From Panic to Power: Overcoming financial stress in turbulent times

Did you have the collapse of Silicon Valley Bank on your bingo card?

I didn’t.?

A lot of people read the news and became worried about the future. So the resulting panic is pretty predictable.

Thankfully, we have ways to be powerful under pressure, rather than panicked.?

When I heard about how rapid interest rate changes affected them, I realized their clients’ businesses might feel distressed as they scramble to make payroll or pay suppliers. I imagined jittery employees sweating out having enough money to pay rent, perhaps pleading with their landlords for a grace period.?

A lot of people are understandably anxious.

We live in a volatile, turbulent world, where the unexpected can happen in an instant.?

The Powerful Under Pressure process I teach has wisdom to support you to stay strong in volatile times, so I hope you’ll try this if you’re feeling the impact of this financial event. Or really any time you feel stressed:?

Step 1: NOTICE you feel pressured. Maybe you feel your gurgling stomach or tight chest, or recognize in some way that you feel pressured instead of placid. It’s valuable to tell yourself the truth of your state, rather than trying to make it go away. Saying to yourself “I feel pressured,” ironically can actually help alleviate some?pressure.?

Step 2: PAUSE. Resist the immediate impulse to take action or solve the situation. Because under pressure, emotions trump logic, and your decision making is diminished. Use the pause time — even a minute — to soothe yourself. One super simple way to do this is to breathe slowly and deeply for a few minutes.

Step 3: FEEL. Intentionally feel your emotions and sensations. When you’re pressured or panicked, you probably won’t like how that feels. But when you are fully present to what you’re experiencing, your realize your resilience. So it’s wise to name the emotions you’re feeling. Daniel Siegel, author of MindSight, says when you name your emotions, you can tame them. You might say to yourself something simple, without explanation, like, “I’m anxious and angry.” And non-judgmentally name the sensations you feel in your body. Focusing on sensations is an antidote to rumination, so your repetitive thoughts subside. “I feel a lump in my throat. My stomach feels achy. My palms are sweaty.”?

Step 4: THINK. When we’re pressured, our thinking can get warped, and the human tendency to see danger means we’re likely to catastrophize. To counter that tendency, I suggest you write down all your thoughts, like “what if I go broke,” or “what if we can’t pay our employees.” Get the thoughts on paper. Just that can be calming. Then, intentionally respond to each thought with something positive, like “I can reinvent myself, and I can ask for help,” or “we’ll see where we can borrow money to make payroll.” I realize it’s not always easy to address your worries, but you’re more likely to come up with good ideas when your emotions and sensations are more relaxed.?

I hope you'll try out these steps the next time you feel under pressure.

My heart goes out to everyone impacted by what’s happening with Silicon Valley Bank and the ripple impact. I want to remind you that regardless of how intense things get, you have the power within you to be powerful under pressure.?

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