Tips For How to Deal With Financial Stress & Mental Health
Dealing with financial stress is a shared experience for most people, whether it’s managing your daily expenses or planning for the future. Budgeting, managing debt, and coming up against unexpected costs can culminate in you feeling overwhelmed at any time of the year, but it’s particularly common around holiday seasons.
When financial stress sets in, it can start a negative domino effect on other areas of your life, as well. This can lead to difficulty sleeping, elevated blood pressure, and a general decline in your mental well-being. Learning about the connection between financial stress and mental health will help you implement strategies to keep your cortisol levels at bay and even potentially become more efficient in your planning.
Today, we’re discussing how to deal with financial stress to protect and improve your mental health. Learn about the connection between financial stress and mental health plus tips you can use to get yourself back on track and into a better state of mind. Taking care of your mental health while handling financial stress is a form of self-care you can’t afford to live without.
Financial stress is extra common around the holiday season. Read our guide to managing stress during the holidays for additional tips on how to keep yourself calm and collected this year.
Connection Between Financial Stress and Mental Health
It’s no secret that financial stress and mental health are intertwined. In fact, 42% of adults in the United States report financial stress negatively impacts their mental health1. This kind of stress can lead to an increase in absences at work, anxiety, depression, burnout, or a sense of feeling constantly overwhelmed. Even if you’re not worried about how to make ends meet, the constant barrage of bills and expenses can be enough to increase financial stress and take a toll.
The connection between financial stress and mental health doesn’t stop with how you feel inside, either. Your mental health has a direct impact on your physical well-being. When you’re in a state of elevated stress for prolonged periods of time, your blood pressure may become elevated, you could develop a tension headache or migraine, and you may be at risk for more serious conditions like a heart attack or stroke.
Outside of your immediate mental and physical health, dealing with financial stress over time can have a lasting impact on your self-esteem. If things feel helpless, you might be less inclined to seek help or feel like there’s a positive path forward. Learning how to deal with financial stress in a healthy, effective manner will get you back to a happier, healthier lifestyle.
Feeling the effects of financial stress manifesting as burnout? Check out our guide on how to fix burnout after this article to learn more.
How to Deal With Financial Stress and Find Relief
Managing financial stress isn’t just about fixing your budget. It’s also about creating a positive environment for your mental health so that you feel better as you handle financial situations. The first step in learning how to deal with financial stress in a healthier manner is to set yourself up for success. That means implementing strategies and self-care routines to support yourself as you’re managing bills or expenses, and planning for your financial future.
Consider these methods for dealing with financial stress in a better way:
- Start simple with budgeting
- Create a stress-free space for handling finances
- Prioritize mental health against financial stress
- Practice stress management techniques
- Get help from financial professionals
1. Start Simple with Budgeting
Financial stress and mental health can both be supported by starting simple. It’s easy to feel overwhelmed when you’re looking at your finances, but breaking things down into more manageable tasks for budgeting is both smart and efficient. Start by tracking your expenses and seeing areas of opportunity where you can cut back without altering your lifestyle to any uncomfortable degree. This helps you create a budget that works with you, not against you, and will feel like less of a chore.
When you simplify your approach to budgeting and make small changes over time instead of major upheavals all at once, you’re reducing your financial stress in a way that’s sustainable in the long term. It will give you a better feeling of control over everything, which will boost your mental health and ease anxiety that comes with financial uncertainty.
2. Create a Stress-Free Space for Handling Finances
Learning how to deal with financial stress and improve mental health also hinges on your environment. A chaotic space is only going to amplify the effects of financial stress and put you in a worse headspace. Instead, consider creating a dedicated space where you focus on financial management without distractions or clutter. You may be surprised to see that your environment becomes a direct reflection of how you manage your tasks.
Part of making the ideal space for managing financial stress means taking care of your mind and body. Adding a zero gravity chair to your space is a solution that provides physical support while giving you a comfortable place to unwind and recenter your mind. Reclining in the zero gravity position alleviates excess pressure on your lower back, lessening physical pain as well as deepening your relaxation. The zero gravity sleep position can also help you rest for shorter periods and stay energized throughout the day.
3. Prioritize Mental Health Against Financial Stress
It’s not uncommon for financial stress to trigger negative feelings and thoughts. What’s important is you find methods for how to deal with financial stress in a way that prioritizes mental health against it. Thinking about worst-case scenarios or wondering if your situation will improve isn’t productive. It can keep you in the same self-feeding negative cycle that produces anxiety and could lead to depression.
Since financial stress and mental health are so often linked, taking time for self-care during more challenging times is effective and beneficial. This can be anything from going for a walk or practicing yoga, to sitting back in your zero gravity chair and using features like massage and heat therapy to unwind. It’s all about learning how to relax and recharge in ways that work best for you. Being more calm and collected will amplify your ability to problem solve and come up with solutions to any financial stress you’re experiencing.
4. Practice Stress Management Techniques
When it comes to dealing with financial stress, there are techniques you can apply to lower your cortisol levels naturally and get back to a clearer mind. Managing stress levels is about controlling your reactions to the catalysts around you. Things like mindfulness meditation and deep breathing techniques help reduce anxiety and bring your back to focusing on the moment instead of losing yourself in worry about future uncertainties.
Outside of things like zero gravity meditation in your favorite recliner or keeping active, you can also incorporate stress management techniques like setting time limits for working with your finances. Breaking down your interactions into smaller, more manageable periods will help lessen the feelings of being overwhelmed by financial stress so you can see things more clearly.
5. Seek Help from Financial Professionals
When financial stress becomes too overwhelming, it may also benefit you to seek the assistance of financial professionals. You don’t have to handle everything on your own. Financial professionals may be able to provide you with new solutions, better insights, or clearer understandings of your situation to make a plan moving forward.
Working with a professional also helps minimize financial stress by reducing the mental load of navigating your money matters on your own. Their assistance will streamline the process, making it feel more organized and reducing feelings of chaos along the way.
Start Managing Your Financial Stress for Better Mental Health
Financial stress may feel inevitable, but it doesn’t have to control your life. By taking steps to prioritize your mental health, create a stress-free environment, and integrate mindful practices into your routine, you can start to mitigate the overall impact of any financial challenges you’re facing. Managing financial stress is crucial to creating a clear path forward. You’re not just setting yourself up financially, but for an overall better mental state of being.
Disclaimer: This content is not medical advice. Please consult with your healthcare professional when considering implementing changes to your health or workout routines to ensure it’s compatible with your needs.
Additional Sources:
- https://www.tiaa.org/public/institute/about/news/tiaa-institute-report-finds-ties-between-financial-stress-and-mental-health
