It should be no surprise that financial stress has effects beyond your bank balance. Your mental and physical health is directly related to what happens with your personal finances and any financial stress from it.
Nearly half of people who report being “financially unwell” said that they feel stress as a direct result of it. That’s in stark contrast with those whose finances are in better shape. Those with financial woes said they’re often worrying about how to deal with their money. That includes things like paying bills, credit card debt, and planning for emergencies. If you’re financially stressed, it can distract you at work and impact your personal life.
How To Tell If You’re Financially Stressed
Most of us will deal with financial trouble at some point in our lives. It could be our car breaking down or a late bill payment. Usually, this stress goes away when we get a handle on the situation. But for some of us, this stress remains a constant. Left untreated, financial stress can creep into daily life. In fact, stress in America is considered by experts to be a new mental health crisis.
Here are a few ways to see if you’re financially stressed:
How to Manage Your Financial Stress
Financial stress doesn’t start and end with your pocketbook. Often, your environment, habits, and social circle can also play a role. As you work to better your finances, focusing on these other areas of your life may also help. If you feel that you are financially stressed, we recommend the following to help you manage your stress:
Financial stress affects all of us at some point. But knowing the warning signs and techniques to address it are imperative. Your family and community might be exacerbating your stress levels. And the resources available to you may not be adequate enough to help you improve your mental health.
Most importantly, be self-aware of how your finances may be amplifying your depression or waning physical health. Start taking small steps to address your financial worries and know that it could take time to feel like you’re finally in control of your finances.
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