By: Joey Casolaro, CFP®
Improve Sleep and Reduce Stress
Would you believe it if someone told you that you could improve sleep, reduce stress and anxiety, and boost your mental well-being by reducing social media and news intake?
About four months ago, I decided to conduct a self-experiment where I reduced the time spent on social media apps and watching news channels. To do this, I deleted all the social media and news applications (apps) off my phone on Sundays and waited until Fridays to re-download them.
During the first couple of days, I found myself picking up my smartphone and trying to search for the apps I typically use, Instagram & CNBC. After quickly realizing I had deleted the apps, I would put my phone down and continue with whatever I was doing.
After the first week, I experienced increased mental clarity and free time outside my usual daily activities. I also didn't have the urge to use my smartphone at random times throughout the day. Fast forward to today, and I am happy to report my sleep has improved, my stress levels are at an all-time low, and my mental well-being has never been better.
Before beginning this experiment, I was never addicted to social media or TV. Still, I mindlessly scrolled through social/financial media apps whenever I picked up my phone, especially in the morning as soon as I woke up.
Although it may not seem significant, the main issue with this habit is that any negative information you read will trigger your stress response and, as a result, put you in an agitated mood for the rest of the day.
For example, if you turned on the news as soon as you woke up and saw the following headline:
Chart suggests it’s ‘way to early’ to expect the stock market to rebound, Jim Cramer says
Your emotional response may kick in, and you start the day in a stressed frame of mind. What if you woke up and saw this headline?
Chart suggests the market will bottom in the coming weeks followed by a ‘powerful’ rally, Jim Cramer says
Although you may at first feel good, the next piece of negative information may cause tension. The emotional swing from peace to anxiety to peace is stressful on your brain and endocrine system.
The two quotes above are actual headlines from CNBC released within four days of each other. Studies have shown that psychologically, people are more affected by negative than positive information.
Loss aversion is a cognitive bias that describes why the pain of losing money is twice as powerful as the pleasure of gaining money. For instance, if you've found 10 dollars, you'll feel good for a little while. But if you ever lost 10 dollars, you'll spend time trying to find it and feel bad about it longer than had you found 10 dollars.
Social media apps and cable news channels know this human condition better than anyone, which is why news content is predominantly negative.
Social media apps and news channels have one objective, to bring in as many viewers and clicks as possible to increase their revenue. If you are disciplined enough to exercise self-control, then this may not apply. However, if you're like most people, including myself, setting up guard rails to limit your time spent on these could help you through turbulent times like we've been experiencing.
Life has too much to offer to be scrolling on your phone screen all day and watching the news.
Cramer: Charts Suggest It's Way Too Early for the Market to Rebound
Jim Cramer: Charts Suggest the Market Will Bottom in the Coming Weeks
Joey Casolaro is a CERTIFIED FINANCIAL PLANNER™ at HIGHLAND Financial Advisors, a Fee-Only fiduciary wealth advisory firm that offers comprehensive financial planning, retirement planning, and investment management. Joey graduated from the University of South Florida with a bachelor’s degree in personal finance and successfully passed the CFP national exam in 2021. Joey enjoys working out, spending time outdoors, and hanging out with family and friends in his free time.
Flourish Cash Announcement
Effective Monday, November 7, 2022, the top Flourish Cash interest rate tier is increasing to 3.75% APY and the second interest rate tier is increasing to 2.00% APY.
Starting November 7th, the new rate tiers will be:
If you are a client of HIGHLAND not currently using Flourish Cash, please reach out to your Advisor directly if you would like to learn more about getting access to these new rates.