Are you struggling with financial difficulties?
Struggling with financial issues can have a huge impact on your mental health and vice versa. If you are out of work or in debt this will leave you feeling low which can make it hard to manage your money. Then the worry that this causes will affect your mental health and so the vicious circle begins. Before long, you might find yourself in a situation you feel you can’t get out of.
With the prices of everything constantly increasing, it can be difficult to see how things can get any better. You may feel trapped because of mounting debt or just managing day-to-day expenses of food and warmth might be a battle.
How can your mood affect your finances?
Some find temporary comfort in things such as shopping, takeaways or going on impulsive weekends away that stretch beyond what is reasonable for their budget. The idea of giving up these luxuries can prove to be difficult, however to break this cycle and improve your mental health, it is necessary to introduce a strategy of balance to improve things. Even small changes can make a big difference. Consider swapping takeaways or restaurants for fun alternatives you can cook at home. Consider visiting local areas you have never seen. Often, there are amazing places on your doorstep you haven’t discovered yet that is no more than a short journey away. If shopping addiction is leading to overspending, it’s essential to address how and why this habit started. You might like to take at our how to write a timeline page to do just this.
If comparing yourself to others is leading you to overspend with pressure to uphold an image, consider that other people’s perception of you can’t contribute to your health and happiness and everyone’s circumstances are entirely different.
If you feel guilty as your children must also adjust to cutbacks in their lifestyle, be kind to yourself and acknowledge the fact that you are doing this to improve their lives too. Children may seem to be focused on trends, possessions and want everything that their friends have, but what makes them truly happy is the time spent with them. Take up a hobby that you can do together, enjoy making memories and set small goals as a family.
Things may seem desperate
However, there is ALWAYS a solution, and there is always hope. Every situation, no matter what it is, or how bad it may seem, is temporary and can be managed and dealt with. You may not solve your problems overnight, but you can find a way through. It is all about taking one day at a time and one step at a time.
The first thing to do is to get organised. Nothing is scarier than worrying about what the future holds while the bills pile up. The truth is, once you face a problem it is always far less scary than your perceived thought about it.
How to get organised
- Gather all important documents together.
- Write everything down and make two lists. All your incomings on one side and outgoings on the other.
- Be honest with yourself about your budget, don’t leave anything out.
- Get rid of any payments that aren’t essential.
- Be honest with your family about your situation.
- If you are struggling and feel you need help, Trauma Research UK have partnered up with PayPlan which offers free and confidential advice and will find a solution that is tailored towards your needs. You can download their free leaflet here: PayPlan: Get free debt advice
PayPlan offer free, simple debt advice to anyone who needs it. Since PayPlan launched almost 30 years ago they’ve helped over 1 million people to become debt-free, and every year they help over 100,000 more people with their finance.
When you contact Payplan for debt advice, they’ll show you all the different debt solutions that are out there so you’ve got a clear idea of what your options are, and how each one could help you. They can also advise you on what the best solution is for your circumstances, plus any other options that might work for you.
If you’d like, they can set up a debt solution that fixes your situation, lowers your repayments and gives you the chance to move forward with your life the way it should be: without the debt being part of it.
On the other hand, you can just use the service for advice about how best to deal with your debts and then take some time to decide what you want to do next. Whether you’re just looking for some debt advice you can trust or want to get into a solution straight away, their help is free to everyone and doesn’t have any obligations, strings attached or hidden costs.
Finally, please remember that there is nothing to be ashamed of. You are not the only one going through financial struggles.