Financial stress hinders our normal functioning and can completely paralyze someone. This is causing you to make less sufficient decisions or even not make any decisions at all.
It’s a bit like dieting: sometimes you count calories so obsessively that you don’t dare to eat anything anymore. Whether you lose yourself in a binge. Not coincidentally, money and food also stimulate the same areas in the brain”,
People in their twenties and thirties seem to be the most susceptible to this. For example, a study by Next Advisor (Time magazine’s personal finance platform) shows that young millennials experience “postcorona” anxiety about their finances, even though they were hit less than other generations on average.
Also in a Febelfin survey about half of young adults say they are worried about money in the aftermath of the pandemic. According to the Belgian banking federation, this would mainly have to do with a lack of financial literacy, as well as the taboo that still hangs around money.
After all, the less we talk about our money worries, the more they continue to gnaw and the solution is not forthcoming. As is often the case with such mental worries, talking is the code word.