Your money stress may not be about the paycheck: What's really behind your financial anxiety?
This thought-provoking perspective is emerging at the intersection of psychology and personal finance, thanks to experts like Megan McCoy, a financial therapist and professor at Kansas State University. In a recent feature published by CNBC Make It, McCoy reframes
financial anxiety
not as a crisis of income, but as a possible identity conflict.
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When Money Becomes the Mirror
McCoy explains a crucial difference: 'Financial stress is external and immediate—like not having enough money to pay rent this month. Financial anxiety, however, is more vague. It's a fear that lingers, even when things seem fine on paper.' It's this invisible weight that keeps people up at night, even when their credit score is healthy and bills are paid.
To get to the root of this, McCoy often asks her clients a deceptively simple prompt: 'If you woke up tomorrow and by some miracle your financial anxiety was gone, what would feel different?'
The answers she receives rarely involve a dollar figure. Instead, clients talk about feeling freer, lighter, more in control. They describe being more present with their kids, less guilty about taking time off, or simply not comparing themselves to others on social media. That's when the real issue reveals itself—because money, it turns out, is often just the most visible outlet for deeper insecurities about identity, self-worth, and societal expectations.
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Financial Anxiety or Life Misalignment?
This exploration resonates with a growing number of young professionals and families who find themselves constantly chasing the next financial goal, only to feel just as anxious when they reach it. It echoes recent viral commentary from finance educator
Akshat Shrivastava
, who advocates for
intentional living
over status-driven spending. His advice—save wisely, choose value over vanity, and create instead of consume—has struck a chord precisely because it taps into something emotional: the need to feel purposeful, not just prosperous.
Shrivastava's idea that "some savings is better than none" becomes more profound when seen through McCoy's lens. Saving isn't just about building wealth—it's about reclaiming agency. It's iteration capital, a cushion for reinvention, a vote of confidence in your future self.
A New Kind of Wealth
So what happens when we stop asking, 'Do I have enough money?' and start asking, 'Am I living in alignment with who I want to be?' According to McCoy, that's when the healing begins. Maybe you open a small savings account for weekend getaways, not because it's practical, but because it symbolizes freedom. Maybe you stop comparing your career trajectory to your peers' and start defining success on your own terms.
McCoy's miracle question might help you untangle financial fears from personal truths, reminding that wealth is not just about accumulation, but about intention. And maybe, just maybe, the path to financial peace begins not with earning more—but with understanding why you're worried in the first place.
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