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Financial stress & mental health (my strategies)
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- เผยแพร่เมื่อ 6 ส.ค. 2024
- 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
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.
You are so lucky! Honestly ❤️
I really love my country Georgia 😻😂 but oh boy, as I get older, very often think - what if I was born somewhere else 😁😄
Another Aussie here. Just had eye surgery worth $4000. Didn’t pay a cent except $30 for antibiotic eye drops.
Canada is similar although I wish dental, and optometry were covered. Psychiatry is covered but not therapy or psychology.
American food and our freedom to eat all the Big Macs and Coca Colas we want is a reason why our health care system couldn’t keep up with the demands necessary to care for everyone.
@@stelmosfire11 letl lol l pm l
Im at a 10. My money issues cause me extreme panic attacks and triggers extreme depressive episodes for me. It's horribly stressful :(
I'm exactly the same. Every word you say. Sending hugs ❣
Same, I got Telogen Effluvium from all the stress
Same here !! OMG… I took my last $50k out of savings to pay iff the debt from my marriage ( credit cards). The separated wife go to the money and now I have nothing. I am bankrupt and freaked out. I made a lot during the marriage, but she spent it, but this is a slow year and I am dying inside. It is affecting my work! I have the same issues as he does!!!!
Same here !! OMG… I took my last $50k out of savings to pay iff the debt from my marriage ( credit cards). The separated wife go to the money and now I have nothing. I am bankrupt and freaked out. I made a lot during the marriage, but she spent it, but this is a slow year and I am dying inside. It is affecting my work! I have the same issues as he does!!!!
Same here. Leaving paycheck to paycheck no savings. I got laid off 5 months ago and now I am afraid of getting laid off again
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 😒😞
Your not alone ❤️
same situation here
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.
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
For years I struggled with outstanding debts, bills and my children's school fees. I was at a point where I wanted to give up. I came across every TH-cam channel about how to make and multiply your income through passive income. Fortunately, I had saved some money and decided to start an investment, Now I have bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that doesn’t believe in investing.
Hey Joy,currently, I am in dire need of investment advice or tips. Last year, I hesitated and failed to take any action until the year concluded. However, this year, I am determined to try something new, as I am very receptive to various investment ideas.
I highly endorse the services of Regina Louise Collaro, a US-based financial advisor and consultant. Partnering with an international organization, she has been instrumental in guiding my financial journey with unwavering support until my goals are met. Selecting the right financial consultant is as crucial as finding the right life partner, as both can significantly impact your life's trajectory. I'm grateful to have found the perfect financial consultant who has helped me achieve my financial objectives, from education to nearing retirement.
I appreciate your advice. It's hard to find someone that's reliable. When I see how much you've made investing, I could really use your investment advisor. That is, if you don't mind sharing her information
you can easily find her information by doing a quick search. Feel free to reach out to her directly with any questions you may have
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…
I feel you 100% I’m in the same life boat and we’re supposed to get married this year. I hope your situation got better.
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.
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.❤️
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.
COVID relief for home owners?
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, etc......My complete stress level is beyond a 10.
Millions of people can relate to this topic. Thank-You for sharing the info. Kyle!☀️
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.
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.
I am a 15....trying to recover from financial abuse, lost my job. Things are looking grim😮
Money worries and the death of a friend's son in a drug overdose were the catalyst to my Suicide attempt.
I’m a 10 for sure. When my money is funny I can’t focus at all. I completely shut down.
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.
In between HS and university right now and there truly is something particularly dehumanizing about getting in, getting a scholarship but still being unable to attend because it's still too expensive. It's heartbreaking
This was very needed ! Thank you 🙏🏼…
I had a zoom meeting yesterday with mental health professionals and it was basically a very painful wake up call.
For so long I just pretended to be fine with my finances as I rely on my parents but now I feel the pressure of my parents wanting to cut me off and it is a real fear.
I really wanna run away from this but I need to face it 🙏🏼
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.
This came at the exact right time! Thank you ♥️♥️♥️
That's me! Spend to feel good. It has led me to a very dark place. Love this Kyle. The truth is painful.
Love u guys so much! Thank you for taking the time to remind me to focus on my financial health to help my mental health 💗😃
8/10 my financial situation impacts my mental health. My relationships impact my mental health the most and money really matters to me.
Thanks for another great and helpful discussion. Can you have some therapists discuss money in relationships? And how to get on the same page or a peaceful compromise with budget and spending, etc. And can you also discuss tools for people to have a healthier individual relationship with money if it causes them anxiety even when they have enough of it or are in a pretty good place financially or don’t have that much debt?
About 40%, I’m more stressed about my loneliness and feeling I’ve outgrown my friends. 😥
What we all need is relaxing music.
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.
How did it get paid off? Was it something offered through COVID?
@@angelafriedland4971 I think I explained that in the next sentence. Plus, there were refunds from canceled events.
This has been me for years! Thank you for this!
Thank you for sharing and being so open!
Thank you Kyle for presenting this session, many of us relate especially to the current day while facing inflationary effects on “all fronts” complicating the flow of $$$. Financial stress does burden our minds therefore our day-to-day lives. 👌❤️😊
I feel so stressed. It’s because at times, you spend more than you had planned. For an example, I have an event to go to, and my shoes breaks. The solution is to buy new shoes, that ends up costing $40. I hadn’t planned that expense and overall, it ends up increasing my daily expenses. 😢
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.
Thank you, Kyle! I needed to hear this
I needed to start working on a budget. I have been frustrated trying out apps. This one is already feeling like a solid, clarifying, organizing experience.
So how do you manage your money and mental health problems when you have zero income? 🤔 There’s where I’m at right now!
I keep applying for jobs all over my country, but nothing gives. Due to this for months and months, I’ve slipped into a deep depression and have given up on ever finding a job again (I’m in my 40’s).
I hear you. I have income but my outgoing is more than incoming due to me helping my son cause my credit history is crap and I didn’t want him get a bad credit rating
Thank you, Kyle. 😊 God bless.
Kyle, Thank You for this video...I too work the Dave Ramsey plan...I have debt now due to auto repair, pet medical expenses, school loans...My credit store is at 825...What is really-really causing stress is the insane rent increases, some doubling...so it is daunting to think of how to meet the impending doom of more increases...My budget does help with the present and future planning...Currently living in San Diego, may have to come to the reality of having to move out of state...Very scary...In Gratitude Kyle...💙
If it's any consolation, you're not in that boat alone by yourself when it comes to needing to leave that over burdening state. I'm in a similar situation in Taxachussettes. Good luck.
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.
Thank u for such an informative video. It opened up my eyes on a few things that will helpful as I’ve just gotten out of $50k in CC debt. NEVER AGAIN! You’re an incredible speaker by the way.
Wow, how did you do that. Amazing🎉
Thank you I really appreciate these videos.
What is it about being obsessed with getting out of debt for years, but once out, thinking it is fine to go back into it?
you have no idea how much this helped me, plus ♥ Dave Ramsey
7 or 8! Very stressful! Thanks for the honest video.
Yesss, this is great.
Thank you Kyle! Thank you MedCircle! This is so important!!! In my 20s, I'd be a 10. Now, in my 40s I'd be a 5. I try to live by grace and realize I'll be okay. I can't allow money issues to stress me out like I used to.
Super video Kyle!👍 It is such an important topic, in today's world more so than ever! On a number scale I most definitely would be on the high side, if I had to present it in pie form, there would be such a small piece left, that I couldn't even enjoy it, I'd be so stressed 🤪 I did take note a long time ago on just how much my financial situation can directly impact my mental state and health, both positively and negatively. I have in the past and guilty of that group who would track where expenses went, thinking that was some sort of strategy, then realizing of course it's if little value if it stops there 🤔. I have to be honest, there are a few select words in the English language that I have have always had some weird unspoken adversion to any budget is one of these, I'm not sure why really, I think mainly because I know myself to be honest, loyal, committed, rational, logical,(okay that one maybe a little sketchy), but disciplined, not so much. I will say that the concept of it, has sparked my interest before, I have seen Dave's show before long ago, as well as the lady who had a popular show on financial matters (see how bad it is, I can't even remember her name right now)🤔 but anyway I found the video very enlightening, and informational, and so on 🎯 and extremely well presented 🙌
Your hair is perfect. Thanks for sharing.
It just takes so long to finish financial goals. I am saving 21% of my net income towards my emergency fund, and it will still take me over a year to finish saving for it. Also, I have a mountain of debt, $35,000 to pay off. Which will take me another year and a half to pay off. It just feels like such a long battle.
My financial stress definitely redlined for years, due to health issues. I took drastic measures--moving to another country where the dollar is incredibly strong--and it's been such a game-changer for my mental health--yay!
So are you still being paid American dollars
Assuming it's an online position?
Great talk on financial insecurities.. I was 7 before converted my credit card balance from 18% p.a to 3.88% p.a.. you are a great asset Kyle 😁
For me it’s 1000000/10 on that scale
It impacts my mental health at a 10
I’ve thought of ending my life sometimes, drowning in debt, can’t go out and enjoy myself with friends, and basically need a higher paying job if I’m to stand a chance of being able to pay it off as soon as I can, but I can’t seem to find a job, even if it’s a job that starts with lower pay and gradually increase
'You' are fab Kyle . . . I know I would not 'know' to reference the fabulous
MedCircle and then rec. to A LLLLOT of pple incl. strangers going through
hell due to present crises, pandemic, uncertainty in all various areas.....
if not for your truest self.
One note... I truly think specialists with varied academics 'need' to also
be forth coming on why they feel they 'must' or 'choose' to charge
insane money as they do. This is touchy of course as your specialists
DO give a lot of resources for free via the channel & website.
The majority of specialists do not. I understand the costs of education
must be paid off...then there is costs of running a practice incl. insurance.
But . . . it needs to be addressed and answered to. It would be impressive
to hear about...we will see I guess. Again thank 'you' Kyle.
A total 10!
10! I'm facing level 10 stress while starting to watch this video. Are there any resources that can help dealing with financial hardship caused by narcissistic family members? Its a double whammy and I'm unable to deal with it alone
I am a 8 to 9. what is sad is I cant talk to any family member. I tried asking for a raise to alleviate. sadly after a year I got some raise. then when an across the board raise came I became automatically ineligible as I received a raise within the past 6 months. this put me back as the system worked against me also. I grief myself. I can reduce my spending but not my family's.
Substitute money for well being….. because our society runs on money… so of course if you have no money it greatly impacts your well being …. And we have lots of people hoarding well being and opportunity
Great topic! I'm about a 5.
I graduated with a BA in psychology. I didn't go further into school because I was terrified of student debt also I think it's immoral to burden the mentally ill with massive debt.
Omg im currently getting my BA in psychology how were the classes?
Thanks for that. Although not in debt and has reserves, I'm in immense stress
My question is about the relationships with money and what is related to that : the sense you can make a living, being scared from the future, anxiety, yes, but also:
The relationships can be suffocating, even if you are doing all the budgeting well, and well earning. Because it's not only about the balance and future calculations, right? But about the sense of stability and capacity to make it on your own
70% it can and has wrecked my MH
Eight, all my life, regardless of income.
Definetly a 8 or 9 people are born into poverty.I know most people who have mad skills or are very smart don't believe this.I struggled through Grade school and high school like my father,I believe I have his genetics doing bull work all my life never pushing a pencil like my youngest brother. Gifted people have an easier time getting by with a much better aptitude and less limitations in life......
I am going to take on finding freedom
I’m dead inside from my financial situation over the past year, I need help & advice on how to get past this financial struggle to get through my life , please help 😢
10!
Having people paying me on time will reduce my depression almost completely. I own my own business and people just dont pay and I'm constantly in debt. So how do I make a budget when people dont pay. Also my company is aircon and refrigeration. You cannot know when you will have to pay in to making mistakes. I cannot budget what so ever.
Very little therapists help with this. And I cant move or get out of bed - but that’s the opposite of what I should do 😖
10, always
10/10
10. Always a 10.
10 get very low pay at work and triggers my mental health to worry about bills
👍❤️
9 haha
Even though i know i have enough money,i sometimes can't even pay for my meds.. Sometimes even 5€ paid for unimportant stuff stresses me out,really anxious about it
It is why I fell into depression, and got anxious about everything. Getting help for it costs more money so that's f***ing great.
It's maddening so y'know, all debt feels like a burden when you don't have money
Feel like you were right on the money today for this…see what I did there? 🤙🏼😂
10!!… single parent grad student completing 30+ hours unpaid internship and 2 jobs…regardless money has always been a major stressor
My mom got paranoid schizophrenia because of my malignant narcissistic father' financial abuse.
16:24 Changing your relationship with money is about much more than just fixing your financial situation, though
I don’t spend to feel good. It’s June 2024. Only spend $$$$ on rent, food, utilities, & gas. Buying anything else actually gives me stress. Trying to save but even that will never be enough. Priced out of health care, home ownership, vacations, nice cars, entertainment…just working n living. Not what I thought my 60s would be
the groceries prices keep on rising...every months thinking about food to eat
13:49 exactly
Man. this is some good sh_ t your mouth. This channel is a lifesaver. Financial troubles has a lot to do with your spirtuality. Bad management. Usually means bad relationships.👍Great Stuff.
I'm a 7 to 8 in distress. Never cared about money and not in hurry all the time. It's just i'm 42 and got nothing under my seat to handle. That's starting to trigger anxious states. Never as much distressfull as my syster's movement that they make like 300/10 of terror in my mind. I work and got no family, just a few decades in debt i can manage with just my job. Worrying about my sys finances 1000% now...
10 overload stress.
This is my problem now, since my plant closed I'm way behind on everything, I picked up a gf who doesn't work and is pregnant with my kid. My job now doesn't cover cost of living and if it keeps up I won't have a paycheck to paycheck I'll just be overdrawn
Same here !! OMG… I took my last $50k out of savings to pay iff the debt from my marriage ( credit cards). The separated wife go to the money and now I have nothing. I am bankrupt and freaked out. I made a lot during the marriage, but she spent it, but this is a slow year and I am dying inside. It is affecting my work! I have the same issues as he does!!!!
Need my roof replaced, furnace replaced at the same time, cost of groceries and living skyrocketing while living paycheck to paycheck, two kids and now on my own after 15 yrs of marriage... Ya I'm a 10.
I am crying rn, my financial stress at 10
When my father got CKD. My family and i became more eat a small portion every day, so we can save a money for my father's kidney dialysis. The average salary of the Family is 12,000 php a month and the kidney dialysis is cost 1,500 php per day every week. This is now the starts of the family's starvation could create Chaotic impact against the family's vitality. I grieve because I've nothing to do as a student, just a father's intentionally deprive her health whichs the fundamental cause. I couldn't cope with it when now we're facing financial stress and health crisis. Now we're on dept.
10
Must add that I was at about a 9 maybe even 10 but that was 2 1/2 years ago and now I’m at a 5
That’s where I hated accounting.
My husband's a 10 I'm a 4 on the scaling question.
I’m a 10 at the moment I’ve always been good with money always had savings had stocks and shares always been a saver.
But recently been made redundant 3 times in 1 year it’s been the worst year of my life spent all of my savings had to cash out all my stocks and shares to pay for my bills.
Lowest I’ve ever felt literally got no money I’m borrowing money off my parents to pay my bills untill I find a new job and I hate the fact I’m taking money on my family to pay for my stuff
I'm a 10
10.
But what i can't get a handle on.... is my wife refusing to follow the budget. Her only response has been....well make more money.
How well do you include her on all the incomes and expenses? Rhetorical question obviously, but facing someone with a budget is more about control than sharing responsibilities.