Understanding the human side of money and finding calm in uncertain times
Let’s face it: money isn’t just numbers. Money is tied to our dreams, our stress, our sense of security—and our emotions. So, when the economy gets shaky, it’s completely normal to feel uncertain or even overwhelmed. You’re not alone.
At IC Credit Union, we understand that financial well-being goes beyond your balances and budgets. It’s about how you feel—and how those feelings can shape the financial decisions you make. In uncertain times, our role is to help you stay grounded, supported, and empowered with information and empathy.
Let’s explore how emotions influence the financial decisions we make, and more importantly, how you can stay centered when things feel out of balance.
Why Do Our Emotions Affect Our Financial Choices?
Behind every financial decision we make is a feeling we feel, because money is emotional. It’s more than math or numbers. Money is tied to our needs, wants, goals, and even our sense of identity. Whether it’s fear during market volatility, excitement during a spending spree, or stress from unexpected bills, our emotions have a big impact on how we manage money.
Here are a few common emotional responses to financial uncertainty:
Fear or Anxiety
When the market experiences dips and financial uncertainty rises, it can be natural to feel fear and anxiety and want to minimize risk. This can look like hoarding cash, avoiding financial conversations, or pulling money out of investments. Rash decisions caused by fear and anxiety can come at a long-term cost.
Shame or Guilt
During times of economic uncertainty, it is natural to feel guilt or shame about your financial situation, or decisions you’ve made in the past. You might feel regret about past purchases, financial mistakes you’ve made or worry that you’re “behind” others in savings or retirement. This can present itself in different ways, with some people attempting to overcorrect by cutting out any non-essential spending, even things that bring joy or serve long-term goals.
FearStress and Overwhelmed
Financial decisions can feel stressful and overwhelming. When everything feels uncertain, it’s tempting to adopt an “ignorance is bliss” mindset and ignore your finances altogether. However, avoidance can lead to larger issues.
Relief or Euphori
Fear Relief or Euphoria
On the flip side, a financial windfall or tax refund might trigger impulsive spending without a plan.
These are very human reactions, but they don’t always lead to the best long-term outcomes. The good news? By recognizing emotional triggers and creating space for thoughtful decisions, you can respond more intentionally.
How to Stay Grounded in Emotional Financial Moments
Here are practical ways to keep calm and stay in control—especially when the world feels out of your hands:
Pause Before Reacting
Strong emotions can cloud judgment. If you’re feeling anxious, frustrated, or impulsive, give yourself a moment to reflect before making financial choices. A simple 24-hour pause can bring valuable clarity and help you avoid future stress.
Focus on What You Can Control
You can’t control inflation, interest rates, market trends or the stock market. but you can manage your budget, build your emergency fund, work to get out of debt or adjust your goals.
Have a Plan, and Revisit It Often
Financial plans aren’t one-and-done. When life, or your goals change, it is important to revisit your goals and strategies regularly. Even small adjustments can give you a sense of control and progress.
Talk it Through
Sometimes, just voicing your worries can lift the weight. Speak with a financial advisor, or even a trusted friend. We’re here to help you think clearly, take some of the weight off your shoulders and not judge your feelings.
Limit Financial Doomscrolling
The news cycle thrives on urgency. While it is important to stay informed, it is necessary to avoid obsessive monitoring. Set healthy boundaries for financial news and social media.
Practice Self-Compassion
We are all human, and we all make money mistakes or feel financially insecure at times. Extend yourself the same empathy you would offer someone else in your situation, and remember, be kind to yourself.
You’re Not Alone
At IC Credit Union, we don’t just see account numbers. We see people. Members. Neighbors. Families, and most importantly, we see you, doing your best in a changing world.
We’re here to support your financial health with heart and honesty. That means giving you real advice when you need it, flexible options when life throws a curveball, and the reminder that it’s okay to take a breath and ask for help.
Let’s Make Financial Decisions with Confidence, Not Fear
When emotions influence money decisions, the key isn’t to suppress those feelings, it’s to acknowledge them and make space for better choices.
We’re here to walk alongside you, not just during the good times, but through the ups and downs, too. Whether you’re anxious about the market, uncertain about a career change, or simply want to check in on your savings plan, we’re ready to listen and help.
Feeling overwhelmed? Let’s talk it through.
Schedule a one-on-one chat with an IC Credit Union advisor. It’s free, judgment-free, and focused entirely on you.
