12 Oct How Money Affects Your Mental Health
It is not a surprise when we talk about how money affects your mental health. The tension that lack of money creates is unmistakable. This article is about financial stress and how money affects your mental health.
How Money Affects Your Mental Health
Let’s face it, ladies and gentlemen, when we are broke, there is a high tendency that depression will quickly kick in. And that is totally normal. So many things can affect our mental health, and money is one of them. Money is a huge factor because the case of lack of money has many contributing factors to the mental well-being of a man. These factors include stress, anxiety, confusion, anger, and sadness.
In this article, we will discuss ways to cope with financial stress and still be sane in this economy. But first, let us dissect the main issue.
What is Financial Stress?
Financial stress is emotional distress that arises due to a lack of money. If you are experiencing this stress, you need to know that you are not alone in this situation. Currently, so many people are under the same financial stress, and if they can find a way to overcome it, we believe you can also. It is important to note that money troubles can affect just anyone. It can affect your mental and physical health, relationship with others, and overall quality of life. It can also affect your sleep, self-esteem, and energy level.
Some of the emotions you may experience during this period include anger, fear, embarrassment, tension, pain, mood swings, anxiety, and even depression. These feelings may cause one to develop unhealthy lifestyles like drinking, smoking, gambling, and if push comes to shove, suicide. Nevertheless, you can resolve these issues and take back control of your life.
Effects Of Financial Stress
● Lack of sleep
● Weight gain or loss
● Social withdrawal
● Relationship issues
● Physical ailments such as headaches, gastrointestinal problems, diabetes, high blood pressure, and heart disease.
How To Deal With Financial Stress
There are different ways to tackle this issue, and we will discuss such ways briefly.
1. The first way to deal with financial stress is to talk to someone. Unfortunately, many people love to bottle up their financial problems and try to solve them alone. This doesn’t lead to any solution. In this present economy, you will notice that more than one person is going through a financial crisis, and they may have a better understanding of your situation and may even profer more appropriate solutions. Also, when you air out your problems, it goes a long way in helping you get alternative perspectives.
Remember, the person you are talking to doesn’t have to be the one to solve your problems; he only needs to be able to listen to you without judgment.
2. Another sure way of managing financial stress is by getting professional help. There are a few organisations that offer professional support on how to cope with financial stress. Even though you have talked to a friend, it is still advisable to consult an expert. And reaching out to someone is not a sign of weakness. It shows that you are wise enough to seek help.
3. Keeping track of your expenses and income is another way to deal with financial stress. No matter how much your brain tries to convince you that leaving your bills unopened will help you deal with this stress, we advise that you fight against it. Otherwise, when you open those bills eventually, the overwhelming feeling may lead to heart attack and possible death. We advise getting an app that will help you track your income and show you how to spend it.
4. When you eventually get a good plan on how to handle your finances, you must stick to it. After you must have tracked your spending and earnings, you will know the financial state that you are in and the number of things you need to cut back on. The level of effectiveness that you will achieve with this will determine how well you plan your financial calendar.
5. To do this effectively, we advise creating a financial budget and prioritizing your spending.
6. The last step is to manage your stress by getting enough sleep, practising relaxing techniques, eating healthy, and being grateful for the little things in life.
Written by Daramfon Etim
Reviewer/Editor: Chinyere Nwosu