😶‍🌫️ Tax anxiety and what to do about it

Rachel Duncan, Financial Therapist, responds to a listener question about the emotional side of taxes. Why do we still feel tax anxiety even when we've improved our systems and understanding? We dive into the psychology behind our tax-related stress and offer practical solutions to help soothe your tax anxiety.

1. How childhood experiences with taxes can create lasting anxiety

2. The anniversary effect - how your body remembers past stressful tax seasons

3. Understanding anxiety as your body's call to action

4. The four trauma responses (fight, flight, freeze, fawn) in relation to taxes

5. Somatic awareness exercises to identify and soothe tax-related fears

💬 "Your logical brain knows that you've done everything right, but your body is remembering past experiences of tax anxiety. It would make sense that your nervous system today is trying to protect you from that perceived threat happening again."

Key takeaways:

1. Tax anxiety is incredibly common, especially for self-employed people

2. Our bodies may be responding to past negative tax experiences even when our minds know we're prepared

3. Anxiety is your body's signal to take action - physical movement can help process it

4. The four trauma responses can manifest in our tax behaviors: fighting the system, avoiding/procrastinating, freezing up, or overcompensating

5. Rightsizing the threat helps put tax concerns in perspective

6. Creating positive sensory associations can help rewire your tax experience

7. Problems and mistakes with taxes are fixable

⏰ EPISODE BREAKDOWN

1. 00:02:00] Amelia's question: why do I still have tax anxiety despite having systems in place?

2. [00:08:00] How to understand anxiety as your body signaling you to take action

3. [00:09:00] The four trauma responses and how they manifest around tax time

4. [00:14:00] Somatic awareness exercise to identify and soothe tax anxiety

📚 Resources Mentioned

1. Off the Grid Podcast (Amelia Hruby, thanks for the question!)

2. Tax calculator (but if you're self employed, add an additional 7.65%)

3. Find a volunteer to help you with your taxes for free

💬 Join the Conversation

Click on the big orange button on our site right from your phone or browser and let me know what's one step you'll take to work through tax anxiety?https://www.moneyhealingclub.com/podcast

 

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