Financial stress can literally destroy you

A young man with a laptop whose biggest problem is financial stress.

Financial stress is a topic that has been with mankind for many long years. The combination of these two words is quite telling. All of us have experienced some stress caused by different situations. In this case, the main trigger is finance. The subsequent feelings probably do not need to be presented to anyone at length.

  • Anxiety
  • Insomnia
  • Depression

Stress caused by lack of funds is often a much neglected topic, and few people pay more attention to it than they should. This time, however, we will make an exception and focus on this area in more detail in the following lines.

Financial stress in practice

A variety of factors become stress triggers. Each of us has it a little differently. But money, or a limited amount of it, is no exception. Lack of finances can create not only wrinkles on the forehead, but also on the soul and in the mind. The psyche as such is, of course, also affected by many other things.

Death in the familyTrauma
Termination of employmentDepression
Personal relationshipsMelancholy
Health problemsFeelings of futility
Stress in life can be caused by all sorts of life situations and moments.

The suffocating state affected by financial stress has a pretty clear-cut scenario. These people suffer primarily because of anything related to their personal finances. Inability to understand the area, not enough money and other scenarios.

Can't handle your personal finances?

Finances as such can become a ruthless trigger for psychological and health complications. Financial stress is most often associated with depressionfollowed by mania and impulsive decision-making. As you probably correctly guess, such decisions often have bad outcomes and are not good.

Financial stress needs to be addressed as soon as possible, both practically and mentally.

Isabella L., psychologist.

Various circumstances can lead you to financial stress. Ignorance of the segment, but also the world's biggest casinoswhere you spend all your savings. All this can be an unwanted trigger for financial stress, which then takes its toll.

Financial stress can deepen and pile on more and more health problems.

Money affects the psyche of a person

Every person should realize one important thing. Your psychological well-being is greatly influenced by money. Yes, there are exceptions, of course, but there are not many. Many studies around the world have shown that mental well-being is directly proportional to a good financial situation. It is because of money that people can manifest any kind of psychological problems.

  • Post-traumatic stress disorder
  • Concentration problems
  • The origin of cancer

One is intertwined with the other. The psychological deterioration caused by financial losses affects many people, and perhaps even you. However, few people acknowledge this and do not consider it as a cause of poor health.

Statistics and financial stress

Worldwide studies are clear when it comes to financial stress. Indeed, the evidence for the above is also many of the global problems that have afflicted humanity. A typical example is 2020, when the coronavirus broke out and many people started to face financial problems.

Beginning financial stress84 % people
Year of survey2020
ImplementerNational Endowment for Financial Education
Finding a financial advisor68 % people
Information regarding one of the public surveys from previous years.

The financial crisis affected many people at that time and the psychological problems associated with the lack of finances were felt by many people. Positive emotions were replaced by negative ones, and for many people the money problems deepened.

Financial Stress = The Road to Debt

Financial stress as such brings not only psychological problems. It also goes hand in hand with difficulties affecting people's wallets. Fear of finance, avoidance and postponement of credit commitments, money literacy. All this leads to people suffering from financial stress falling more easily into the debt trap.

People suffering from finance-related post-traumatic stress disorder often make bad decisions that they later regret. Through their own fault, they lose more money and increase their debts.

Abigail S., psychologist.

If you start to notice that your financial difficulties are interfering with your mental health and decision-making, it's time to seek professional help. Both from a money management and mental health perspective.

Financial stress is associated not only with psychological difficulties, but also with a poor financial situation.

The connection between finance and stress

The moment financial stress catches up with you, you need to be aware of it. If you start to feel a certain relationship between your money and emotional attention. Fear, anxiety, worry and heaviness in the chest are clearly given impulses. At that moment, you should answer a few simple questions.

  • Are you worried about the money you spend?
  • Are you putting off any solution to your financial problems?
  • Concerned about your bank account balance?

If you answered "yes" to at least two of these questions, financial stress is likely to affect you too. Don't delay at that point and start doing something about it.

Find experts on all fronts

First and foremost, put a stop to your money troubles. Since a person falls into financial stress, he usually cannot handle such a situation alone. So don't be afraid to reach out to a financial advisor. An expert and impartial person with knowledge of the field. After all, people's opinion of financial advisers is improving all the time, as one historical survey shows.

SurveyYear 2015
Using the services of a consultant10,5 %
Further researchYear 2020
Using the services of a consultant35,6 %
The use of financial advisers has been on the rise in recent years.

People are becoming more and more actively interested in finance. And those who don't have the time and knowledge simply choose an experienced advisor. In the case of financial stress, this is a step in the right direction. This is because improving your money situation will also lead to an improvement in your mental state.

Mental Health Professionals

Of course, you should not underestimate your mental health. While a financial advisor can help improve it, they can't fix it perfectly. If financial stress is holding on to you like a tick, see mental health professionals. Contact psychologists, therapists and similar professionals.

If you can handle the stress caused by finances, you will be able to handle it better in other situations in life.

Oscar W., psychologist.

There is a cure for anxiety, depression and insomnia, and it doesn't have to be in the form of a drug. It's mostly the therapy you receive and the opportunity to talk to someone about your finances.

Money is a major and fundamental trigger of financial stress, on top of which other things are piled.

Financial Stress - Final Summary

Mental and physical health go hand in hand. So don't underestimate financial stress and start doing something about it as soon as possible. The alpha and omega of course is to resolve the financial situation. But add to that getting enough exercise. Get the right amount of sleep and focus on healthy eating. All of this will help to manage stress, whether it's related to finances or any other area, faster and better.

Frequently asked questions and answers

Delve deeper into the mysteries of financial stress and be adequately prepared for this type of situation. If you are interested in more useful information on this topic, read the questions and answers below.

What do the surveys say about financial stress in the UK?

According to long-term statistics, it is clear that 68 % percent of people with these problems have sought out a financial advisor and find their services beneficial.

Who to contact in case of financial stress?

It's not only a financial advisor, but also someone you trust and are willing to confide in with your problems. Ideally, it's a psychologist and a therapist.

How likely are people suffering from financial stress to fall into debt?

Global surveys are quite clear on this point. Such people are up to three and a half times more likely to fall into a debt trap.

How does financial stress manifest itself?

Apart from psychological problems, anxiety and depression, it is mainly shame for your financial situation. Putting off money problems, resignation to monitor the bank account balance, etc.

Who are financial advisors?

These are experts who understand the world of finance and can suggest adequate solutions to get out of the debt trap, where to invest, how to manage finances, etc.

Banish financial stress

Educate yourself in finance, try to separate your feelings from your money and be cautious in this regard. This is the only way to avoid money problems in your life and avoid unwanted financial stress. It can literally ruin your life.