Mental health and financial stress are strongly linked. Financial stresses can add to mental health issues. Co-occurrence of these two issues is common amongst those experiencing financial hardship.
Financial safety can bring security and peace of mind. Combined with leisure time and fun activities, it can have a positive effect on wellbeing. Being able to work and pay bills regularly can ease pressure, though not everyone is able to do that.
Mental health and financial woes are related. The way we view our financial situation is what impacts our mental health. Even someone who is regularly paying off their debts may have constant feelings of mental and emotional distress around personal finances.
Some signs that financial stress is affecting your mental wellbeing include:
- Arguing with the people closest to you about money,
- Having trouble sleeping
- Feeling angry or fearful
- Mood swings
- Loss of appetite
- Withdrawing from others.
Addressing financial problems early on can reduce their impact on mental health.
Seeking the services of a Better Place Australia financial counsellor is a way to reduce financial stress.