Being rich is having money; being wealthy is having time.
-Margaret Bonanno
It’s always been interesting to me how finances impact mental health. I’m often checking in with clients around how they are doing physically, mentally, emotionally and even spiritually. But I feel like checking in financially is super important too. For most of us, this ends up being the amount of money we need in the bank to feel safe and secure. I’ve also noticed that if you’re in a relationship, this amount is often different from your partner’s amount, which can make for some interesting conversations (and disagreements), especially if you have joint finances.
Let’s start with some ways that financial stressors can negatively impact mental health: Financial stressors can bring:
- Heightened anxiety and fear about the future
- Increased arguments, anger and disagreements with your partner
- Sadness that you’re not in a better place financially
- Envy and jealousy around what others are able to do that you’re not able to afford at this time
- Grief and loss around where you through your life would be at this point in time
- Frustration around not being able to do all the things you’d like to do
- Instability around not having money to pay bills, save for the future, etc.
- A different SES (Socio Economic Status) than your partner, if they make more money and your finances are separate from one another
- Not looking forward to the future if you’re unable to afford the things you’d like to be able to do and see
- Not being able to financially support great causes (although you can often still donate your time!)
What else would you add here?
Financial stability can also positively impact your mental health by bringing:
- More inner peace and calm into your life
- More emotional connection with you partner
- Happiness that you’re in a good place financially
- Freedom to use your money in a fulfilling and intentional way
- Contentment around being where you’d hoped to be (or even better than where you’d hope to be!) at this point in your life
- Being able to pick and choose what you want to do and see
- Being able to pay your bills as they come in, and also save money for the future
- High SES, with or without a partner
- Feelings of excitement and joy for the future and what’s to come
- Financial contributions to causes that are close to your heart
What else would you add to this list?
Let’s end with some totally free self-care ideas:
- Go for a walk
- Do some yoga stretches
- Do a quiet meditation
- Focus on mindfulness and your five senses. Be in the present moment, and be where your feet are!
- Emotionally connect with your loved ones
- Tighten and release your muscles
- Look at the stars
- Read- borrow a book or magazine from the library
- Sleep in
- Snuggle with your pet
- Tidy up your space- organization can help with mental clarity. Added bonus if you find some things to donate to a local charity!
- Come up with a great mantra. One of my favorite money mantras that I stole from a dear friend is, “money comes, money goes.”
What are some of your favorite and free self-care routines? Anything I forgot that you’d add to this list?
Financial stressors are hard for all of us to navigate. Also keep in mind that major life transitions like getting married, moving, having a baby, etc. tend to disrupt our financial security as well. If you’re currently struggling financially, know that you’re not alone, and that most of us have been there too. I’m sending lots of love and support your way as you move towards financial freedom and what that looks like and entails in your own life.
