“Money Greases the wheels of life and allows problem to be more easily solved”
People often ignore that their financial condition have much impact on their mental health. Research shows that financial issues and mental health problems often go hand in hand. Researchers also found that debt is one of the major reasons for most of the individuals with mental problems.Increased stress may be the sign of poor mental health. There is no doubt that mental health and financial health are interconnected but people are often reluctant to admit the fact.
Financial problems can definitely affect emotional and mental health. Poor mental health means managing finance is harder and worrying about finance makes mental health worse.
Some Important Financial Factors having impact on mental health
1. No financial safety net in case of emergency. i.e. Emergency Fund.
2. Daily financial stresses
3. Unable to attain luxuries of life.
4. Anxiety about the future.
5. Financial crisis.
How mental health is correlated with your financial health?
1. Clearing of loans or any other liability needs lot of concentration and proper budgeting. But due to poor mental health you may avoid budgeting/planning and You may also develop an attitude of avoiding problem or facing financial crisis.
2. When you lose control over thoughts or moods you may also feel your life is out of control and financial life too. It becomes tough to think clearly.
3. Poor quality of sleep, fatigue and lack of focus are the signs of poor mental health and you will not be in right mental attitude. It causes decrease in your energy level. It may also have an adverse effect on paying of debt and financial planning.
4. There is a strong inter relationship among financial health, physical health and mental health and their effects on each others.
How to improve Mental Health?
Good life style, socialising with supportive people, good hobbies and budgeting can help your mental health. By managing stress you can manage your mental health condition and improve your quality of life.
Stress Management Technique
1. Time Management
2. Sleep Management
3. Relaxation
4. Meditation
5. Exercise
6. Laughing
7. Yoga
8. Hobbies
9. Good eating Habits
10. Psychoneurobics
In the concept of wellness mental health and financial health are interlinked with each other. So Manage your financial health by managing your mental health and manage your mental health to secure your financial health.
Dr. Amarnath
Consultant – AMKEE Education Career Guidance Centre
Director, SIGFA Solutions
Ph: 7353685241
E-Mail: amarn41@gmail.com
Whatsapp : 9108937631
