How to deal with financial anxiety in election years, according to financial therapist Aja Evans

It's normal for people to feel anxiety before a presidential election. Will your preferred candidate win? And if not, what impact will that have on your life, your rights and your finances?

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“Election years are always pretty scary for people because there's potential for change and a lot of fear of the unknown. People want to feel safe,” financial therapist Aja Evans told financial correspondent Farnoosh Torabi in a recent episode of Torabi's podcast “So Money.”

The two women discussed ways to manage and alleviate financial stress during this election year.

Here are five tips to help you feel more confident about your financial future, regardless of who moves into the White House next January.

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Control what you can

There are aspects of the economy that no single person, including the President of the United States, directly controls. These include interest rates, inflation, and the labor market. Although the President can direct policy, the United States has a system of checks and balances. Moreover, too many elements affect these aspects of the economy to assign blame or credit to any one person, or even to the government as a whole.

People who don't work in politics have even less influence on policy. While you may be concerned about student loans, the high cost of child care, and the housing market, it can be helpful to focus on financial factors that are within your control.

“You can control how you vote. You can control your lifestyle. You can control how you make certain choices in your daily life that affect the world you want to see,” Evans said.

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Do you have a plan for the worst-case scenario

Evans said she would ask her clients, for example, “Hey, what would be the worst case scenario? Explain to me what kind of disaster would happen.”

Although such a disaster will not occur in most cases, Evans' clients can develop a plan to deal with the worst-case scenario by role-playing.

Stop scrolling

Scrolling through social media can lead to overspending, Evans claims. “A lot of people spend money by clicking on links and affiliate links… I'm here for all of our influencers, but I want to make sure my people aren't spending so much money without realizing that they're trying to deal with their anxiety.”

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Evans recommends taking a social media break or at least setting an alarm to limit the time you spend on your phone.

Stay connected

When you log off social media, try to connect with people in your real social circle and community, Evans suggests.

“I really can’t stress enough how important it is to be part of a community… [E]”Especially in these times, when you feel really lonely, it is very important to stay in touch with people you love and who love you,” she said.

Set financial limits in your multigenerational household

Evans and Torabi also talked about the unique challenges that come with living with multiple generations under one roof. Evans stressed the need to set clear expectations and boundaries with family members regarding financial contributions. “Understanding what role everyone plays in the family goal? I think that's going to be really important. It can also manage expectations.”

Communicate with your loved ones

Creating a financial plan with your family and setting goals requires solid communication.

“It's really about having those conversations with your partner,” Evans said. “Just as we want to show grace to our families and we want our families to show grace to us, we also need to show grace to our partner and ask for it in return… Often times we're struggling with a lot of money baggage and money stuff that we don't realize is reflected in our financial behavior.”

Make sure your spending aligns with your values

One way to feel financially secure during uncertain times is to make sure your spending aligns with your goals and values. That might mean reducing your retirement savings contributions to reduce debt. Or taking a short trip to relieve everyday stress. Or postponing an expensive vacation to save more money.

Evans advised family members, especially couples, to have a conversation to determine what is best in their situation.

“What do we need to do to feel comfortable and stable? That will be really helpful,” she concluded.

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This article originally appeared on GOBankingRates.com: How to deal with financial anxiety in election years, according to financial therapist Aja Evans