Money is one of the top stressors in America. It fuels anxiety, tension, and burnout. Yet we rarely talk about it in the same breath as mental health. That needs to change.
May is Mental Health Awareness Month, and it's time to connect the dots. If you're feeling overwhelmed by finances, you're not alone. And there are steps you can take to gain control and feel more stable.
The Link Between Money and Mental Health
Financial stress can push people into survival mode. Worrying about bills, debt, or job insecurity takes a toll on your mental health. It can keep you up at night, affect your mood, and drain your energy.
Mental health struggles can also make it harder to manage money. Depression might lead to avoidance. Anxiety might cause decision paralysis. ADHD can make budgeting feel impossible. It becomes a feedback loop that’s hard to escape.
Planning is a way to break that loop.
Why Minorities Often Face More Pressure
For many people of color, the intersection of race, money, and mental health creates an even heavier burden. Systemic inequalities mean that Black and Brown communities often face higher rates of poverty, wage gaps, lack of access to affordable healthcare, and discrimination at work. These economic stressors directly impact mental wellness.
On top of that, mental health stigma can be stronger in some minority communities. That makes it harder to ask for help or even talk about the pressure.
Financial planning can be a powerful act of self-care and empowerment. But it’s most effective when paired with access to mental health resources that understand cultural and structural barriers.
What Financial Planning Really Means
Financial planning isn’t about being perfect. It’s about creating structure, clarity, and peace of mind. That includes:
- Knowing your income, expenses, and debts
- Setting realistic goals like building an emergency fund or start an investment account
- Designing a plan to retire how you desire
- Checking in regularly and adjusting as needed as life events come up
Even small steps, like tracking your spending or automate your savings, can reduce stress and create momentum.
Mental Health and Money Go Hand in Hand
Financial wellness is part of your overall well-being. That means it’s just as important as therapy, exercise, or sleep.
If you’re feeling overwhelmed, consider working with both a therapist and a financial advisor. Make sure they understand your background and the pressures you’re facing. You deserve support that sees the full picture.
One Small Step This Month
Use Mental Health Awareness Month as a checkpoint. Ask yourself:
- How much of my mental stress is tied to money?
- What’s one small action I can take this week to feel more in control?
It doesn’t have to be perfect. You don’t have to have it all figured out. Just start with one move. You’ve got this, and your not alone.
Warm Regards, Nicole