money finances

Money woes and deteriorating mental health are often intertwined. Finding yourself in a financial hole can often lead to the onset or worsening of mental health conditions, impacting all aspects of your life, from work to hobbies to relationships.

Making sure your finances are in order goes a long way to preventing any mental health issues. This can be easier said than done, but there are lots of small steps you can make to reach this goal. Once you understand the connection, you’ll see why looking after your financial health helps your mental health.

You aren’t worried about your assets

The idea of losing your most valuable and important assets would put a strain on the calmest person. Being without a home or a car could completely change your life, and lead you down a darker road to serious mental health concerns. Sorting out our financial health can give you peace of mind that even if things go terribly wrong, your greatest investments are still secure.

Knowing that your major assets are secure and that a couple of months out of work on mental health reasoning won’t see them taken away is a great way to keep yourself in a better frame of mind, and take time away should you need to. Feel more secure day to day, safe in the knowledge you have somewhere to go after work and a way to get there.

Financial Tip: When you make your first step onto the property ladder make sure you’re finding the best mortgage broker for your financial situation. Services like Breezeful simplify the process and give you a variety of options.

You can be more sociable

Social isolation can contribute to issues with your mental health. Human beings are social creatures, and even if you are a bit of a loner, everyone appreciates some company from time to time. A lack of finances can mean you start saying no to social situations you may be interested in going to, just because you can’t afford it. Before you know it you’re alone more than you’re with people and feeling resentful.

By making yourself a bit more financially secure, you can afford to spend your evenings or weekends with friends. No more FOMO just because you haven’t been able to save. Make sure you get the chance to be around people who make you feel good.

Financial Tip: If you don’t have the finances to go out on a whim every Saturday, try and schedule your social gatherings with friends in advance. It can help you budget for the month and even encourage a couple more to come out if they know when everyone is coming. Calendar apps like Raft have been designed to make sure close friends and family stay in touch about plans.

You can take time off

When your mental health is suffering, one of the best things you can do for yourself is to take some time away from work. This can be anything from a mental health sick day to recharge and deal with the burnout, to taking a couple of months off to help work through more serious issues. Time away gives your mind a chance to reflect and start again, removed from any pressures and deadlines of work.

Unfortunately, some employers still don’t treat mental health with the same seriousness they do visible illness. They may not offer mental health days and can be reluctant to give you substantial time off to get back to your best. This may mean you need to step away from work entirely to deal with the problems properly.

Securing your financial health in advance helps this situation, as you won’t be living paycheck to paycheck. Having some savings to fall back on is a good way to make sure you get the break away from work you need. If quitting your job isn’t an option, some additional savings can help you afford an extended vacation away from everything.

Financial Tip: Make it part of your routine to set aside additional monthly savings should you feel the need to take some time away from work. Work out what you could reasonably live on and make a point of saving towards that amount.

Therapy is affordable

Your mental health can be a difficult thing to deal with alone. Sometimes you need professional support to help you through. Plunging yourself into debt to afford therapy or counseling can be an incredibly stressful situation though, and ultimately do more harm than good.

Strong financial health can help make sure you’re always in a position where you can afford to see a professional. It also gives you the option of shopping around for a specialist to deal with more specific conditions.

Financial Tip: Just like saving for time off work, it can help to create a separate savings jar for therapy. There are a number of great apps out there designed to help you save, but You Need A Budget is one of the best for living sparingly.

There’s no more worthwhile investment than your mental health. Future-proofing your wellbeing should be part of your financial plan, especially if you’ve found yourself suffering in the past. These solutions are not applicable to everyone, but try and put yourself in the best position to find some security and health in your life.