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Coping with financial stress

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Effects of financial stress on your health

1.

Insomnia

2.

Weight gain/ loss

3.

Depression

4.

Anxiety

5.

Relationship difficulties

6.

Social withdrawal

7.

Physical ailments (e.g. headaches/ gastrointestinal problems etc.)

8.

Unhealthy coping mechanisms (e.g. alcohol/ drug abuse, overeating etc.)

The vicious cycle

1.

Financial problems adversely impact your mental health

2.

Poor mental health makes it difficult to manage money

3.

These difficulties managing money lead to more financial problems and worsening of mental health problems

How to deal with financial stress

1.

Talk to someone you trust

• Open up to your friends and family

• Let them express their concerns

• Make time for (inexpensive) fun

2.

Get professional advice (e.g. organisations that offer free counselling on dealing with financial problems)

3.

Take inventory of your finances

• Include every source of income

• Keep track of all your spending

• List your debts

• Identify spending patterns

• Look to make small changes

• Go easy on yourself

How to deal with financial stress

4.

Make a plan and stick to it

• Identify your financial problem

• Devise a solution

• Put your plan into action

• Monitor your progress

• Don't get derailed by setbacks

5.

Create a monthly budget

6.

Manage your overall stress

• Get moving!

• Make time for relaxation

• Don't skimp on sleep

• Boost your self-esteem

• Eat healthy food

• Be grateful

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