Mental health; it's a complicated topic for many people. There can be such a stigma attached to those two words, people often feel uncomfortable and don’t really want to talk about the subject. One thing that professionals can agree on, is that it’s healthy to know and say how you’re feeling.
Today, Thursday 6 February 2020, is Time to Talk Day. “Mental health problems affect one in four of us, yet too many people are made to feel isolated, ashamed and worthless because of this. Time to Talk Day encourages everyone to be more open about mental health - to talk, to listen, to change lives”.
Although at bdb we aren’t experts on the subject of mental health, we do our best to support our clients and team members by ensuring that we are always available to talk.
An area that can affect mental health that we are qualified to talk about is money. “Money and mental health are often linked. Poor mental health can make managing money harder and worrying about money can make your mental health worse”. It’s a cycle that can be hard to break, so we’ve put together some tips to help.
Needs & Wants
Understanding the difference between needs and wants is key. It sounds simple, but it’s very important to enable you to create a plan for your money. It’s common to spend money to make yourself feel better, as spending can give you a temporary high and create short term happiness. By considering whether your purchases are a necessity or not, you can help control spending. One of the tools we use is the bdb board game.
You can do this yourself, it’s a fantastic tool to enable you to understand what's important, not letting those impulsive purchases affect your ability to live within your means. You can download a copy of the board for yourself here.
A budget enables you to keep an eye on your money, making sure you don’t spend more than you need to. Budgeting is one of the most important things you can do to improve your financial life. Knowing where you spend your money enables you to create a plan, avoid running out of money and getting into debt. Debt can make you feel stressed, anxious and worried about the future which drastically affects your mental health. New online banking apps such as Monzo have great features which can help you to budget effectively. Find out more about Monzo here.
Most importantly at bdb, we believe “real wealth is measured in time, relationships and experiences”. Bad habits around money should not get in the way of your mental health. In a world where newspaper columns are full of shocking headlines and day to day life can be difficult, it is easy to forget about the people around you. Time is one of your most valuable assets; I urge you today to give up some of your time for the other people around you. Even if you don’t want to talk about mental health or worries about money, the people around you might. Give it a go, it's only two little words...