Financial stress results when people worry about their ability to meet their financial obligations. It’s due to accumulated debt, lack of job security, low income, or an inability to cope with the increased cost of living. Research acknowledges that money is a leading cause of stress for many individuals.
For men, it’s especially detrimental to their mental health. While women are more likely to experience depression and anxiety, some men turn to harmful coping mechanisms, such as taking alcohol or using drugs. Read on to learn more.
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Financial Stress Can Lead to Substance Abuse
Substance abuse is a common negative coping mechanism for men experiencing financial stress. Alcohol and drugs can provide temporary relief from the negative emotions associated with financial stress. However, they ultimately make the problem worse.
Substance abuse can lead to job loss, financial problems, legal issues, and health problems. Addiction makes you less able to cope with stress. You might not be able to hold down a job, pay your bills, or take care of your family. To find lasting solutions, treat the addiction first, then seek ways to rebuild your financial life. Check out reputable centers such as Alta Loma for help to rebuild your life.
Financial Stress Can Lead to Depression
One of the most general mental health disorders triggered by financial stress is depression. It’s a serious condition that impacts a person’s mood, thoughts, and behaviors. A depressed person may feel hopeless, helpless, and worthless. They may have trouble concentrating, making decisions, and remembering things.
Depression can lead to physical problems, such as headaches, digestive issues, and fatigue. So it can interfere with a person’s ability to work, socialize, and manage hygiene. If you suspect that you or someone you know is struggling with depression, seek professional help.
Financial Stress Can Lead to Anxiety
Anxiety is characterized by feelings of worry, nervousness, and fear. These feelings can be so intense that they interfere with a person’s ability to function in their daily life. A person with anxiety may have trouble sleeping, concentrating, and making decisions. They may also avoid social situations, work, and school.
The Stress Leads to Physical Health Problems
Migraines, gastrointestinal disorders, and heart disease are just a few physical health problems linked to financial stress. The constant worry and anxiety that comes with financial stress can take a toll on your body. The stress can even worsen existing conditions.
Financial Stress Strains Relationships
When you can’t meet your financial obligations, it strains your relationships. You may argue with your spouse or partner about money or avoid social situations because you can’t afford to participate.
Your children may suffer from financial stress as well. They might not participate in after-school activities or have to move to a new school district. When you can’t adequately provide for your family, it can lead to guilt, shame, and failure. All these issues affect your mental health.
How to Cope With Financial Stress
If you’re struggling with financial stress, talk to someone you trust about your feelings. It could be a friend, family member, therapist, or financial advisor. Get a support system to help you through difficult times. Other than this:
Find Lasting Solutions
You can only solve financial stress by making changes in your life. Find a way to increase your income and reduce expenses. It perhaps means starting a side business or looking for a higher-paying job. So try to live below your means and put some money into savings. Have long-term goals and think about your future.
Create a Budget
A budget can help you get a handle on your finances. Track your income and expenses to know where your money is going. Make sure you’re not spending more than you’re bringing in. And once you have a budget, stick to it.
Get Professional Help
If you can’t seem to get your finances under control, seek professional help. A financial advisor will create a budget and help you find ways to save money. They can also negotiate with creditors on your behalf.
A therapist can help you deal with the negative emotions associated with financial stress. If substance abuse is a problem, there are treatment options available.
You Are Not Alone
Financial stress can have a severe impact on your mental health. It takes control of your life and affects your relationships. You’ll sometimes feel ashamed, guilty and helpless, but remember you are not alone. So take the first step and talk to someone about your problem.
Seek professional help to make lasting changes in your life. Anytime stress gets a hold of you, find a way to relax and rejuvenate, making you feel better. You’re more likely to find solutions when not stressed.