Many of us experience financial stress at one point or another. Whether from unexpected bills, job insecurity, or trying to make ends meet on a tight budget, money troubles can take a toll on our mental health. Studies have shown that financial stress is one of the most common stressors people experience. And it’s not surprising when you consider how intertwined our finances are with almost every other aspect of our lives.
So, what exactly is financial stress? And what are some of the ways it can impact our mental health? Keep reading to find out.
What is Financial Stress?
Financial stress is the anxiety or worry that comes from being in a difficult financial situation. It can be caused by a sudden change in your finances, such as a job loss or medical emergency, or chronic financial problems, such as living paycheck to paycheck or struggling to pay off debt. Regardless of the cause, financial stress can affect your mental and physical health.
The Mental Health Impact of Financial Stress
One of the most common effects of financial stress is anxiety. When you’re anxious about money, you might constantly worry about how you’ll make ends meet or whether you’ll be able to afford your next bill. This can lead to sleep problems, difficulty concentrating, and even physical symptoms like headaches and stomachaches. Financial stress can also cause or worsen depression and other mental health conditions. If you’re struggling to cope with financial strain, you must reach out for help. Talk to your doctor or mental health professional about what you’re going through, and they can help you develop a plan to manage your anxiety and other symptoms.
What You Can Do About Financial Stress
Fortunately, there are things you can do to manage financial stress and improve your mental health. One of the most important things you can do is develop a healthy relationship with money. This means learning to budget, setting financial goals, and tracking your progress over time. It also means making smart decisions about credit and debt. If you’re struggling with debt, many resources are available to help you with Debt Management. You can also try relaxation techniques like yoga or meditation to help ease anxiety and promote overall well-being.
You can also consider taking on a side hustle to make extra money. There are many ways to make money from home, and you might be surprised at how much of a difference a little extra cash can make. Plus, keeping busy is always good if you are struggling with stress.
If you’re unsure where to start, several online platforms can help you find work, such as Fiverr, Upwork, and Freelancer.
Making positive changes in your financial life can be difficult, but it’s worth it. Not only will you feel better mentally and physically, but you’ll also be setting yourself up for a more secure future. Just be sure to take it one day at a time and reach out for help if you need it.
Featured image: Via Pixabay
Author: Mandy Kloppers
Mandy is a qualified therapist who treats depression, anxiety, OCD, PTSD, trauma, and many other types of mental health issues. She provides online therapy around the world for those needing support and also provides relationship counselling.
