, money is a basic necessity to our wellbeing as much as health or relationships.
According to psychology expert Matt James Ph.D.
Having financial security could also be viewed as having a positive relationship with money.
FINANCIALLY SECURE DEFINITION FREE
Use this guide to find free and independent services.Į ngage with advisers – a referral to a money adviser is the first step. R efer to an appropriate debt agency (telephone, online or face-to-face). If you’re worried about your own or someone else’s debts, Wellbeing info recommends following this care procedure :Ĭ onsider debt as an underlying cause in stress-related illness, both mental and physical.Ī sk simple questions about debt emphasise the value of money advice early invention can prevent a crisis. Equally, if you can’t control your mental behaviour you will inevitably neglect your finances. If you’re having difficulty controlling your income and expenditure you may suffer from anxiety and depression each time you run into your overdraft and plunge yourself further into debt. Managing your finances and maintaining good mental health go hand in hand. Your lifestyle plays a big part in whether you will feel financially secure if you’re spending too much money on life’s little pleasures, chances are that the last few weeks of the month are going to be a tricky time for you. We may feel financially secure if we don’t have any genuine money worries – we can afford what we want, when we want it, and an unexpected cost or bill doesn’t throw us into a tailspin.
A recent survey carried out by the Money and Mental Health charity showed that a quarter of people experiencing common mental disorders are also in problem debt, three times more than people without.ĭebt can have a huge impact on our future if we don’t get it under control.įor instance, if you’re planning to buy a home, a poor credit rating could affect your ability to borrow money such as a mortgage but it’s easily fixed if you get yourself organised.įor many of us, the definition of feeling financially secure essentially means that the money going into your bank account is enough to cover all of your outgoings, and leave a comfortable amount afterwards, too. Perhaps being rich won’t make us happy, but feeling financially secure definitely plays a huge role on an individual’s overall wellbeing and happiness. We all say it – ‘Money can’t buy you happiness’.
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