Money Stress: How to Spot the Signs
Updated: 5 days ago
This April we're focusing on Money and Mental Health due to it being Stress Awareness Month in the UK.
Understanding the connection between money and mental health is crucial to having a good relationship with your finances. One of the most common emotions people can feel about their finances is stress. Being able to identify when you're under financial stress and strain can help you seek help and understand how you can move forward.
Over the next few week we'll be covering topics relating to money stress; how you can spot the signs, cope with your stress and how to reach out if you need help.
Follow along on our social media channels, linked in our header and footer, or take a look at our Money & Mental Health tab.
Our first Money Advice blog post this April is identifying signs of money stress in your life. Read on for the top three signs.
1) You Can't Talk About Money
If the idea of talking about money makes you feel embarrassed, or awkward, this can lead to you being more stressed about your finances. It is important to feel comfortable asking for advice or voicing your worries about your finances.
2) You Avoid Looking at your Bank Statements
Avoiding checking your bank balance and statements is a clear indication that you're stressed about money. The avoidance is a coping mechanism. By trying to ignore potential issues in your finances you'll only increase your stress and worry.
3) You Worry about the Future
This follows on from avoiding your bank balance. If you are continuously worried about your financial future this can lead to money stress. By continuing in this unhealthy cycle can lead to further money mental health problems.
By identifying these money stress symptoms you can begin the journey of transforming your finances to work well for you and your mental health. One way to do that is by having a clear budget (find out more here) which helps you stay in control of your money and reduces uncertainty in your daily life.
With the ImageNPay app you can manage your finances with our digital prepaid card. Prepaid cards are a great tool to help you stay within your budget and control your spending. Find out more about the benefits of prepaid here.
The ImageNPay app is a perfect tool to help you budget your spending. With a £120 monthly spend cap on our standard plan, our digital prepaid card can help you stay within your budgets monthly limit. You can download for FREE on iOS in the UK.
Further resources for Advice and Support:
Next week - How to Cope with Money Stress