Budgets can make you feel secure
You may not be good at budgeting, but that doesn’t mean you can’t learn. People who struggle with their finances often have mental health concerns such as anxiety, depression, or stress. A budget can relieve some of those concerns. When you know where your money is being allocated, you have a sense of grounding. You understand how much you’re paying for your electric bill, your phone, groceries, and all of the other expenses that you have. Once you’ve set your budget for necessities, you can even create one for fun things such as going out with friends. A budget is a way to organize your thoughts about what’s meaningful to you and how to allocate money to make those things happen.
Budgets release anxiety
If you don’t have a full understanding of where your money is going, it’s likely to cause anxiety. That’s where a budget can help. Budgeting might sound dry and dull, but keeping a budget can help you in terms of feeling less nervous about your funds. If you feel like you don’t know how much money you’re bringing in and struggle to remember what bills need to be paid on what day, it can cause a lot of stress. You might have more money to save when you think you do, and when you look at your budget, you can set a realistic expectation of what you can and cannot spend. It might feel boring to you to have to sit there and figure out how much money to put away for each expense you have, but the alternative is feeling stressed out daily and potentially missing payments, which can cause even more stress. Making a budget will make you feel calmer and enjoy life more.
A budget is good for your mental health and enjoying life
A budget can make you feel like things that you didn’t realize you could do are possible. For example, you might not believe you have the money to go on vacation, but when you put money aside and cut expenses elsewhere, you’ll eventually be able to go on vacation. Sometimes, people don’t realize how much they’re spending on things like eating out or subscription services that they don’t usually use. You will recognize that you can achieve things in life that you didn’t think you could. Maybe, you feel like you don’t have enough money to go to therapy, but if you budget that money for mental health services, you’ll be able to pursue your mental health and wellbeing.
Fear of a budget
Some people are afraid that they’re bad at money or feel as though they can’t set a budget. There are many templates available right now that can help people with budgeting. You don’t have to feel alone in this process, and there’s no need to believe that you can’t do it. It’s not too late to learn. There’s a learning curve when it comes to allocating money. In addition to finding a template online, you might be able to get help from a family member, a financial advisor, or someone at your college if you’re a student. There are also budgeting apps that you can try. If financial issues are a struggle for you, you can discuss your financial concerns in therapy. Sometimes, fears surrounding money run deep, and a mental health professional might be able to help.
Talking about money with a therapist or counselor
Therapy is an excellent place to discuss issues surrounding finances. First, a therapist will ask about your fears or experiences surrounding money provide you with insight as to how to navigate those things. You’ll be able to talk about where your stress is coming from, how it’s affecting you, and learn to manage those stressors over time. Don’t feel hopeless. There is a way to handle your money, and it’s essential to be able to open up about your struggles without sugar-coating them. A therapist wants to hear the real deal when it comes to your stressors surrounding money. They’ll help you get to a place where you can develop that budget and learn to cope. You’ll feel better about your relationship with finances when you’re honest, and you can learn to manage money in a way that’s good for your mental health.
This is a guest post by Marie Miguel. She has been a writing and research expert for nearly a decade, covering a variety of health- related topics. Currently, she is contributing to the expansion and growth of a free online mental health resource with BetterHelp.com. With an interest and dedication to addressing stigmas associated with mental health, she continues to specifically target subjects related to anxiety and depression.