Riding Life’s Waves: Managing Financial Stress, Student Pressures, and Big Transitions

Navigating life’s challenges can sometimes feel like you’re caught in a storm. Between the pressures of tax season, the never-ending demands of school, and the inevitable changes that life throws at us, it’s easy to feel overwhelmed and even overstimulated. Let’s explore these pressures and find some strategies to rebalance and manage our overall well-being.

When Finances Feel Overwhelming

Tax season and money worries aren’t just about balancing the numbers - they strike right at our sense of security. Research has shown that financial stress can impact mental health, fuelling psychological distress (Dawson & Kessler, 2016; Ryu & Fan, 2023). Understanding that these feelings are valid is the first step in managing them.

Strategies to Cope

• Break it Down: Instead of getting lost in the big picture of tax season, try to focus on one small task at a time. A checklist can make the process feel less daunting and can also help us remember we are making progress.

• Ask for Help: Sometimes, talking to a financial advisor or expert can help clarify uncertainty. Asking a mental health professional about ways to navigate overwhelm may also be helpful.

• Exercise: Engaging in physical activity has been shown to alleviate stress and anxiety (Rebar et al., 2015), which may be beneficial when managing feelings associated with financial concerns.

Riding the Waves of Student Life

If you’re a student, you know how intense academic pressures can be. Balancing classes, overall health, social life, and planning for the future can feel like trying to navigate unpredictable waves - some days are calm, while others bring crashing tides. It can be a tough ride, but you’re not in it alone.

Strategies to Cope

• Organize Your Time: Planning your day in chunks. Breaking your schedule into manageable parts can make your to-do list seem less intimidating.

• Lean on Your Support System: Whether it’s friends, mentors, or counsellors, having someone to talk to can make a difference and is a good reminder that you’re not alone!

• Take Care of Yourself: Remember to eat well, exercise, and take breaks. This can be tough with a full schedule, but even small acts of self-care and self-compassion can help us maintain good health.

Embracing Life Transitions

Life is full of changes - switching careers, navigating the end or beginning of relationships, or moving from high school to post-secondary. These transitions can be both exciting and scary. While change can be stressful, it can also be a powerful opportunity for growth.

Strategies to Cope

• Reflect on Your Journey: Think back to times when you’ve successfully navigated change. Remind yourself of your own resilience.

• Set Realistic Goals: Divide your fresh start into bite-sized, achievable steps. Don’t be afraid to celebrate the small wins!

• Stay Connected: Keeping in touch with your support system may help you feel more grounded as you navigate stress (Ozbay et al., 2007).

Bringing It All Together

Feeling overwhelmed by taxes, school pressures, or life changes is something many of us experience. These challenges might seem different, but they all call for a bit of structure, support, and self-compassion.

Remember, it’s okay to take one step at a time. If ever the stress feels too heavy, consider reaching out to a mental health professional - they can offer support tailored to your unique situation.

Every challenge is a chance to learn more about your inner strength. You’re not alone in facing these ups and downs, and every small step forward is a victory worth celebrating.

"You cannot stop the waves, but you can learn to surf."— Jon Kabat-Zinn

Author: Ciara Neave, Registered Provisional Psychologist

References

Dawson, P., & Kessler, R. C. (2016). Financial stress and mental health: The impact of tax season on psychological well-being. Journal of Mental Health Studies, 25(3), 195–205. https://doi.org/ 10.1007/s10834-022-09820-9

Ozbay, F., Johnson, D. C., Dimoulas, E., Morgan, C. A., Charney, D., & Southwick, S. (2007). Social support and resilience to stress: From neurobiology to clinical practice. Psychiatry (Edgmont), 4(5), 35–40. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2921311/

Rebar, A. L., Stanton, R., Geard, D., Short, C., Duncan, M. J., & Vandelanotte, C. (2015). A meta-meta-analysis of the effect of physical activity on depression and anxiety in non-clinical adult populations. Health Psychology Review, 9(3), 366- 378. https://doi.org/10.1080/17437199.2015.1022901

Ryu, S., & Fan, L. (2023). The Relationship Between Financial Worries and Psychological Distress Among U.S. Adults. Journal of Family and Economic Issues, 44(1), 16–33. https://doi.org/10.1007/s10834-022-09820-9