Money & Mental Health
How money can affect your mental health.
Money and mental health can often impact on each other. Poor mental health can make managing money harder and worrying about money may affect your mental health.
In a consumer driven society, there is a constant pressure to have the latest, trendiest and newest of everything. With that comes the attitude of ‘why wait and save, I can have that now’. This may mean buying an item on credit, using rent money to pay for it, going further into your overdraft… the list goes on.
This can be the start of money problems. You’ve heard the sayings ‘living within your means’ and ‘if you can’t afford it, don’t buy it’, but many of us act too quickly and make a purchase without firstly considering the real cost. Ask yourself:
- Do I really need this? Will it add value to my life?
- Can I actually afford it? Could I wait and save up for it? Will I even use/wear it?
- Am I only spending to make myself feel happier? If so, you might instantly regret it when you look at your bank balance.
Taking control of your money before it controls you can be the biggest step to take in improving your financial situation and in turn ease your money worries.
REMEMBER! Support is available! Whether you need help with budgeting, stress, anxiety or more serious mental health concerns.
AVOID burying your head in the sand. Things will not magically work themselves out.
ASK for help or advice whether you’re just not sure or you’re in a jam – you can visit Student Wellbeing on campus, contact us by email or arrange a telephone appointment. Don’t wait!
If you are experiencing mental health problems, please speak with our team on campus for support.