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Your Emotions & Your Finances

wendirworkman

The Big Picture: Financial stress can impact emotional wellness, cause tension in relationships, and lead to feelings of shame and guilt. When you are financially stable, you can maintain healthy relationships with family, friends, others in your life, and have the emotional bandwidth to pursue fulfilling activities.


Statistics show that about 90% of our financial decisions are made from emotion, not logic. When we learn to manage our emotions, we can more easily manage our money, save for emergencies, and plan for big goals. We can move out of a place of fear and scarcity into more abundance and freedom.



Here are some ways in which emotional wellness and financial wellness are connected:

  1. Stress: Financial stress is a common source of stress that can negatively impact our emotional well-being. Financial stress can cause anxiety, depression, and sleep problems, among other issues.

  2. Mindset: Our mindset can have a significant impact on our financial wellness. Negative emotions such as fear, shame, and guilt can prevent us from taking positive financial steps, while positive emotions such as gratitude, contentment, and confidence can help us make better financial decisions.

  3. Coping strategies: Our emotional wellness can impact how we cope with financial challenges. For example, individuals who have good emotional wellness may be better equipped to handle financial setbacks and make positive changes to their financial situation.

  4. Self-worth: Our financial situation can also affect our self-worth and emotional wellness. Struggling with debt or financial instability can lead to feelings of shame, embarrassment, and low self-esteem.

To improve both emotional wellness and financial wellness, it's important to develop healthy coping strategies for stress, practice self-care, and develop a growth mindset. This might include seeking support from mental health professionals or financial advisors, creating a budget, saving for emergencies, and seeking out opportunities to improve your financial literacy. By taking care of our emotional and financial wellness, we can live a more balanced and fulfilling life.

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