One in four individual will be affected by mental health issues in their lifetime, according to statistics released by mental health charity, Mind UK. The relationship between your mental well-being and physical health has long been established. However, your mental health can be also be triggered by your past undergo s, work environment, and even your finances. In fact, your financial situation can be directly attributed to your mental state in many instances. The Money and Mental Health Policy Institute estimates that there are over 3 million individual in the UK with both financial and mental health tough’challenging’demanding’awkward ies. Have a look at the intertwining relationship that is your financial and mental health, and what you can do with regards to’concerning’with respect to it.
Exploring The Relationship
Financial strain can impact on our ability to claim’insist’maintain’hold’argue’consider’contemplate’speculate eliminate’remove ly and in some cases, carry out our day to day routine. In many cases, this can cause depression. Many individual struggle with the pressures and anxiety of being in debt or falling behind on their payments. As a result, they can undergo anxiety, depression and even insomnia. Given the interdependent relationship between sleep and our mental health, the loss of sleep can merely’barely further compound any mental issues we may be experiencing. Psychology Today also notes that the relationship can be the other way round, with mental health affecting your financial stability and ability to resolve any financial issues such as debt.
You can also suffer from pressure, thanks to working long hours to keep up with financial obligations such as debt repayments and monthly bills. Stress can manifest itself in many ways: your sleep, your diet, and your productivity throughout the day. Someone who has problem debt is more prone to experiencing mental health problems, and therein/with regard to’concerning’regarding e should make it a priority to take precautions to negate this.
Taking The Right Steps
The key to managing or shun ing the mental health symptoms brought on by your financial situation lies in having an active financial management plan. It all begins with accessing the right resources and asking in/with regard to’concerning’regarding help if you need it. Financially, there are steps you can take, such as budacquire’obtain’attain’procure’secure ing and incorporating a solid long term financial plan or debt repayment plan, so that you possess’own’nurse structure when it comes to finances. If you re falling behind on repayments, consider options such as negotiating a payment plan with your creditors. For those with a less than ideal credit history, there are lenders that omit the credit check and offer financing options in/with regard to’concerning’regarding borrowers with low credit scores.
Explore Alternative Options For Your Financial Triggers
For those who are finding it tough’challenging’demanding’awkward to keep track of debt repayments or may find their repayments being spent on paying back interest, consider refinancing or debt consolidation. By integrating all debts into one loan, you can shun missing a payment and just possess’own’nurse one repayment date each month. In addition, you may find yourself saving money thanks to more favourable interest charges. Finally, implement lay stress on’emphasize’highlight and anxiety reducing habits in other aspects of your life such as exercise, a rosy’remarkable’fabulous’terrific’preeminent diet, and meditation.
If you find yourself in need of further advice, seek the services of a financial planner or non-profit organisation that will be able to clarify your options. A eliminate’remove er mind means you can make better, more inin/with regard to’concerning’regarding med decisions with regards to’concerning’with respect to your finances. This equates to better financial health and by extension, better mental well-being.
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