Financial and emotional health – understanding the relationship

Do you have financial and emotional health?

What is the relationship between one and the other. After all, does there really need to be a balance?

Certainly, a lot of problems are caused by a financially unbalanced life.

Many Americans say they are not satisfied with their finances.

That’s 42% of people who say that money or the lack of it affects their lives.

One of the most persistent problems is credit card debt, which is one of the main causes of anxiety.

As a result, there are countless individuals who no longer enjoy financial and emotional health.

American families are increasingly in debt, reaching a new record of 17.05 trillion dollars.

This is due to many factors, one of which is unfavorable economic conditions.

As a result, people are trapped and have no idea how to pay off their debts.

And debts are growing in all classes, regardless of whether they have higher or lower purchasing power.

However, the poorest still suffer the most, with rising inflation and sky-high credit card interest rates.

As well as student and car loans, mortgages and other things.

And because of this, many people’s financial health and emotional health are completely disconnected.

What is emotional health?

First, it must be said that a person with emotional health is understood to be balanced.

They are those who, even in adverse situations, manage to stay calm and deal with everyday problems in the best possible way.

This means that they are productive, that they contribute to a better society, and that even in the midst of multiple tasks, they tend to be calm.

Today, we live in a fast-paced culture of quick decisions that are not always thought through.

And many, because of stress and anxiety, end up getting into endless debt.

They lose their financial and emotional health for good.

When finances damage the mind

Financial and emotional health depend largely on organized finances.

On the other hand, we can’t and shouldn’t claim that money solves all of life’s problems.

But we do have strong evidence that a lack of money can cause many problems, such as emotional ones.

On the other hand, too much money can also be harmful, depending on how the person has learned to deal with it.

Paying bills on time, having an emergency reserve, preparing for a peaceful retirement.

This is exceptional, but we have to be realistic: not everyone succeeds.

A large proportion of people live with very shaky financial and emotional health.

In other words, when unemployment hits and the salary is gone, the bills keep coming.

Fear, lack of confidence, disagreements in the family and loss of sleep also follow.

All this can lead to mental illness, severe anxiety, anguish and all sorts of negative thoughts.

Depression and financial and emotional health

Depression is one of the main causes of disability worldwide, and by 2030 it will be in first place.

In other words, the number of people suffering from this problem is increasing.

According to the World Health Organization, 15% to 18% of people suffer from it every year.

Sadness, loss of pleasure or interest, low self-esteem, feelings of guilt, tiredness…

As well as lack of concentration, loss of appetite and sleep disturbance are the main symptoms.

Some economic and social determinants have been identified.

These include unemployment, low schooling, lower income, not being in a relationship, among others.

Balanced finances contribute to financial and emotional health, although there is little research into this.

However, some indicators suggest that there is a link, for example, between low income and depression.

People are often exposed to malnutrition, social isolation and low income.

As well as a lack of ability to cope with negative life events.

These individuals, affected by almost scarce financial resources, are much more likely to develop symptoms.

Such as depression and anxiety.

Thus, a lack of financial and emotional health affects various areas of life, such as relationships.

The person always focuses on the negative side of everything, because, after all, most of our difficulties can be solved with money.

Therefore, they blame themselves for the bad things that have happened, the lack of a job, the company that isn’t doing well.

The mismanagement of her resources and so on.

In this situation, she feels ashamed to admit that she has failed in some respects and may need to borrow money.

In this way, sadness and discouragement end up taking over their lives, and they are unable to achieve financial and emotional health.

Be alert to some symptoms

The struggle to balance financial and emotional health is not always simple, we all face challenges.

In other words, whether you’re rich or poor, difficulties will arise whether you like it or not.

There are some symptoms that alert us to mental health, which we need to be aware of.

• Complicated relationships;
• Difficulty concentrating;
• Lack of patience;
• Loss of sleep and appetite;
• Loss of interest in pleasurable activities.

It is possible that a large part of the world’s population is facing this challenge.

According to the United Nations (UN), one billion people in the world live with a mental disorder.

Excess money and financial and emotional health

On the one hand, we have the unfortunate who have to count coins all the time and are always worried about survival.

On the other hand, there are the well-off who, from an early age, don’t have to worry about anything at all.

A lack of money is bad, but too much can cause problems.

Therefore, if a person with a comfortable financial situation doesn’t have a strong foundation of values and principles.

They may put themselves in a position of superiority, not valuing people, and think that every difficulty can be solved with money.

In order to be financially and emotionally healthy, you need a balance, after all, crises come to everyone.

Otherwise, if an adverse situation occurs, such as a fall in the stock market, for example.

You won’t have the emotional maturity to cope, because you haven’t been prepared for such adversities.

Therefore, controlling finances, even for the wealthiest, is essential. We recently had a pandemic.

And most people have lost a lot or almost everything, even if they have lost their financial position.

Values and principles must always be part of a human being’s life.

So there are people who have a lot of money but live in depression, perhaps because they don’t put part of their income to a worthy purpose.

And what is that purpose so that you can have balanced financial and emotional health?

Well, charity and volunteering are healing agents, helping people in vulnerability brings many positive feelings.

They lead us to value others and to be more sensitive to the suffering of others.

Take care of yourself

Help often lies in adjusting to your new standard of living; we know it’s not always easy to balance the books.

However, in order to be financially and emotionally healthy, certain measures need to be taken.

Spending less is an important method; look at where your money is being spent.

 Therefore, try to live more modestly, with less, and take pleasure in what is simple.

Don’t think all the time about possible catastrophes that could negatively affect your finances, be positive.

Eat healthily, this will help your physical and mental health too.

On the other hand, remember that your finances don’t define you as a person.

This reduces feelings of shame, guilt and sadness.

There are some things that are beyond our control, so try not to be too hard on yourself.

So, in order to be financially and emotionally healthy, insist on self-care, look for coping strategies.

Try to think about everything you’ve experienced in the past, and keep yourself upright, and you’re sure to win again.

On the other hand, maintain friendships, do activities such as meditation, yoga and deep breathing.

Physical activity will oxygenate your brain, bringing a sense of well-being to your body and consequently good emotions.

Ask for help with your financial and emotional health

If you’re in financial or psychological difficulty, don’t hesitate to seek help.

As far as finances are concerned, there are many qualified financial managers who can help.

They will guide you with advice or assistance to reduce your difficulties, leading to a solution.

Otherwise, if you’re feeling anxious, depressed or hopeless, talk to someone close to you.

Like family and friends, and seek help from a mental health professional, don’t go it alone.

In other words, to achieve good financial and emotional health, psychological help goes a long way.

If you need it, contact our online therapy service, click here.

Finally, don’t forget that your physical and mental health need to be in harmony for a financially organized life.

Daniel 2 de May de 2024