Financial Media Got You Down? Here’s How to Feel Better
Does market volatility have you anxious? Are you ready to sell everything when the indexes plummet again? Is inflation gnawing at you?
You’re not alone. The litany of negative economic and market headlines can steamroll the optimism out of anyone. (It’s not all bad, I promise!) Layer in the “regular” news like the war in Ukraine, and the uncertainty can leave you depressed. One therapist even coined the term “headline stress disorder” to describe the impact that negative news can have on well-being.
You don’t have to let the news weigh you down. Here are 10 tips to help ease the strain of 24/7 information and feel good about life again.
1. Be informed, not saturated. There’s a tipping point between knowing what is happening in the world and getting weighed down by media overconsumption. Pay attention to the signals indicating you’ve had enough. Maybe you feel like the world is a dangerous place, or perhaps you argue with people in the comments section. Whatever your tipping point is, respect it and turn off the news.
2. Take a media fast. Sometimes our well-being requires us to step away from the news altogether. When every other headline is ratcheting up fears that we’re in a recession, turning off the news can be a great decision. You’ll know when it’s time to get informed again.
3. Curate your social media feed. If your Facebook feed is getting you down, take control. Unfollow pages that stress you out; mute people who raise your blood pressure. Like pages that inspire you and promote goodwill. It’s easy to blame algorithms, but algorithms are based on our clicks and other interactions. By winnowing out the negative, you’ll make room for the positive.
4. Avoid the comments section. Whether you’re on a news site or Twitter, avoid indulging in the comments, which are often awash in negativity.
5. Focus on what you can control. We can’t dictate market ups and downs, but we can act to help mitigate the impact, such as building a diversified portfolio. If we give up worrying about events outside of our control, we can direct our attention toward the positive steps to take with our finances.
6. Meet a friend for lunch. We live so much of our lives virtually nowadays that we can forget just how grounding our in-person connections can be. Nurturing your relationships with your family and friends can force the news to take a back seat.
7. Do things you enjoy. Walk your dog, read a book, go hiking, paint art—do whatever you love so you feel good about life again.
8. Talk with a financial advisor. At our Denver area financial planning firm, we often serve as coaches, providing objective perspectives based on our education and experience. If you’re not working with a financial advisor, consider talking to one who is a fee-only fiduciary so you get advice in your best interest.
9. Keep things in perspective. Remember that our country has experienced inflation and supply shortages before. We’ve recovered from recessions and the Great Depression. A historical perspective on market drops and other financial news can help build morale.
10. Get involved. Proactive action like volunteering can empower you. Where do your passions lie? It’s practically guaranteed that you can find an organization matching your interests. And if not, consider starting one.
It’s easy to get rattled by the doom-and-gloom of financial news headlines, but these 10 steps can help reduce the impact. Limit your exposure to media, or eliminate it entirely. Spend time on the people and experiences that make life meaningful. Consider working with an advisor to build a financial plan that helps you feel more confident. By focusing on what’s in your control, you can worry less and increase your well-being.
We offer a complimentary 15-minute call to discuss your financial situation and concerns and share how we may be able to help.
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