The Ancient Link Between Money and Mental Health

“Money has never made a man happy yet, nor will it. The more a man has, the more he wants. Instead of filling a vacuum, it makes one.” states Benjamin Franklin, the famous American polymath who was active as a writer, inventor, diplomat, and political philosopher.

We all heard the phrase, “Money doesn’t buy happiness,” right? While this is valid to some extent, financial and mental health problems directly correlate in so many ways. The tie between money and mental health is much more complex than it rings. Comprehending how money impacts your mental health can help you if you are struggling. After reading our article, you may state them in your rituals or with your loved ones. Framing the issue is the first step to overcome.

Money concerns can affect your mental health drastically. Worrying about money can trigger mental problems such as anxiety, panic attack, and depression. The stress of not knowing whether you can afford this month’s rent or not is a massive stress factor. Middle and low-income families constantly go over parallel situations, and it is typical to feel devastated. According to an American Psychological Association (APA) study, around 70% of Americans feel stressed about money at least at some period in their lives. 

Going through money problems can also affect social life. Socializing with friends and family requires spending some cash. Even small events, such as being unable to grab a coffee on a lunch break with your coworkers or missing the latest X-Men, could lead to pressure and despair. 

Further, struggling with money can stop someone from acquiring the basic necessities to be well, such as medicine, health treatments, and vitamin supplements. In the case of mental health, therapy can be highly costly. Having money-related mental help issues and being unable to obtain aid from a proficient person due to financial problems is a horrific paradox to be in. 

What is the Trigger?

Thinking about money creates complex emotions. It is not constantly worrying about money, but you might feel guilty about spending money or not having enough in your bank account. You can even feel ashamed of requiring help. These are all natural reactions; feeling negative emotions towards money is entirely alright if you are struggling.

On the other side of the medallion, mental health issues are not only compelled by financial struggles. It is the exact opposite. Having mental health problems can prevent someone from managing money adequately. For example, depression can get so severe that the person might not even get out of bed for many days. While personal hygiene is hard to keep up with, it is entirely understandable to find managing money overwhelming. 

Moreover, other mental health problems can cause financial issues as well. Overspending when feeling unwell or getting addicted to shopping and impulse purchases can quickly create a dent in your bank account. Also, some personality disorders that cause extreme highs and lows are known for frequently overspending. Being in a manic attack is a common reason for overspending without thinking. Children of families that struggle financially could experience difficulty managing their finances, especially if the parents discuss their money problems in front of them. This can either create an adult that is fearsome of spending money or one that spends all they have.  

This case can reach a full circle. Having mental health problems can affect how you manage your finances, and poor finances deteriorate your mental health condition. The key here is to ask for help and find an end to this never-ending circle. 

When is it a Disorder?

Talking about mental health is not the easiest thing to accomplish. We have come a long way as a society regarding mental health visibility. In the last decade, speaking about mental health problems has become more regular, but we still have a long way to go. If you are dreading or embarrassed to ask for help from your loved ones, you can try reaching professionals. It might even be wise to join forums for people going through similar struggles as you do. 

Overall, we all know there are things in life that are more significant than money. But ignoring the importance of money in our lives is a privileged approach. Children of middle and low-income families know well that money impacts daily lives in a million small ways. Having mental and physical tribulations due to money problems is common and completely normal. And having money problems due to mental health issues is also generally predicted. 

The golden key here is being able to ask for help, whether it is from our friends, families or professionals. Getting to know your patterns, learning about your impulse decisions, and preventing them before happening is a fantastic start to resolving money problems driven by mental health problems. 

Additionally, finding ways to ease the stress of money problems is worthwhile to create a more enjoyable daily routine. Jogging, connecting with your loved ones, reading books, or a simple hobby can distract you from money-related concerns or overspending. There is a fantastic world full of amazing things out there!

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