The Relationship Between Personal Finance, Mental Health and Wellness

Financial management is not commonly associated with personal wellbeing, yet the two are inextricably linked. We might consider the health of our bank balances as something entirely separate from our physical and mental health. We might tell ourselves that the amount of money we have (or do not have) has little to no bearing on how we feel day to day. In fact, our financial circumstances have more impact than we might first realise.

Anyone who has ever shared thoughts along the lines of “money doesn’t make you happy” has possibly never been in dire financial difficulty at any time. The stress and anxiety of not having enough money to pay bills or debts are agonising. It can trigger short and long term mental health problems. It can also lead to relationship difficulties depending on the severity and longevity of the situation.

Money is integral to daily life.

Finance is undeniably a significant part of our lives. No matter our relationship with finance, we cannot avoid its presence within our daily existence. From keeping a roof over our head to ordering a coffee on the way to work, we need money to participate in modern life. When our relationship with money becomes negative or toxic, it can affect our emotional balance and sense of confidence.

Much of our association with money connects back to how it was first introduced to us. We each have unique interpretations of finance depending on our childhood upbringing and our previous experiences. If we grew up in a household of affluence, we might expect the same standards later on. Being raised in a family that fought against waves of debt might implicate a fear of spending or an irrational impulse to overspend.

Dealing with money stress.

The key to overcoming financial stress is to face our relationship with money straight on. We must embrace our feelings about finance to acknowledge their validity within ourselves. There is no ‘wrong’ or ‘right way to go about doing this. The important thing is to set aside quality time to consider each behaviour and response that triggers when handling money tasks. Honest and limitless reflection is what will lead to profound growth and authentic progress.

Money is not something to fear—even when debt or financial crisis might occur. Hiding from financial issues leads to more problems than it solves. Particularly in the case of unpaid money borrowing, a minor problem that is ignored only leads to significant problems later down the line. It is entirely possible to shift our perspectives to become much more positive to ease stress and redefine negative associations.

Here are some simply positive practices to build a happier, healthier relationship with finance:

Positive repetition.

Building healthy money habits into daily life will reduce your stress levels and help you achieve a healthier sense of personal wellness. Try writing out some positive affirmation statements to get your mindset in the right place. You could start with, “I am financially able and in control’ or, “I can overcome any challenge I am faced with”, or, “I will attract the financial opportunities I need to thrive”. Place each of these statements in a place you will regularly see them, such as a bathroom mirror or fridge door. You could even save one as your desktop or smartphone screen background!

Honesty practice.

Avoiding money handling creates more problems than it solves. You might feel tempted to push bills and statements to the back of a drawer, but they will not stop being present within your consciousness. There are a variety of banking apps and financial management apps that can be incredibly useful (and often cost-free) resources. Make a habit of checking your bank accounts once a day so that you stay up to date with all of your incomings and outgoings. The more you do this, the less intimidating it will become.

Conscious mindfulness.

By improving your emotional health, you will achieve a much greater sense of personal wellbeing. Whether it is meditation, stress-relieving exercise, social time with friends or spending time in the great outdoors—find uplifting ways to release any built-up pressure. From a calmer perspective, you will feel more capable of accomplishing daily financial management tasks and make better choices for your future. The proper perspective will make money handling a truly positive part of your life.

Getting the right support.

If you are struggling to get a hold of your emotions with money, then this needs to be addressed sooner rather than later. You deserve to enjoy a positive relationship with your finances and a healthy sense of wellness within yourself also. If money worries seriously affect your emotional balance and sense of peace, this needs to be addressed. Thankfully, there are many sources of help available to you.

Professional financial advisers can explain more efficient methods of strategy and organisation that you may not have been aware of previously. Expert professionals can simplify financial handling to make any process feel more manageable for you. Such leadership can feel empowering to someone who might previously have struggled to cope with their financial situation.

You might also benefit from a course of therapy from a qualified mental health professional or personal motivation expert. You will be able to realign your associations with money to help you build an enjoyable relationship with economic handling. It is not a weakness to seek help when you need it. In fact—it is an incredible sign of individual strength and personal awareness.

So what’s the takeaway?

Seek the help of a financial professional to help your finances to become a healthy part of your mind and body wellbeing. Your future self—and bank account—will be very glad that you did!