Good management of the economic crisis and its impact on emotions – Health and well-being

Every decision taken on a daily basis is related to finances and should be taken wisely considering the level of emotional intelligence as an important factor for good management. Noelia Taborda in Psychology by LIC.

Finance is the set of activities that move, control, use and manage resources such as money through decision making. It refers to the way in which people connect with the environment through their use of it.

Emotional intelligence is the ability to notice and understand people’s emotions appropriately and accurately; It involves the ability to assimilate and understand emotions sufficiently to regulate personal and others’ moods.

Emotions can be the best strength or the biggest weakness in money management, therefore, consider emotional intelligence as a good tool for building saving habits as well as good consumption habits, making good financial plans, setting up a personal budget. Appreciated, that helps. Have healthy personal finances, as when taking decisions it is extremely important to control emotions and not get carried away by impulses.

,What causes this emotional discomfort?
Uncertainty, lack of information, excess information, or irrational social behavior can contribute to emotional distress. This may lead to insecurity or a lack of control over the situation they are experiencing.

Coping refers to the series of thoughts and actions that enable people to deal with difficult situations; Therefore, it involves a process of efforts aimed at managing (reducing, reducing, tolerating or controlling) internal and environmental demands in the best possible way. In short, it can be said that coping constitutes those constantly changing cognitive and behavioral processes that are developed to manage specific external and/or internal demands that are evaluated as a surplus or overflow of the individual’s resources. is done.

According to experts Lazarus and Folkman, two general types of strategies are generally distinguished:

1. Problem-solving strategies: These are strategies that are aimed directly at managing or changing the problem that is causing the discomfort.

2. Emotional regulation strategies: These are aimed at regulating the emotional response to the problem.

In any case, there are actually many possible coping strategies that a person can manage (confrontation, distancing, self-control, acceptance of responsibility, escape-avoidance, positive reappraisal). The use of one or the other is generally determined to a large extent by the nature of the stress and the circumstances in which it occurs. In this case, we live in a society that is surrounded by external conditions like inflation and how much it impacts our households.

Faced with this uncertainty, there is a type of strategy that can be implemented to reduce the severity of mental health issues and which is usually very effective and that is planning to solve the problem, that is, thinking and Develop strategy. This corresponds to setting an action plan and following it.

Although it will not solve a country’s problem, developing a planning strategy for home has a direct impact on mental health, as taking the right financial decisions will greatly impact your mental state at that time.

Maintaining any type of plan requires, first of all, what is called self-efficacy, which relates to beliefs about one’s abilities to produce certain behaviors.

And on the other hand, maintenance and persistence, as they are the two pillars that help maintain the plan. Thus, it can be said that, without action, there is no progress.
Article published in educational material of Icarus Health & Longevity Center