October 15, 2020

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This year has been a difficult one for many. Where there is economic instability, money worries inevitably bubble to the surface. 

There is an undeniable link between financial stress and mental health. Money worries are some of the biggest triggers for depression and anxiety. That's why it is so important to find coping strategies.

#1: Talk to Others

You could feel stressed out about...

  • your latest bills
  • a mountain of debt
  • your partner's lost job
  • not knowing if you can make ends meet

Regardless of what it is, it's important to talk to someone about the situation and how you are feeling.

A problem shared is a problem halved. Even if you don't get some kind of windfall, you will feel so much better by just talking. 

If you don't want to talk to anyone in your family or friend group, there are plenty of other people out there for you to speak to that are impartial: financial planners, coaches, and therapists. 

Many mental health professionals can help and intervene if you find that your money worries are affecting other parts of your life. Remember, mental health and money worries go hand-in-hand.

You can even join programs like the DTSS review and Dave Ramsey's Financial Peace University. These programs help individuals successfully become debt-free.

#2: Focus on the Positives

There's a big benefit to focusing on the good in any situation—and that includes finances.

While it won't make all of your problems go away, thinking positively will help you calm down, feel less anxious, and put you in a better headspace that will ultimately allow you to deal with your problems head-on.

And by actively dealing with your money worries, you will be well on your way to tackling them sooner rather than later.

Being optimistic can also help you recognize your strengths. You can then channel those strengths into your finances. You can find solutions and set up safety barriers like emergency funds so that it doesn't happen again.

Even when you're low on money and things feel like they're closing in, just taking those few moments to breathe and focus on the fact that you are being proactive can really help you refocus and stay calm.

#3: Stop Comparing

Sometimes it feels like social media is everywhere. Impossible to escape from. And being constantly bombarded by photos of your friend's latest adventures won't do much for your mental health if you are struggling financially.

What's important to remember is that what goes up on social media is only people's highlights. It's not always real.

Just because someone seems to be constantly spending money on the latest clothes and gadgets doesn't mean they're not actually stuck in a cycle of constant debt. They could be struggling to keep up appearances.

As humans, we love to compare and look to others to measure ourselves, our success, and our failures. This is not healthy and can cause a significant downward mental health spiral.

Next time you are on social media, comparing and despairing, remind yourself that everyone is on a different journey with a different timeline.

You don't know what their finances look like. And even if they are on track, you haven't seen all the hard work and sacrifices they've put in to achieve it.

It can take ten + years to be an overnight success.

If you still find that social media has a firm and negative hold over you, deactivate your accounts for a little while until you can gain some perspective, and feel more positive. 

This is a Partnered Post.

About the author 


Life & mindset coach, writer, host of podcast This is Type 1: Real Life with Type 1 Diabetes, and full-time analyst in the power industry. I'm passionate about showing people that how we think determines our realities.

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