How finances can affect your mental health

Not since the Great Depression have so many people collectively experienced financial hardship. The Covid pandemic has locked down nations and caused people to lose their livelihoods. It is no wonder, then, that we too are seeing rising rates of depression.

There have been other studies that have also linked depression and anxiety to financial burdens. In fact, this study suggests that people with depression and anxiety are three times more likely to go into debt.

How finances can affect your mental health

It’s a Vicious Cycle

Solving any problem requires clear thinking and the ability to take action. The problem is that when financial burdens cause stress and depression in a person, he lives in an emotional state that makes it almost impossible to solve his financial problems.

For example, when people feel depressed, it’s common to also feel overwhelmed and out of control. They tend to want to avoid problems because they simply cannot bear the weight of it all.

Depression and anxiety can also make it difficult for people to sleep properly. This, in turn, creates mental fog, making it incredibly difficult to find a solution to any problem.

Talking to someone can really help

No, I’m not talking about a financial planner, I’m talking about talking to a therapist. A licensed therapist can help you find some calm in the storm. Working with a therapist often brings the kind of clarity that can help you heal from depression and anxiety and get your financial life back in order.

There is nothing to be ashamed of. Most of us, at some point (if not right now), have faced problems with our finances and felt depressed and anxious. It is a common part of life in these modern times that the economy seems to be going against us most of the time.

If you or a loved one is struggling financially and feeling stressed and overwhelmed, please contact me. I would be more than happy to help you deal with your current situation.


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