Trauma of Money: What is Financial Trauma? What is Financial PTSD?
Trauma of Money
What is Financial Trauma?
Trauma of Money: What is Financial Trauma? What is Financial PTSD?
Have you experienced a sudden loss of finances, such as income, a job, or home?
Are bills piling up on the kitchen counter or on the desk?
Do you have a fear of answering the phone thinking a bill collector is on the other side?
Sleepless nights?
Constantly worried?
If you answered “yes” to at least one of the questions above, you may have experienced financial trauma.
Did you know you can experience financial trauma?
There are millions of people experiencing financial trauma.
If you were to Google the term trauma, results would display trauma as a highly stressful event such as experiencing an actual or possible threat to death, violence, or serious injury. According to this definition, financial trauma doesn’t exist…or does it?
There are millions of people experiencing financial trauma. In fact, according to a webinar provided by Financial Social Work Institute, many individuals develop symptoms that meet the criteria of Post Traumatic Disorder. Research shows an increasing number of individuals also experience physical health issues as the economic trauma appears to have a negative impact on their physical health.
Posttraumatic Stress Disorders signs and symptoms:
Anxiety
Mood shifts
Intrusive thoughts
Hypervigilance
Difficulty going to sleep, sleep disturbances
nightmares
Poor concentration
Recurrent dreams or flashbacks
Zoning out
Negative Thoughts about self, other people, and/or the world
Avoidance of stimuli
Irritability
Inability to trust
Out-of-body experiences
Feeling disconnected from the world around you
Many individuals who experience trauma often experience suicidal ideation.
Signs of Financial Trauma:
Financial PTSD symptoms and signs may look like this:
Feeling anxious when a bill collection agency calls
Avoiding opening mail, particularly bills
Unwanted thoughts related to finances or the loss of finances
Ruminating and constant worry and fear when it comes to money
Low mood
Feeling exhausted
Irritable during conversations about money
How to get help
Many individuals who experience trauma often experience suicidal ideation. If you are experiencing thoughts of suicide, getting support may benefit you. Mayo Clinic has provided the following resources to seek support:
Reach out to a close friend or loved one.
Contact a minister, a spiritual leader, or someone whom you trust in your community.
Call a suicide hotline number — in the United States, call the National Suicide Prevention Lifeline at 1-800-273-TALK (1-800-273-8255) to reach a trained counselor. Use that same number and press 1 to reach the Veterans Crisis Line.
Make an appointment with your doctor or mental health professional.
Other resources may include:
Schedule a session with a Financial Social Worker to address emotions/moods related to finances while developing action steps to address financial concerns.
Text a crisis line- by texting the Crisis Text Line at 741-741
If you currently attend counseling at a mental health agency or private practice, ask if they have an on-call contact number or After-Hours Line for clients to utilize.
Seek self-care tools to help reduce stress and reduce symptoms by utilizing Mental Health Experts’ Favorite Self-Care Tools and Interventions.
Related Article: How to Stop Letting Money Negatively Affect Your Health
If you feel you cannot maintain your safety, please visit the nearest hospital to get the support you need.
Summary
Many people are suffering from financial posttraumatic stress disorder. Although financial PTSD is not an official diagnosis, the signs and financial trauma symptoms are like PTSD from other traumatic experiences. Several symptoms can be experienced after a financial crisis or loss such as high anxiety, low mood, on high alert, constant worry and fear of financial tasks or difficulties, avoidance of stimulation related to financial responsibilities, bills, and more.
There is hope for you. Engaging in counseling with a therapist informed in trauma can be helpful or even a therapist who can assist in exploring your emotions related to money problems, financial information and material may be necessary. If you do not experience emotional impact but maybe your health is negatively impacted by finances seeking support, including counseling can be helpful. In the meantime, if you feel a desire to harm yourself or have thoughts of suicide text the Crisis Text line at 741-741 or call the National Suicide Prevention Hotline at 1-800-273-8255.
Do you think financial PTSD should be an official diagnosis? I’d love to know your thoughts, let me know in the comments below.
Additional Resources
For the Professionals and Entrepreneurs
In a previous article, I provided resources for professionals and entrepreneurs to help streamline their life by outsourcing, delegating tasks, or stretching a dollar or two. The article contained links to assist in using resources for free or at a reduced cost for several months. If you are interested in the article 6 Tools for Professional Women to Streamline Business, feel free to visit.
Written By: Reynelda Jones LMSW-C, ADS, CAADC
CEO and Lead Therapist at A Solution B, LLC
If you're in need of working through some issues and feel you would benefit from a holistic therapeutic approach, Contact me today for a session.
Join my Facebook Community, The Wellness Solution: Mind. Body. Home . The Wellness Solution community is open to women who seek wellness using holistic approaches by taking steps to address their mind, body, and home. In this group, members ask and answer questions, encourage, and support one another.
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