Financial stress & mental health (my strategies)

The impact of financial stress on my mental health is bigger than you think! I'm a big proponent of personal finance strategies and I'm excited to share them with you!

Discover my financial wellness tips on how to cope with financial stress in this video. Whether it's covid-19 and financial stress, financial stress and depression, or you're just simply looking for suggestions on how to reduce financial stress, this video may be helpful for you!

00:00 Intro
04:03 "Do this regardless of how much you make"
05:18 "You don't have to get this right right away"
06:50 The tools I use
07:34 How I deal with debt
08:44 "When I had debt..."
09:34 Depression & my debt

#MentalHealth #FinancialStress #MedCircle

[Msrojo]

I’m Australian and I see the US health system as very mean. In Australia we have universal free healthcare, called Medicare. As a society, we pay taxes to care for those in the greatest need, without judgment. Our system is not perfect, but it does give everyone access to quality care, without the stress of going into debt. This includes psychiatric care and optometry.

[CharlieLaneAustralia]

I’m a 10. Right now I’m watching this on the verge of a panic attack, trying to make to do lists in my head. Thank you for this video.

[ymirium]

Im at a 10. My money issues cause me extreme panic attacks and triggers extreme depressive episodes for me. It's horribly stressful :(

[dominiqueabell]

That's exactly what I do! When I cant get control of my my finances I completely shut down. And avoid everything. I'm extremely stressed right now. I cant figure out how to get out of being homeless. I'm naturally scatter brained so trying to sort things out while stressed out is impossible for me 😒😞

[melchol]

Thank you for addressing this! Sometimes its hard to give yourself the self compassion you need when you feel like drowning in financial issues. Especially when you know how your mental health (ADHD) plays into it and it feels like life is punishing you for it

[Dr.JudeAEMasonMD]

I admitted myself to inpatient psych this past November and was there for 10 days.

I discovered that the months of extreme life stress from relocating with my children to leave an emotionally abusive narcissist, the resulting custody case and financial devastation caused relentless panic attacks that spun into delirium and mania. I now am considered to be bipolar 1.

Ok, cool. Now I know and I am here to take control of my mind and my money.

We got this. Thank goodness I am in Canada and my hospitalization didn’t bankrupt me. That was apparently my lawyer’s assignment. 😉
Stay blessed everyone. We can do hard things. One step at a time. Thank you for all you do Kyle with MedCircle. This conversation was right on time.❤️

[Laurie_Tinsley]

9 on the scale of stress from financial stress. As the only caregiver for my terminally ill husband, I am also the only source of income. His disability income basically covers the cost of his meds and medical care. We also have a homestead with livestock that cost money to keep healthy ( food, minerals, hay, etc ). I wanted to sell off the livestock, but watching the cows and goats makes him happy, so the livestock will go once he no longer gets pleasure from them. So right now, caring for a house, husband, livestock, paying the bills, working a fulltime job, cooking, cleaning, complete stress level is beyond a 10.

[alvaesmeralda]

10… right now I'm supporting my partner. it is very difficult to get it together financially. a big part of me wants to blame it all on him not having an income, but i know i'm part of the problem too. my anxiety and stress about work and money, my bad experience at handling money and above all my mental illness are doing an incredible amount of damage. i spend to feel good ... i drink more and more ... i have some credit dept and i owe my family and friends a lot of money ... i feel so bad every day ... the only thing i can do is to try to get better and do what I can to feel better and hope my partner gets a job pretty soon... but it feels lika everything slowley is falling apart… i dont want life to be like this…

[tinaking]

I’m a 10 for sure. When my money is funny I can’t focus at all. I completely shut down.

[momoftwinsx]

This is me. I’m more depressed than stressed. I don’t want to do anything but lay in bed when I’m not working.

[daniellereid]

I'm definitely like you, Kyle. I'm a 10 and, after many years of suffering from financial abuse, I have such a hard time.

[joecutro]

Very helpful, thank you.
I eliminated all debt except my mortgage and built up a decent 401K for retirement which helped my mental health for years. Now, at almost 64 and facing a stagnant income spurred by our overblown capitalist culture in the US now followed by stock market declines, I have fallen back into anxiety about the timing of my retirement plans. Thank goodness for the tools I have learned in therapy and long-term recovery or I would be far worse. Every day I try to take one more step toward clarity around my finances and remind myself that I have more choices than I am usually aware of.

[ShazWag]

I'm 58 years old and have been cut off from my family. I have a lot of significant past traumas and recurrent depression. I'm alone and have current financial stress at 10. I'm about to lose my home and have no income. I have daily panic attacks, crying outbursts, and wake up literally shaking. I feel so trapped and overwhelmed that I can barely function.

[austindocherty]

I’m a 10. Thankfully, my understanding of my psychology has created great change in my personal philosophy which has resulted in financial abundance. I still save and think like my former self because I know how important being financially stress free to my mental health is.

[sarahcatherinemerry]

8/10 my financial situation impacts my mental health. My relationships impact my mental health the most and money really matters to me.

[kathleenwatson]

That's me! Spend to feel good. It has led me to a very dark place. Love this Kyle. The truth is painful.

[unconditionallov]

Listening to this has described myself to a T and made me truly realize I’m not alone. Thank you for putting this out there it really helps.

[nineangels]

5- right in the middle. I have the money... but don't want to mess up & lose it. Because I came from "not having enough" there is a fear of going back to that place. Even though I'm not spending much, being practical & frugal & I'm still careful.

[jeffreypollan]

Thank you, Kyle! Preparing a budget has been on my to-do list for a long time. Maybe it will become more of a priority now, since my financial future is uncertain. Two years ago, I was employed, in debt, and very resentful towards my employer. Then, a month after the lockdown, I was furloughed, which was just the first step in being discarded. The interesting thing is that all my credit card debt got paid off. There were no longer opportunities to attend performing arts performances, no going to relatively inexpensive restaurants, severance pay, government stimulus money, and family help. I was also no longer paying a therapist who was no longer a good fit. I am retired, at least for now. Watching MedCircle has been very helpful in helping me through this transition period.

[jewelie]

I’m definitely a 10, it’s a huge stress, especially trying to live on such a small tight budget as a single person trying to survive in this economy. But when I have an extra several hundred dollars in my bank account and know I can pay my bills… which sadly is reliant on bad things happening …aka when my living room flooded and I got reimbursed I’m too afraid to use the money to purchase what was destroyed bc my buffer will be gone… with that extra money I don’t have to juggle bills and my stress is way down. Also, if a person wants to see me come out swinging they only have to mess with my money. That’s why my narcissistic soon to be ex husband has been “punishing” and abusing me with money for the last three years. I definitely stress less when life isn’t so tight but unfortunately it is right now. I already have the hopelessness of being in debt to school loans for what I will imagine will be the rest of my life, this stuff is for sure a huge stress and impact to my mental health.
Money can’t buy you real love or happiness, but it ABSOLUTELY buys me freedom from this stress.