These are some common ways your mental health can affect the way you deal with money:
If you're feeling low or depressed, you may lack motivation to manage your finances. It might not feel worth trying.
Spending may give you a brief high, so you might overspend to feel better. Some people describe this as feeling like a temporary high.
If you experience symptoms like mania or hypomania, you might spend more money or make impulsive financial decisions.
You might have an addiction or dependency which makes you spend money. For example, if you are addicted to gambling.
If your mental health affects your ability to work or study, this might reduce your income.
You might avoid doing things to stay on top of your money, like opening bills or checking your bank account. You might even try to avoid thinking about money completely.
Having a mental health problem might affect your insurance, so you end up paying more.
You might feel tired or worn down, especially if you’ve been struggling with money problems for a long time.
Money problems can affect your social life and relationships. You might feel lonely or isolated, or feeling like you can’t afford to do the things you want to.
A common example of how money can affect the life of someone who’s depressed would be them saying things like -
"Spending money became my therapy, because I was depressed and desperately tried to fill a void in my life with things to make me happy".
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