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The Impact of Financial Anxiety from inflation on Mental Health and the role of Shame

As a mental health therapist, I've been noticing more financial anxiety in our clients presumably from the growing inflation, coupled with the holidays soon approaching, a notoriously expensive time of year. The insecurities stemming from our economic uncertainty seem to be having a profound impact on people's mental well-being and I have noticed that there's a core ingredient making this worse, shame. Shame is tied into the beliefs we have about ourselves and our identity. This is an internal feeling. Financial challenges trigger feelings of inadequacy, frustration and shame.

Sometimes these feelings then lead a cycle where their shame leads them to avoid their financial issues and their growing financial issues lead to more shame and the cycle repeats. We judge ourselves and we feel judged by society.

The thing is though, you are not alone. So many people feel insecure financially, even the people who have a lot of money. How we feel about money and about ourselves in terms of how much money we have, goes way back. The actual amount of money doesn't usually matter.

I want people to know that they are normal and this is something that can be worked on, core beliefs can be challenged and worked through. We help people understand themselves, their beliefs, and their money related behaviours such as overspending, avoiding signing into your banking, or hiding purchases from a loved one, to name only a few.

Financial anxiety often spills over into personal relationships, leading to conflicts and strain on family dynamics.Sometimes this anxiety can manifest in physical symptoms like insomnia, headaches, and even more severe health issues.

If you find yourself experiencing constant worry about finances and or feeling shame, making it challenging to relax or focus on other aspects of life it might be something to consider bringing up with someone you love and trust to speak to.

Reach out to us if you would like to see a therapist who can help you to navigate financial distress and shame. BOOK APPOINTMENT HERE, we offer virtual as well

~Laura, Clinical Therapist

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