Something is shifting in therapists’ offices across the country. Patients are coming in talking about money, but that’s not where the conversations are ending. Dr. Marverly Pierson, PhD, a psychologist and wellness leader, says what’s actually surfacing in sessions right now is far more revealing than any economic headline.
“From what I’m seeing in session, this isn’t just about money,” she said. “People may come in talking about the economy, job security, rising costs, uncertainty. However it doesn’t take long to realize that’s just the surface.”
What lies beneath, Pierson explained, is far more complex and personal.
The real question people are asking isn’t financial
When patients arrive talking about finances, Pierson noted, the numbers are rarely the actual issue. “Underneath it, we’re talking about safety, identity, and fear of collapse,” she said. “For many, it taps into earlier experiences of instability. The real question becomes: ‘Am I going to be okay?’ — not just financially, but psychologically.”
This makes the current climate feel meaningfully different from previous economic downturns. Pierson, who has worked with patients through earlier periods of financial turbulence, observed that today’s anxiety has taken on a different character than what emerged during the 2008 financial crisis. “In 2008, the fear was acute and event driven,” she explained. “Now it’s more chronic and ambiguous. People are functioning, but with a constant undercurrent of uncertainty. It’s less panic and more erosion, often amplified by social comparison and pressure to appear stable.”
Why high-functioning people are quietly unraveling
One of the more striking phenomena Pierson described is how severely affected many outwardly successful people are. “They’re functioning outwardly, but internally they’re depleted — poor sleep, difficulty concentrating, constant low-level anxiety,” she shared. “These are often the patients who feel confused by their own distress.”
She pointed to what she called a kind of quiet paralysis taking hold across many of her sessions. “People are staying in situations that aren’t working, both professionally and personally, because the fear of making the wrong move feels too high right now,” Pierson said. “It gets framed as being cautious, but clinically it often looks more like anxiety tightening its grip.”
Alongside the paralysis, she identified a layer of grief that often goes unnamed. “Even in high-functioning individuals, there’s a sense that something has shifted — a loss of momentum, or the belief that if you do the right things, things will work out. That loss can be disorienting.”
The secondary emotional toll: shame, identity, and broken trust
Beyond the surface-level worry, Pierson highlighted several secondary emotional issues showing up consistently in her practice. “Shame, identity disruption, and relationship strain are showing up consistently,” she said. “When worth is tied to productivity or financial success, even the possibility of disruption can feel like personal failure. The emotional impact often outweighs the financial reality.”
Prolonged uncertainty, she added, does something specific to a person’s psychological architecture. “Prolonged economic uncertainty chips away at our sense of control,” Pierson continued. “People either over-control or shut down. This shows up as indecision, irritability, and reduced tolerance for stress in everyday life.”
For those already managing existing mental health conditions, economic stress acts as an accelerant. “Anxiety, depression, obsessive thinking, and substance use are all being exacerbated. Stress lowers the threshold for existing vulnerabilities to resurface.”
How money is quietly destroying relationships
The relational damage of economic stress is something Pierson returned to more than once. Couples, she observed, are struggling but rarely for the reasons they think. “Couples rarely fight about money itself — they’re actually fighting about what it represents,” she said. “Control, security, trust. One partner may become more controlling, the other avoidant. Underneath it is fear expressed in different ways.”
Understanding that dynamic, she suggested, is often the entry point for real progress in couples work during financially stressful periods.
How to know when financial stress has crossed a line
Not all money-related anxiety warrants clinical concern, and Pierson offered a clear framework for distinguishing between the two. “Normal stress is situational,” she explained. “When it starts impacting sleep, relationships, identity, or daily functioning, it’s moved into something that deserves attention and support.”
The internal landscape matters as much as external circumstances, she emphasized. “What intensifies it is when it intersects with someone’s internal landscape — their history, their coping patterns, their sense of control,” Pierson shared. “That’s where the real work tends to begin.”
The distress is real, and it deserves real support
What Pierson wants people to understand most is that what they’re feeling makes complete sense. The anxiety, the paralysis, the unnamed grief are not signs of weakness, and none of it is imaginary. It is a rational response to circumstances that are genuinely uncertain.
But understanding that, she emphasized, is only the beginning. When economic stress starts touching sleep, relationships, identity, or daily functioning, it has moved beyond something to simply push through. “The emotional impact often outweighs the financial reality,” Pierson pointed out, and that is precisely when working with a licensed therapist or psychologist makes all the difference.
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About Our Expert: Dr. Marverly Pierson, PhD, is a psychologist, wellness leader, and CEO of Binger Labs, known for her integrative approach to mental health, physical fitness, and holistic well-being. Grounded in the belief that true wellness lies in the connection between mind, body, and spirit, she also founded Do It Now, an inclusive fitness platform.
Please note: Robin Raven is a journalist covering health and medicine. This article is for informational purposes only and does not constitute medical or psychological advice. If you are struggling with anxiety, depression, or stress and are looking for affordable mental health support,Open Path Collective,Psychology Today’s therapist finder, and theSAMHSA National Helpline (1-800-662-4357) offer accessible options at a range of price points.