stim

Alpha-Stim® is an FDA cleared, handheld medical device that has been proven time and again to effectively treat acute, post traumatic, and chronic pain, as well as anxiety, insomnia, and depression. Alpha-Stim uses cranial electrotherapy stimulation (CES), delivered through a patented waveform via two earclip electrodes, to treat anxiety, insomnia, and depression. Microcurrent electrical therapy (MET) delivers pain relief directly to the source of discomfort via two handheld Smart Probes.

The safety and effectiveness of Alpha-Stim is backed by over 100 independent clinical research studies. Unlike with medications, there is no risk of addiction or lasting side effects.

The safety and effectiveness of Alpha-Stim is backed by over 100 independent clinical research studies. Unlike with medications, there is no risk of addiction or lasting side effects.

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