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Tips and Advice for Getting Through Money Worries Without Sacrificing Your Mental Health
There has been a lot of research carried out to find out more about the effect that our financial situation has on our mental health. As you can probably imagine, dealing with money problems can lead to a significant decline in mental health.
But that’s not all, though. Those who are diagnosed with mental health issues will be a lot more likely to fall upon hard times financially, even if they were in a good situation before their health condition developed. That’s because mental health can greatly affect how well we are able to work, and some people end up leaving their career to focus on their recuperation.
So, how are you meant to watch your finances while you are also trying to cope with a mental health problem? Especially when you have a family to care for? Here are some tips that should help you make this easier to get through.
A Local Authority’s perspective of #RecoverySpace – @markybt & Lee Osbourne explain how extending Breathing Space to people in crisis could help local authorities to support people with #mentalhealth problems https://t.co/mpCjCeZSbk pic.twitter.com/lVHRdBD1yQ
— Money&MentalHealth (@mmhpi) March 2, 2018
First of all, you should try and remain as active as possible in your life. It can be all too easy to feel really stressed and down because of your money worries, and this could lead to you wanting to stay home all the time. But that just means you will end up dwelling on your worries and fears, and it could worsen your mental health. So, if possible, try and see your friends and family regularly and keep up with your hobbies and pastimes. If you don’t have a reason to leave the house one day, you should still try and get out for a walk to get some fresh air. Maybe even go ahead and set some fitness goals for yourself without spending any money.
Reach Out To Financial Professionals For Advice
If you aren’t too sure about the best way you can tackle your financial issues, you might want to get in touch with some financial professionals For instance, you could contact a financial advisor or arrange a meeting with your bank manager. These will be able to give you tips on the best credit cards to build credit, how you can start paying off your debt, and any other burning issues that you might have.
You might also want to ask any friends or relatives how they dealt with their situation if they were recently in a similar position to you.
And my best advice is still to head to the Dave Ramsey website.
Face Your Debts Head On
It can be tempting to procrastinate when it comes to paying off debt. Some people think it is best to leave it until they are in a better financial position to start paying back what they owe. But that’s not a good way to think, as you could end up putting it off for a long time. The longer you wait, the more interest could be added onto the debt, which will make the amount you repay even higher. So, don’t delay and start paying it off, even if it just a small amount each month.
Don’t Rely On Alcohol
Whatever you do, and no matter how bad things get, you should never rely on alcohol to ease your stress. Self-medicating stress with alcohol could lead you down a slippery slope to alcohol addiction.
Practice Free Self Care
Self care doesn’t have to cost anything. Several of the ideas mentioned above will do the trick, but also think about things to look within. Journal in an old notebook you already have. Do morning affirmations about money to start shifting your energies to become more financially responsible. Do some yoga videos on Youtube. Check out some self-help books from the local library. There are many ways to reduce the stress of the situation without reverting to harmful self-medicating.
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