May is Mental Health Awareness Month
4 ways mental health and personal finance relate
Welcome to the newsletter for Freedom Life Therapy and Wellness, LLC.
May is mental health awareness month and a lot of the times we forget how much money and mental health can relate. Here are 4 ways mental health and personal finance relate:
Overspending: People with anxiety or depression may overspend as a way to cope with their feelings. This can lead to debt and financial problems.
Impulsive spending: People with impulse control problems may be more likely to spend money impulsively, even if they don’t have money to spare. Impulsivity can be underlying ADHD or bipolar symptoms. It is important to meet with a mental health professional when this occurs.
Social Isolation: When people are struggling with financial problems, they may withdraw from social activities and relationships. This could lead to feelings of loneliness and isolation.
Physical Health Problems: Stress and anxiety can lead to physical health problems, such as headaches, stomach pain, and high blood pressure. It’s important to see a medical doctor first to clear you and then see if your physical response is stress or anxiety.
Seek professional help if you need it. There is no shame in seeking professional help if you are struggling with your mental health or finances. A financial therapist can help you develop coping mechanisms and strategies for improving your situation.
What is next with Freedom Life Therapy and Wellness:
We are preparing to conduct a workshop for therapist on “Money Stories: Understanding our clients emotional and behavioral habits around money.” This workshop is being held at the NASW - CT conference.
LaQueshia as interviewed in a recent publication, check it out here.
LaQueshia Clemons, LCSW, AFC
Financial Therapist