October 10th was World Mental Health Day, and the 2022 World Mental Health Day theme was, “Make mental health and wellbeing for all a global priority.”
Finances are a huge stressor for many, and if you want to make mental health a priority, alleviating some of the anxiety surrounding money management is a good place to start.
42% of US adults say money is negatively impacting their mental health, according to a recent survey from Bankrate and Psych Central. The survey polled 2,457 adults about how finances affect their mental state. Feeling stressed is the top response to finances, according to 70% of survey respondents.
Other emotions people associate with money include worry, anxiety, feeling overwhelmed and insecurity.
The top four money-related activities that triggered negative feelings identified in the survey were: looking at their bank accounts (49%), paying a bill (41%), making a purchase (34%), and having to discuss money (32%).
Although I am a bankruptcy attorney, a good deal of my time in consultations revolve around stress and how bankruptcy can provide immediate relief to the stress surrounding debt.
If finances are having a negative effect on your mental health, only you can take the first step. Bankruptcy attorneys don’t bite – we are not evil. A consultation with a bankruptcy attorney may prove to be the best step you can take to get your finances under control.