Career Struggle and Financial Anxiety Are a Packaged Deal
by Lisha H.
Image is rom Pexel, and the photographer is https://www.pexels.com/@cottonbro/
Being financially independent is something everybody is hustling for. If you graduated from university and started to live on your own, you might have had financial anxiety. Especially for those women who live abroad, the situation can be more complicated than others. Moving into another country is a big deal from both points of adjusting to the culture and building up your career. Additionally, if you are a new graduate, it is the time you have a sort of quarter-life crisis. Let’s talk about money openly and find out how people are figuring out their way.
I am 24 years old and currently in a transition from my previous job to my dream career. I have been in the hospitality industry for almost 6 years. When we hear “hospitality” what kind of impression do you get? It may give you the impression that it is both an energy and time-consuming industry with a low salary, right?
My career in this industry begun when I was a freshman at my university. I worked at Starbucks, Blue Bottle Coffee, and many individual cafes as a professional barista but only for my resume. For a long time, I told myself that this was only a temporary career, yet I ended up sitting in this comfortable chair for too long. I felt left behind as other people my age were finding their office jobs.
When the pandemic hit, everybody seemingly faced a lifestyle change and I was no different. I was about to graduate and wanted to move to another country. For a while, I stayed in the hospitality industry just to save up money while I build my dream career path. Right now, I am finally starting to see the way and get out of my 6-year career as a barista. Then I looked around and I saw many people were and are having quarter-life crises (i.e., career struggles). This fact made me think, that whatever I was feeling behind or ashamed of my career struggles, many others are experiencing the exact same. I am not alone. But moving to the other country is such a hustle. My income was not stable, and my financial anxiety hit me.
Financial anxiety is something everybody feels at some point. I asked participants in a survey if they have experienced financial anxiety and if so, how do or did they cope with it?
“I’m not a much of person who saves up some money for the near future. I believe it's more meaningful to spend money on my present self. So, I don’t usually get stressed about the finical issue and I try not to.”
- Female, 25 years old
“By planning my expenses and bills and by saving money.”
- Female, 24 years old, living abroad
“Therapy, meditation, and psychedelics.”
- Male, 26 years old, living abroad
“I don’t - it’s something that haunts me on a daily (especially towards the end of the month before payday) with the high living expenses while also facing the pressure to ‘enjoy life’ It scares me, even more, to think of what to do when I’m retired… which is half a century ahead, but it is something that already gives me anxiety.”
- Female, 27 years old, living abroad
“I don’t really LOL. I try to save when I can but growing up, I was limited to enjoying fun because my family didn’t have much so now, I try to enjoy but also save here and there. I don’t make absurd purchases, mainly thrift my clothes and accessories and try to walk/bike instead of Ubers when I can. OR try out new meal plans. I save money on rent and home stuff by having a boyfriend…honestly that is a little tip.”
- Female, 25 years old
“Mostly ignoring it and hoping the student loan forgiveness will happen. I try to set budgets, but I get really frustrated. I generally try to control as many costs as I can (groceries, eating out and such) but so much is not in my control, and I have to remember that. I'm just doing the best I can.”
- Female, 45 years old
“I'm not sure I can manage that anxiety yet…it’s always there…but I try to make budgets to be organized with my finances.”
- Female, 25 years old, living abroad
Financial anxiety does not only occur because you do not have money. It happens when you fear your income situation or worry about your savings. As a sign of symptoms, I had an upset stomach when each time I checked my bank account or tried to work too hard (i.e., no work-life balance) and could not stop thinking about how to save more money. In Money Anxiety Is Common, But You Don't Have to Handle It Alone, Healthline shares that financial anxiety stems from “an uncertainty of what the future holds.” There is a present fear of not having the resources available to meet your financial needs or challenges that may lie ahead.
To cope with and live without stress, it is important to treat your anxiety as well. But what do we do? It is simple. First, make a budget. According to a study from the National Centre of Biotechnology Information, planning your expenses and making a budget was the most effective way that workers used to release finance-related anxiety. Second, understand where does your anxiety originate from by solving the core issues, you will be able to find the exact way to cope with them.
In an article, Lindsay Bryan-Podvin stated that “identifying what causes anxiety is often the first step in managing it, and research has found that naming our feelings can help make them less intense.” Third, grounding. Trying to relax through meditation or be active. Not only for financial anxiety but any sort of anxiety or stress relief, these ways of relaxing will help release your overwhelming mind to calm. Lastly, talk openly about your financial situation with your friends, partner, and family. It may be a bit awkward to talk about money with someone except your accountant or financial therapist but opening up to somebody you trust surely helps you to remind yourself, that you are not alone.
Financial anxiety and career struggle are a package set. It is hard to cope with but remember, you are not alone, and everybody is struggling in their way.
