06 Sep 2018
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. Spending money to make yourself feel better can be seen as a temporary high which can then lead to further money problems. Here are a few other money and mental health issues relating to money. (Article from Mind)
- 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.
Dimitrous and money
A service user by the name of Dimitrous, who is having difficulty in paying his bills due to poor money management skills made a small but significant step in controlling his finances. Dimitrous who enjoys gambling had a small win. Normally Dimitrou would reinvest the winnings back in the bookies and of course, lose the money.
Seize the moment
The staff on hearing of his win suggested a different option. Dimitrous who has been looking to get a passport but needed a copy of his birth certificate to do this suggested that he use some of the money to get this sorted. Dimitrous took this small step with the help of the staff to apply for his birth certificate. Feeling good about his first steps in obtaining his passport the staff then suggested that he sort out an outstanding electric bill he had. Dimitrous agreed and the bill was cleared. Without the input of staff suggesting a positive use for the money, Dimitrous would have continued the poor use of money. Dimitrous feels empowered by his choice of taking control of his finances.