The Mind-Money Mashup: Your Brain and Your Bucks

A person's head with money coming out of it.

Have you ever had one of those phases when you feel like you’re battling life and it’s winning? You’re not alone. In the hustle and bustle of our modern lives, it’s easy to get tangled up in the financial web of bills, loans, and savings.

Here’s the thing: it’s not just about dollars and cents. Your financial wellness is deeply entwined with something even more important: your mental health. Yep, that’s right! The state of your wallet and the state of your mind are like those old friends from way back that just can’t help but influence each other.

So, if you’ve ever wondered why your bank balance seems to be playing mind games with you, or why a sudden money hiccup can throw you into a whirlwind of anxiety, you’re in the right place. Let’s dive deep into the link between financial wellness and mental health.

Understanding Mental Health And Financial Wellness

Mental health is defined as the state of an individual’s psychological and emotional well-being.

Financial wellness is a measure of one’s ability to manage bills, expenses, and debt, as well as anticipate financial emergencies and establish plans to achieve long-term financial goals.

Here’s the reality: If you don’t keep your financial wellness in check, it impacts everything else, especially your mental health. It’s like a domino effect – one thing topples, and the rest follow suit. Trust us, you don’t want that. And we don’t want that for you. Our recommendation? Adopt our B.E.S.T. method to counteract financial burdens and elevate your state of wellness.

Here’s What’s B.E.S.T. For You

  • Boundaries | Sometimes, family is the problem. Often times, we are the problem. It’s important to set financial boundaries with yourself and others, meaning limit the amount of money you “lend out,” and create a budget that aligns with what you can afford.
  • Experiences | Spending quality time by yourself or sharing experiences with others does not always have to be centered around spending a lot of money. Change the dynamic! Think of affordable things to do, like exploring the city on a trolley, reading your favorite book in the park, or hosting a potluck. Get creative!
  • Savings | This should always and forever be top priority. Save, save, save! If you haven’t already, open a savings account to begin stacking your money today. Consider using online money management tools to help you easily set and maintain your budget; setting up an automatic savings plan to automatically deposit a certain amount or percentage of money into your savings account; and taking advantage of our AutoSave feature, which allows you to automate your savings.
    By creating a realistic budget, making savings simple, and being strategic with the way you spend money, you alleviate a load of financial stress, which typically brings greater peace of mind.
  • Time | Take some much-needed alone time. Assemble a plan for your new year’s resolutions. Log out of your social media accounts. Turn your phone off. Meditate. Exercise. Indulge in self-care. You deserve it!

A key part in achieving financial wellness is getting #FinanciallyLIT. Being financially literate will allow you to make knowledgeable financial decisions, which may improve your mental health and overall well-being.

As we near the end of the year, it’s imperative to start building AND sticking with healthy habits now to step into the new year on the right foot. Adopt our B.E.S.T approach and transform into your BEST self.

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