Keeping Your Balance in Turbulent Times

Dr. Weiner is a speaker for Vistage, an internation organization of CEO’s. This article appears in the April 2009 issue of the enewsletter, Vistage Voice.

By Eric L. Weiner, MSW, Ph.D.

A friend recently confided in me saying, “This down market has me scared. I can’t sleep at night. I don’t know if my business will be here three months from now.”

Certainly, some anxiety about this economic crisis is normal and expected. Some people, however, have become emotionally hijacked. They are gripped with fear and seem to be spiraling downward.

The current financial crisis is no different for us than what the approaching saber tooth tiger was for our ancestors. In less than an instant our internal security system is activated and we are in full survival mode. That’s what we need to elude the immediate danger. If we live chronically in this state of fear it can over-tax our system and set the stage for many health problems. Is your fear center switched on? How do you know? Look for the following signs:

F:  Flight, fight or freeze. These are the behavioral components of fear. Some people choose to flee the situation. They are selling their investments and taking huge losses. Those choosing to fight may be “biting off the heads of others who look at them the wrong way. Others may be emotionally frozen and unable to function.

E: is for the expectation of doom. People gripped with fear have lost their vision. The crisis is a confirmation that the end is near. They can see no light at the end of the tunnel.

A: is for anxiety and is a response to real or imagined events. In extreme, anxiety can overwhelm our ability to think and focus on any given task.

R: is for relationships. Heightened fear and self-preoccupation go hand in hand. When this happens relationships suffer because fear is all consuming and makes us less available to others.     

It is possible to change how you cope with distressing events. People who hold up best to stress experience fear but don’t get consumed by it. They utilize some of the following skills to maintain emotional balance.

Maintain Perspective. The financial news is bad but not a reason to move into self-blame. Don’t deny the reality of the situation but try to take a broader view of events. Balance out the negative with something positive. Hope for the best. Opportunities exist everywhere for people that maintain perspective.

Practice Self-Care. Different stress-management techniques work for different people. Pick and choose from the following and see what works best for you: prayer, mediation, exercise, gardening, yoga, poetry, pleasure reading, to name a few. Whatever you choose, find a way to make it a part of your practice.

Know Thyself. Everyone has a money story. These stories contain deeply rooted emotional messages (e.g. “Don’t be a financial failure like your uncle” or “Happy and successful people are wealthy”) that influence how we think and make financial decisions. Such stories operate mostly out of our awareness and, if left unchecked, make us especially vulnerable in times of economic crisis. Take time to understand your  money story. Consider working with a coach on this project.

Develop Appreciation. We are all more than the sum of our material possessions. All the literature on happiness boils down to one thing: happiness is a measure of appreciation that goes beyond the financial. Develop and practice your appreciation for all things non-financial.

Turn to Others. Lean on others for advice, feedback and support. Your colleagues at Vistage offer a tremendous resource. Don’t ignore their words. Spouses, friends, other family members and even consultation with a licensed therapist can offer the glue you might need to hold yourself together.

We live in tough times. Now is the time to find and practice skills that can help us stay balanced. These skills can act as our hedge against fear.

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Published in Vistage Voice, (e-newsletter), April, 2009.