Updated: Nov 4, 2020
Mental health and money:
How is mental health and money related? Mental health can cause different types of problems such as how you feel, how you act, and possibly how much money you make or have. When mental health isn’t under good control, it can be difficult to get a job, keep a job and easier to lose a job. It’s important to understand why mental health affects your finances (money).
There are many types of mental health disorders. A common mental health condition is depression. This is the leading cause of disability in the world. Depression and anxiety disorders causes $1 trillion in lost productivity/income every year according to National Alliance of Mental Illness (NAMI).
It’s important to understand when mental health isn’t under good control, it can easily cause you to spend money you have and money you don’t have. Sometimes to feel better, you might spend money in different ways. It could be shopping, drinking alcohol, eating, smoking, gambling or something else. There are many reasons to control mental health and not losing money is another one.
One way to understand your money (financial) situation is to write it down. Think about what you make and what your expenses are. Write down your resources for money and where to get help if you need it. Have a plan for your finances (money). Write it down.
What your plan can look like:
Save money when times are good in case you need to take time off work or school to feel better
Buy generic (not brand-name) products & use coupons
Give yourself a limit on spending
Medications (If you taking medications, use generic ones, if you can. Talk with pharmacy or your doctor for information)
See what resources are available in your community (reach out to local health agencies, check online, government resources or ask other people)
or call 211 (in USA)