The link between mental and financial wellness
There is a direct link between financial and mental wellness. Financial stress can cause emotional stress, it impacts our relationships and our workplace.
And when it comes to managing money, we also need to be aware of our money emotions - what makes us spend, why does money make us anxious?
While financial stress can cause emotional stress, financial difficulties could also be a result of a mental or emotional challenges.
For example, if you are feeling stressed you are more likely to make impulsive purchases to make yourself feel better. If you feeling depressed, you may start slipping behind on bills. A person who suffers from bi-polar disorder may have manic episodes where they shop compulsively.
In this video Dr Lesego Rametsi who is the group head of health and wellness at Absa, provides insights into the impact of mental wellness on our finances and how to overcome some of the negative behaviour patterns.
Whether you’re struggling with financial stress or simply looking to improve your overall health, take the time to invest in both and prioritize your well-being.
Find out more about the contestants and their advisers here:
If you really want to get your finances in order, you have to start tracking your spending. If you cannot commit to that, it is unlikely you will be able to reach your goals.
City Press will follow the candidates’ progress on the first and third week of each month, as well as online on the Money Makeover page:
Follow the journey – and join in – @CPMoneyMakeover and #CPMoneyMakeover on Facebook and Twitter
Absa Enterprise Development assists SMEs with access to business development support, markets access and access to funding based on certain criteria’s being met. For further information on Absa Enterprise Development you can email ed@absa.africa
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