Did you know that finances and mental health impact each other? It’s true. Financial stress is real, and it affects people almost every day. One of the known “side effects” of struggling with our mental health is not staying on top of our finances – overspending, not paying bills on time and the like. This can create more financial stress, causing more mental health issues, sending us into a dangerous cycle.
May is Mental Health Awareness Month. Financial stress is one of the leading causes of anxiety and depression in the United States. According to the American Psychological Association, 65% of adults say money is a significant source of stress.
Having control over your money, a lack of emergency savings, or an unstable financial life are just a few causes of financial stress.
Learning how to save your money can not only help your financial goals, but also your mental health. Here’s how:
- Reduced anxiety
- Improved sleep
- Better relationships
- Increased confidence
You can learn more about how financial wellness supports your mental wellbeing on the America Saves website.