/How to Cope With Coronavirus-Induced Financial Stress

How to Cope With Coronavirus-Induced Financial Stress

Coping with stress and anxiety will help us persevere during this difficult time as the government encourages social distancing.

Following a mindful strategy will help us personally, and financially. (CNBC)

If you are struggling financially, here are eight steps to take now. And in the meantime, here are five ways to manage financial stress and anxiety.

1. Accept the current state of affairs

A lot of anxiety stems from not knowing what will happen with regard to the coronavirus, or how long things will be different, Megan McCoy, director of the personal financial planning masters program at Kansas State University, tells CNBC Make It. “When faced with the unknown, we often experience paralyzing anxiety,” she says.

The first step to overcoming that anxiety is accepting that your life is going to be different for a while and focusing on tasks you can control.

Keep reading at CNBC.com.