Money and Mental Health

And Their Relationship

How Money Can Impact Your Mental Health

Money and mental health are often linked. Poor mental health can make managing money harder and worrying about money can make your mental health worse.

Examples of how your mental health and your money worries might affect each other:
  • If you can't work or have to take time off work, your income may be affected
  • If you feel very 'high' during a period of mania or hypomania, this can lead to impulsive decisions about money that make sense at the time but leave you in lots of debt
  • You may spend money to make yourself feel better. Spending can give you a temporary high
  • You might feel anxious about doing things like talking on the phone, going to the bank or opening envelopes
  • You may feel forced to do a job you don't like in order to pay the bills or pay off your debt
  • You may lose the motivation to keep control of your finances
  • You might find that spending any money at all or being in debt can make you feel very anxious – even if you actually have enough money
  • Dealing with the benefits system or being in debt may make you feel stressed, anxious and worried about the future
  • You may not have enough money to spend on essentials or things to keep you well like housing, food, heating or medication
  • Money problems can affect relationships and your social life, which can have a knock-on effect on your mental health
What Can I Do to Help Myself?

Sorting things out can sometimes feel like an overwhelming task.

Try taking things one step at a time. These suggestions might help get you started.

  • Understand your behaviour
  • Talk things through with someone you trust
  • Get organised
  • Get professional advice
  • Look after yourself
1. Understand your behaviour

Your mental health can affect how you manage money in lots of different ways. Recognising those patterns can help you find solutions that work for you.

  • Think about when you spend money and why.
  • Think about what aspects of money make your mental health worse – is it talking to people, opening envelopes, confrontation or when people get things wrong? Or is it something else?
A big stressor for me is having to deal with major companies who get the bills wrong.
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