- Group Insurance Commission
Financial health is vital to overall well-being. While short-term stress can build resilience, chronic stress and worrying about money can lead to serious conditions like heart disease, diabetes, depression and anxiety.
Key strategies to help your financial wellness:
- Manage stress: Exercise, eat well, sleep, relax, and connect with others. These habits cost little and improve health.
- Understand your money mindset: Emotions around money affect behavior. Identify patterns and triggers to make informed choices, and recognize those patterns in other family members.
- Do the math: Track income and all expenses for a month or two. Create a realistic budget, cut nonessentials, and explore ways to reduce costs or increase income.
- Make tough choices: Living within your means may require lifestyle adjustments.
- Prepare for emergencies: Aim to save at least 3 months of essential expenses.
- Stay positive: Financial recovery takes time. Set achievable goals and follow a plan.
- Consider mental health: Financial stress and mental illness are linked. Seek help from health care providers or visit Mass4YOU for online financial resources or to speak with a counselor.
The cost of gambling addiction
The increasing popularity and availability of online gambling may have led to financial stress to someone you know or a loved one. Due to the addictive nature of psychological strategies like visual and auditory stimulation, and surprise rewards, individuals can become increasingly preoccupied with gambling. And the anonymity of online platforms can worsen the problem, leading to physical, emotional and financial stress.
Support is always within reach
If you are feeling anxious about a financial situation, little decisions or problems can quickly add up and affect your health and relationships. Mass4YOU can provide self-guided financial tools and live support.
