Lifestyle
(Edited: )

It’s True: Financial Problems are Linked to Poor Mental Health (2 of 3)

Conservative Investor, Skin, Hand, Toy, Nail, Thumb, Gesture

IDENTIFYING THE PROBLEM

It isn’t always easy to identify the root of your financial difficulties. You might think that you’re careful with your money, only to discover at the end of the money that you have less money in your bank account than you expected. So what is the best way to figure out what’s going on? Consider these questions related to your spending habits and mental health:

  1. What motivates you to spend money? Does it make you feel better to spend money on things that aren’t necessary?
  2. Do you ever suffer from high degrees of anxiety that prevent you from working?
  3. Do you regularly keep tabs on your bank statements or do you deliberately avoid finding out how much you’ve been spending?
  4. When family members — particularly your spouse or partner — brings up finances, do you try to change the subject?
  5. Are you able to pay off your credit cards in full or do you pay the minimum balance? If you only pay the minimum, have there been months when you’ve been unable to meet this minimum?
  6. Even if you have a decent amount of money in the bank, do you constantly worry about your spending habits and credit card debt?
  7. Are you willing and able to work with a financial advisor in order to learn how to make better financial decisions?

Don T Have Enough Money, Finger, Banknote

ARE YOU ON THE PATH TOWARDS FINANCIAL TROUBLE?

If any of the questions above resonate with you, it doesn’t always mean you are on the path towards financial trouble. However, if any of them become a regular problem, it could only be a matter of time before your financial situation spirals out of control.

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