You can literally worry yourself sick about money. With the stock market and the job market down in the dumps, many people are, too.

Medical professionals are reporting increasing levels of the kinds of behaviours and ailments that accompany high anxiety: Too much eating and drinking and arguing and worrying and too little sleeping and smiling.

The American Psychological Association says that more than 80 percent of Americans are suffering money stress, and there are increasing reports of domestic violence, violent crimes and suicides.

Many people are so worried about their finances that they can't function, and don't know what to do first. They are despondent and panicky. But in an era when the Dow Jones Industrial Average can lose — or gain — three percent in a day, maybe it doesn't make sense to make too many changes to your finances. Maybe it makes more sense to work on your feelings about your finances.

There are some concrete steps you can take to help ease the stress that hard times cause. Try these tactics.

— Define yourself broadly. Don't make the mistake of identifying too closely with your bank account balance, as many wealthy people do, or with your job, advises Steven Craig, a Birmingham, Michigan therapist. People who base their self worth on being good providers or successful business people can lose their sense of self when they lose their job. Instead, spend time thinking about all of the non-financial facets of your personality and life.

Take perverse solace in knowing that the economy is so bad that high-quality workers are losing their jobs. It's most likely not your fault.

— Face the situation squarely. Don't hide from your money troubles, identify them. That means making lists of all of your debts and bills and making a realistic assessment of your cash flow over the next few weeks and months. If there's a gap, take financial action to fix it. Even if it's not in your power to remedy the trouble quickly, start to whittle away the debt a little bit at a time. Even if your debts are so beyond your earnings that you think bankruptcy is your only viable answer, starting to define the problem is a first step towards doing something instead of worrying about it.

— Get busy. Take action to attack whatever is troubling you. If it's job woes, spend time updating your resume and reaching out to all of your contacts. If it's your budget, look for areas to trim. Spend one evening making a list of 50 ways you could fix your finances. Include everything from selling one of your cars to renting out one of your bedrooms to taking a weekend position as a driver, bed-sitter or gardener. Or refinancing into a longer, lower-payment mortgage. Or clipping coupons, eating beans and drinking water instead of juice. Or selling the extra stuff around your house on eBay or in a garage sale.

— Don't sublimate. If you're feeling angry (and, according to the experts, pretty much everyone is), don't take it out on the people you care about. Try to be nicer than usual; they are probably worried too. Don't try to banish anger by eating, drinking or driving aggressively. Identifying the real cause of your anger, talking about it and writing about it can help.

— Avoid downer people. You know who they are. The mothers who take too much joy in comparing how well their kids are doing vis a vis yours; the neighbour who always brings up that time when your car got sideswiped, the acquaintance who only wants to talk about how depressing everything is. People who spend your time and mental energy talking about how bad things are can sap the strength you'll need to fix your finances and your mood.

— Fight anxiety directly, through activities like exercise, listening to music, meditation or hobbies. Exercise, in particular, has a biochemical ability to heighten your mood.

— Have free and cheap fun. Got friends? Do a potluck dinner or a game night. You'll spend next to nothing and feel better in the morning. Go for walks, play pick-up basketball, do some creative cooking, play cards instead of watching movies. Remember when you were younger and fun was pretty close to being free. Remind yourself of how little your mood is dependent on spending money.

— Get help. You may need professional counselling to put your worries into perspective, and even a few sessions can help. If you've just lost your job and your health insurance, look for a community mental health centre near you. Many therapists offer sliding scale fees that work on a Robin Hood principle: If you can't afford to pay very much, you may be subsidised by a wealthier client.

— Get more help. You may need financial advice, too. If you're buried in debt, contact your local consumer credit counselling service at www.debtadvice.org. Don't be so quick to sign up for new services, such as debt consolidation plans or debt settlement plans. But do get an outside expert to help you figure out how to work your way back to financial stability.

— Walk away from the computer and CNBC. Money that you need within five years should not be in stocks. If it is, move it to a safer investment, even if you are selling while the market is down. Leave the rest of your portfolio alone. It will go up and it will go down, but watching it closely will only enhance the anxiety, not the earnings.