Dr Phil on managing Financial Stress:

I walked past the TV and caught Dr Phil going hammer and tongs into our relationship with money in these tough times - It was homespun, simple and fantastic and I hope you find something in this to help you find your own strength. There's a link to his website where you can find a whole lot more tools and exerpts from this show. Thanks again Dr Phil!

Dr Phil is asked this question:

"I am scared. How do I cope with the financial stress and fear?"
Dr. Phil says:

People may have been complicit in this crisis by overspending and living beyond means, “but the truth is, a lot of it was done to you.”

• Forgive yourself/Don’t buy into guilt

• Manage your reactions

• Don’t withdraw and isolate from others “Talk about this. So many people are in the same boat,” Dr. Phil says.

• Recognize and deal with stress “There are so many things you can do. What will hurt you the most is to feel like you’re helpless, and you’re not,” Dr. Phil says.

• Affirmatively make and execute a plan “Whether it’s clipping coupons, cutting up credit card, moving to a small apartment, take control so you know you’re not helpless,” Dr. Phil says.

• Exercise/Sleep well Don’t neglect your health.

• Avoid stimulants “For God’s sake, do not start drinking and drugging,” Dr. Phil implores. “That is not going to help this situation.”

more from Dr Phil

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