People Are Finally Talking Mental Health—Will Money Stress Be Next?

People are generally uncomfortable talking about money especially when going through financial troubles, and the same is true for mental health.

We’re taught at a young age to avoid talking about money in our family, with our friends, and with those that we love. We’re raised with this fear and without any formal education in personal finances or social support many of us suffer from money stress in silence. Recently, Londoners were asked to share some of their thoughts on money and mental health for Elle Magazine, here’s what they had to say.

‘Seeing people with lots of nice things when I know I shouldn’t be spending can actually cause heart palpitations and a feeling of dread. I do wonder, would I be in so much debt if Instagram didn’t exist?’

– Anna, 24-year-old marketing executive

Stressing about money can lead to mental health problems, and on the other side of the spectrum people already living with mental health issues are three times more likely to rack up problem debt. 

Money stress and debt problems are tied to the most common mental health conditions affecting our generation including depression, bipolar disorder, and anxiety.

‘Spending money is a thousand per cent a ramification of feeling anxious, which is why, ironically, I’m expecting a couple of packages today.’‘ 

– Maxine, 27-year-old with general anxiety disorder

Not everyone who stresses over money is living from paycheck. Even those with large amounts of saving can have distorted attitudes towards money. 

According to Ashley Agwuncha of Money Medics, it’s common to feel anxious about money even when you’re not broke. Just as our mental health can cause us to dislike our body no matter our size or health, the same is true for money. We can have money urges, worries, doubts and compulsions despite having a comfortable lifestyle.

 

Mental Health Is Wealth

Without a clear vision of what actually makes you happy, pressures to live your best life can leave your finances and mental health in a bad state. How long ago have you said yes to something you couldn’t really afford, which caused you stress?

Money stress like mental health is a taboo topic that we must do our part to destigmatize.