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Money and Mental Health: Thrive Financially and Emotionally

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May is Mental Health Awareness month

Questions to ask yourself to recognize spending patterns

  • How do you feel when you make a purchase? 
  • What feelings do you experience when you need to make a big purchase?
  • Are there moments in time where you’re more likely to spend money?
  • Are there moments in time when you’re less likely to spend money?
  • How comfortable do you feel talking about money?
  • How often do you check your bank account? How does it make you feel?
  • What aspects of coping with money and mental health make things worse? (i.e., opening a bill in the mail, online banking, paying rent every month)

Tips to reduce the impact of financial stress on your mental health

  1. Make one decision at a time.
  2. Create (and stick to) a budget/ spending plan
  3. Monitor your spending.
  4. Pinpoint your financial stressors.
  5. Recognize the emotions you feel related to money.
  6. Implement healthy coping mechanisms into your mental fitness plan.
  7. Seek the support of a coach.
  8. Talk to a trained mental health professional.

If you’re living with a mental health condition, feeling symptoms of mental illness for the first time, or maybe you’ve noticed your symptoms are worsening with the impacts of your financial situation, talk to a doctor or trained mental health professional.

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