money linked to mental health

Linking Money To Mental Health

August 21, 2020 6:34 pm Published by

Linking Money To Mental Health

Struggling with your finances can cause people to feel different emotions compared to usual. So, does this mean that your finances could be linked to your mental health? Research shows that having poor mental health can impact your motivation to do things you may usually enjoy. Therefore, earning money and working is something which could be affected. But, following this, having a lack of money due to little motivation and little earning could cause your mental health to become even worse. So, this basically proves that money and mental health fit together perfectly.

How is your mental health affected by being in debt?

Being in debt can bring stress, worry and confusions peoples lives. This is because it is full of uncertainty on whether or not you be able to escape it. In some circumstances, people may feel ashamed at the thought of being in debt. This may even prevent them from seeking professional help. Without help from a professional, debt can take a toll on your mental health for the worse.

Again, if you find yourself in debt you may experience different emotions to usual. This shows that your mental health is being affected. Most people who feel a change in emotion will also, unfortunately, begin to slowly change their actions in day to day life. This could be through lack of motivation, energy along with many other personality changes.

Experiencing debt does not necessarily mean that your mental health will be affected, as everybody copes with different things in different ways. But, if your mental health has been affected there are plenty of ways in which you can get professional help and try to get back on track.

How is debt affected by your mental health?

Those who have mental health problems have been proven to be more susceptible to finding themselves in debt, meaning they are more vulnerable when it comes to the cycle of debt.

With the difficulties which mental health brings to a person’s life, they may find it harder to keep on track with payments and upcoming bills due to the lack of motivation in their life. Therefore, finding it easier to fall into debt and harder to get out of it.

How to cope with financial worries

There are plenty of ways you can get your mental health back on track whilst getting out of debt without seeking professional help if you feel as though it is not needed. Here are some examples:

  • Find a budget which works for you
  • Try to put all of the change you have in an emergency fund
  • Work on managing your stress
  • Stick to a plan
  • Talk to somebody
  • Note your progress to look back on

If you are wanting to find more information on dealing with financial worries the Money Advice Service offers plenty of information for you to read.

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This post was written by Charlotte K

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