Three Proven Strategies to Stay Positive When Money Woes Have You Down:

Do financial concerns have you stressed out? You’re not alone! From a recent Forbes article:  "Nearly half of millennials (46%) stated they have struggled with large amounts of debt, while 43% have concerns about paying health care expenses. A little over two in five millennials stated they relied on family, friends or a partner for regular financial support. Millennials are aware of their financial burdens and experience anxiety surrounding money concerns." #MillennialPay is a trending storyline this week. Money is on the minds of millennials.

I didn't address financial concerns, specifically, in my newly released Being Positive at Work class, but with stats like this I wish I had. An unexpected medical bill or car repair hits you this month and savings can’t begin to cover it (Or, ha! What savings?) Now you find yourself obsessing over how all the bills will get paid, what you can trim from the already-tight budget to make ends meet, or even losing sleep as dread haunts you.

Three strategies will help you combat the money-blues:

1.     Play Best/Worst/Most Likely. That unexpected bill or financial setback can seem catastrophic in your mind. This is a perfect opportunity to face down your negative thoughts by considering the best, the worst, and the most likely scenario. Best case: you win the lottery or get a completely unexpected bonus in exactly the right amount to cover the extra expense. (Not likely, but it’s a game!) Worst case: you can't make rent, your landlord kicks you out, you end up moving back in with your parents or crashing with a friend while you get back on your feet.  (Pretty horrible, but still not AS awful as the unvoiced concerns that were looming silently but powerfully in your head.) Most likely: You have to reallocate funds from something you were looking forward to cover the shortfall. A bummer but not nearly as awful as your subconscious had teased you into believing. 

2.      Keep a gratitude journal for a couple of weeks-- Dr. Seligman, the founding father of positive psychology, asked participants to write three things that went well that day. After one week subjects in the study were 2% happier than before, and in follow-up tests, their happiness kept on increasing--5% at one month, 9% at six months. The gratitude journal is one great way to increase our positive thoughts. The financial concerns are REAL, but so are all the amazing things in your life. Don’t allow the worry to drown out the joy. If you know you’re going to write three things tonight for which you are grateful, you’ll start watching for things throughout your entire day. This shift in mental focus is liberating! Do your worries go away? Of course not. You still have a financial conundrum to figure out. BUT your focus on possibility will actually spur your creative problem solving. 

3.      Counter extremist language-- Let’s imagine the worst case scenario DOES come true. Financially your situation is BLEAK. Don’t beat yourself up with extremist language that will only reinforce a negative thinking pattern. If you hear yourself saying (or thinking!), “I ALWAYS manage to screw up my bank account and end up overdrawn,” counter the extreme language with reality. “This is the third time this year I’ve been overdrawn.”   Hear yourself say, “I will NEVER pay off my student loans and be out of debt.” Counter that “NEVER” with fact. “If I pay back my loans at this rate, I will be in debt until 2025.” The news may still not be picture-perfect but you stop the brain from catastrophizing the situation. 

You may be strapped for cash this week, this month, or this year, but that doesn’t mean you have to be despondent. Staying positive is possible and is one choice that is completely within your control.  

Brenda Bailey-Hughes teach communication and leadership at Kelley School of Business, Indiana University and coaches clients around the world to improve their communication.