How mental health influences your finances - Deepstash

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How mental health influences your finances

Mental health problems can have a significant effect on your finances.

  • Excessive use of alcohol leads to poor judgment and inattentiveness to finances.
  • Depression can cause a loss of employment. People with depression also lack energy and a sense of purpose.
  • People with a mild expression of bipolar disorder can experience states with increased energy, decreased inhibitions, exciting plans, and are overstimulated to spend.
  • Adults with ADHD/ADD have the ability to pay intense attention to tasks that really interest them while screening out the tedious or mundane.

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Money is not a fixed entity. It is a complex of data points, challenges, and opportunities you encounter and have feelings about. Your decisions about money affect your emotions and behavior.

There are three factors you need to know about the psych...

The most important emotions about money to become aware of are fear, guilt, and shame. Without awareness, these emotions will interfere with your rational thinking.

  • Common fears include fear of having too little money, fear of looking foolish, fear o...

All families have their own psychology of money: what they can talk about, who should be in control, how important money is.

You may have experienced subtle pressures to correct the injustices perpetrated or suffered by previous generations. You may feel internal pressure ...

Emotions can be useful. They tell you what matters to you.

Mild anxiety is motivating for example. Harness your emotions to attend to what you need to face.

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