Tips for Coping with Financial Stress as a Family

With today's economic downturn many families are experiencing financial stress. To help understand what type of impact financial stress can have on a family and for tips on coping with financial stress as a family, I have interviewed psychotherapist Caroline Aller, LCSW.

Tell me a little bit about yourself.
"I am a certified cognitive therapist and Diplomate Member of the Academy of Cognitive Therapy (ACT). I trained with Dr. Aaron Beck and Dr. Judith Beck at the Beck Institute in Philadelphia, PA. Cognitive therapy is a type of psychotherapy used to treat many disorders, including depression, anxiety, and stress. Cognitive therapy focuses on the ways in which we perceive situations, events, relationships and even our selves. The work is to asses whether or not our thoughts are accurate or if they might be exaggerated or distorted in some way. We then consider more realistic and pragmatic ways to understand the situation in an effort to decrease the symptoms."

What type of impact can financial stress have on a family?
"Financial stress can affect anyone at any given time. In a household, however, it only makes sense that the stress of one family member has the potential to trickle down to others."

What are some tips for coping with financial stress as a family?
"Managing one's own anxiety effectively as an adult can provide an opportunity to model stress management for your children. Ask yourself to be as specific as possible in identifying the fears behind the anxiety. What is your 'worst case scenario' and how realistic are your fears? Many people's thoughts tend to be somewhat exaggerated when experiencing extreme stress. Try and respond to any distortions with a more accurate portrayal of the situation. Perhaps things are indeed very difficult in the moment, but it is not always going to be this way. How well do you trust your own ability and resiliency in this moment? How have you overcome other crises in the past?

In addition, finding balance between sharing and protecting children from the stress is important. Overcoming adversity, as a family can be an incredible learning experience that can bring families closer together. But it is also crucial to recognize how money and its impact on family stability are difficult concepts for children to comprehend. Not having the capacity to understand these concepts can cause children to feel even more scared and out of control than their parents feel about the family's circumstances."

What type of professional help is available for a family that is having a difficult time coping with financial stress?
"Parents set the emotional tone in the household and should ideally create one based on feelings of stability and security. That isn't always easy. Therefore, professional help can assist parents in developing the tools to do this successfully. Parents can, not only increase their own coping strategies for managing stress, but can also receive guidance as to how to teach their children these skills. These are universal tools that last a lifetime. Your children can benefit from observing you utilizing such tools long after this challenging time is behind you."

Thank you Caroline for doing the interview on tips for coping with financial stress as a family. Caroline is in private practice in New York City, however, will be relocating her practice to the Northampton / Amherst area of Massachusetts this summer. For more information on Caroline Aller or her work you can check out her website on www.carolinealler.com.

Recommended Readings:

http://www.associatedcontent.com/article/1828677/parenting_in_the_current_financial.html?cat=25">Parenting in the Current Financial Storm

http://www.associatedcontent.com/article/370911/strategies_for_saving_money.html?cat=46">Strategies for Saving Money

http://www.associatedcontent.com/article/6257728/coping_with_todays_economic_stress.html?cat=5">Coping with Today's Economic Stress