Financial hardship: How does this impact your mental health?

It's hard to take care of yourself when you’re experiencing financial difficulties. Yet, taking a moment for yourself, and taking care of your mental health is part of the inevitable process in getting you back on the right track of financial stability.

 

When something unexpected in life puts you into financial difficulties, it is never easy to face this alone and, in most instances, your mental health will begin to be impacted.

 

So, what can you do about it?

 

Do you feel isolated?

Faced with financial difficulties, many people isolate themselves, whether out of shame, or simply because the holes in the budget no longer allow them to have the social life they would like. In addition to this you may feel cut off from help and possible solidarity which will have a negative impact on your mental health.

To combat this distress, the best solution is to contact people who can help you. Whether psychologically or financially, support systems are available to you.

 

It’s time to ask for help…

Even though it seems difficult, if not impossible to deal with financial problems alone, this is the time to ask for help. If shame and guilt are eating away at you, know that social workers and debt charities are on hand to help you overcome financial obstacles without judgment.

 

And if you are a client at Hoist Finance, our advisors are here to help you!

Hoist Finance

08.09.2022

Related articles

Budget advice points: budget education within everyone's reach!

Not everyone has the chance to learn about budgeting, so if the area of budgeting is uncharted territory for you, our advice below may be helpful for your situation.

Hoist Finance

5 minutes
Why do you have to pay off your debts?

These days, using credit is a reality for most adults. In fact almost anyone can find themselves in debt, regardless of income, social background or occupation.


We know that sometimes honouring your repayments is not always at the top of your priority list, however it can more beneficial than you think…

 

Check out why repaying your debt can make your life easier…

Hoist Finance

5 minutes

Oh no...Your browser is not supported...