Is Mental Health A Barrier to Your Financial Wellness?
Nov 23, 2022
Do you feel stressed talking about money?
Do you feel frustrated dealing with your finances?
Do you know….."The American Psychological Association reported that 7 out of every 10 Americans felt stressed about money at some point of their lifetime"?
And even the slightest decline in mental health can increase your financial stress. Financial stress can lead to poorer mental health. This cycle is never ending so before you find yourself trapped in this, seek professional help.
People with mental health challenges find it difficult to stick to a budget, it's hard for them to pay their bills and manage their debt.
Depression makes it difficult for anyone to keep track of the money, they often make unwise decisions with their spendings.
Severe mental health problems like dementia makes it impossible to make financial decisions.
In a survey conducted, it found that depressed people with anxiety issues are three times more likely to be in debt.
What's more surprising? Even link between debt and suicide was found.
Mental health challenges can make it harder to control your finances. Here's WHY?
Missing pieces of life
When you are losing over your thoughts, your mood…everything seems to fall in the wrong place. You lose hope in life, forget about savings and long term investment. Life feels as if it's getting out of your control...same with your finances.
Temporary relief
When life is hard, we tend to focus more on short term happiness. We sacrifice our long term happiness over temporary ones. We buy expensive stuff for temporary pleasures. We buy us anything to get ourselves out of the pain.
Do you find yourself shopping out of the budget?
Compensating Low self-esteem
We purchase branded clothes, luxury items to satisfy our esteem. We feel worse about ourselves so we buy branded watches, perfume and end up overcompensating.
When feeling so low, sitting down to create a budget is the last thing you wanna do, it also creates high anxiety.
It's so hurtful to face the facts.
Avoiding financial problems and buying luxurious stuff when you aren’t feeling your best is normal.
We don't want you to freak out. What we want you to do is sign up for our first live+virtual event series.
Battling finances unequipped
When your mental health is declining, it's really hard to manage grocery bills and think about retirement funds. But that doesn't make it less important. Do they?
Planning, deciding, and organizing finances may feel like a battle you are fighting unarmed. We want to help you in planning, deciding, and sticking to a budget.
I invite you to check out The Career Mompreneur Financial Coaching Plans and SUBSCRIBE TODAY so we can help you get on track.
๐๐ปFor a full customized financial plan and coaching sessions make sure you sign up for the Gold Membership Plan.
๐๐ปWhether individual or business...if you are looking for maximum help in financial planning for your business & personal finances make sure you check out our Platinum Membership Plan specifically tailored for your needs.
๐๐ปHere, we will help you to battle your finances and make sure you are not alone in this journey as a bonus in our Gold & Platinum Membership plan you are able to receive access to financial coaching, webinars,on demand financial calculators, blogs plus more. We will find a budget that truly works for you.โจ
In research conducted by CompareCard³, it was stated that 7 out of 10 Americans cried about money in their lives.
What's more surprising?๐ฑ
57 percent of Americans did so within the past year.
It's time to get out of your comfort zone and make some serious financial decisions. The month of May is mental health awareness month.
The Career Mompreneur, CEO/Founder Denise Ochigbo in partnership with Purple Path CEO/Founder Dr. Shaniqua Jones will be Breaking The Silence: Mental & Financial Health Series.
I’m honored to join Dr. Shaniqua Jones, CEO/Founder of Purple Paths and Denise Ochigbo, CEO/Founder of The Career Mompreneur as we explore ways we can dismantle poverty in every sense of the word in order to live the abundant life God promised us! I’m a living witness.
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