When it comes to the connection between finances and mental health, you may feel that getting a handle on your money is simply too overwhelming to attempt. It may feel as though you have no control over the situation, but the key is to begin addressing your issues in a gradual and deliberate way. A debt consolidation loan can help you to take control of your finances, making it easier to manage.
First, try to make connections between financial concerns and your state of mind. Take note of your spending habits and how hour actions impact your overall mood. This is a useful place to begin, because it offers you an opportunity to identify areas that are ripe for change.
Carefully consider how you spend, when you save, and what your triggers are. Assess which money management tasks seem to cause you the most stress. Perhaps you are averse to opening your mail, keeping appointments, following up with creditors, or making mistakes. Consider maintaining a journal of when you spend money and how that makes you feel. Jot down what was purchased and why. Write about your feelings before making spending decisions and afterward so you can start noticing patterns in your behavior. Once you have a better grasp of your own habits, you can start developing better coping strategies. Even having a general awareness of your own tendencies can provide you with a sense of greater control.
Some common ways in which mental wellness and money intersect are:
Certain kinds of scenarios tend to produce anxious or panicky feelings. Speaking to people at a financial institution, reading mail, or attending an informational meeting about your benefits can be frightening for you. Alternatively you may be concerned about making a big expenditure, even if you have sufficient funds to cover it.
If depression is something with which you are contending, you might not feel the impulse to keep your finances in check. You may feel discouraged from even making an attempt.
If you tend to feel a rush while shopping, you might end up overspending as a means to compensate for other issues in your life. Impulsive decisions of this sort can lead to a greater loss of control.
Suffering from mental health concerns that are impacting your work or school life can lead to undesirable financial outcomes as well. Existing debt can lead to stress if its size or scope feels insurmountable.
Money woes can cause insomnia that has negative ripple effects in the rest of your affairs. Social isolation and loneliness can result from financial concerns as well, so staying on top of financial issues is essential to overall mental health.
