Back
Home » Health
  •  
    Filmi Bollywood
    • Ranveer Singh, Alia Bhatt Are ECSTATIC About Gully Boy’s Oscar Entry; 'Making A Mark On World Stage'
    • Vicky Kaushal Compares Playing His Sardar Udham Singh Character To His Takht Character
    • Karan Johar Reveals He Cried When Article 377 Was Abolished, Says Next Is Same-s*x Marriages
    • Tiger Shroff Approached For 'Khalnayak' Sequel; Sanjay Dutt Confirms & Reveals Details!
    • Kiara Advani On Being A Part Of Bhool Bhulaiyaa 2: I Am A Huge Fan Of 'Bhool Bhulaiyaa'
    • Happy Birthday Kareena Kapoor Khan: Actress Shares A Kiss With Saif To Begin The Celebrations!
    • Rahul Bose Pledges To Donate Organs: 'I'll Pledge Every Square Inch Of My Body'
    • CONTROVERSIAL: Urvashi Rautela Breaks Silence On Her ‘INAPPROPRIATE VIDEO’ With Boney Kapoor
    • Sonam Kapoor Opens Up On Suffering From Skin & Body Insecurities When She Was Younger
    • Yami Gautam To Devote Time For Organic Farming After ‘Ginny Weds Sunny’ Wraps!
    • Gaadi Mein Aana Hai Humare Saath? Obsessive Paparazzi Bowled Over By Janhvi Kapoor
    • Pal Pal Dil Ke Paas Movie Review: Karan Deol's Film Struggles To Stay Close To The Heart!
    • Isha Sharvani Duped Of Rs 3 Lakh By Fake Call Centre Employees; 3 Held
    • Karisma Kapoor, Sunny Deol Face Charges For Pulling Chain In Train During Shooting
Did You Know That Financial Wellness Is Important For Mental Wellness?
Boldsky | 13th Aug, 2019 02:34 PM

Financial wellness is nothing but the overall financial health of an individual and is also defined as financial well-being. Every single person, from a farmer to that of a CEO of a multi-national company values financial well-being and in the event of the lack of it, individuals crumble and fall, losing all hope and faith in life. One of the strikingly devastating real-life examples of the scenario can be understood from the sudden demise of VG Siddhartha, owner and founder of Cafe Coffee Day, who came to the heart-breaking conclusion that ending his own life was the best route to chose; due to the financial instability, the entrepreneur was facing.

On the other side, reports of the rising number of farmers' suicide in the country shine a light on the arduous truth that financial wellness is not an elite aspect, but something that plays a major role in the mental well-being of any individual .

A vast and complex area, financial well-being and its impact on mental health have been studied in different perspectives, with researchers asserting that it does indeed have a connection. With financial wellness mutating into a topic much discussed in the current scenario, various organisations and companies have made it a priority to discuss on financial and mental wellness because the health and well-being of each team member are directly related to the overall success of the business .

As asserted by Michael Kent, CEO of Azimo, "Rich or poor, it seems that financial anxiety is a part of modern life", and nothing is more accurate.

A never-ending cycle, financial wellness and mental wellness are linked to each other that the connection can be explained through an example. An individual undergoing financial problems are increasingly prone to stress, which is directly linked to one's mental well-being. Stress can cause damage to the immune system, reduce cognitive function and increase poor decision-making - which in turn contributes towards more financial instability .

For a person to achieve mental wellness, it is necessary to for that individual to be in control of their thoughts, emotions and behaviour; which in turn enables them to handle challenges, build strong relationships and basically, enjoy life. And when one is constantly worried about their financial stability, it leads towards causing stress and tension, which can elevate towards serious mental illnesses.

Also read: Exclusive: A Psychiatrist's View On Mental Health And Suicidal Behaviour

Some of the major factors affecting the financial wellness of an individual are overspending and late payments (late fee and interest). Various organisations have taken it upon themselves to introduce the importance of financial wellness as it is directly linked to one's mental wellness - studies reveal .

Making a budget and sticking to it is one of the primary steps taken towards improving one's financial wellness. Always make sure to have something saved-up for an emergency and make sure to allow yourself the occasional splurge as it is unrealistic and mentally taxing to restrict yourself from spending any money at all .

Consequently, it can be strongly suggested that financial wellness and mental wellness are resolutely linked with each other, where one is required to maintain the other. That is, financial wellness is essential for one's mental wellness and likewise, mental wellness is necessary for an individual to gain financial wellness.

   
 
Health and Life
  • 12 Amazing Health Benefits Of Mangosteen
  • Paranoid Personality Disorder (PPD): Causes, Symptoms, Diagnosis And Treatment
  • Skin Abscess: Causes, Symptoms, Diagnosis, Prevention And Treatment
    • How Does Your Oral Health Affect Your Overall Health?
    • 17 Tick-borne Diseases You Should Be Aware Of
    • 10 Nutritional Health Benefits Of Loquat
      • Chemicals In Beauty Products May Harm Women's Reproductive Hormones, Says Study
      • How To Brush Your Teeth Correctly
      • Celiac Disease: Symptoms, Causes, Risk Factors, Diagnosis And Treatment
        • Primary Amoebic Meningoencephalitis: Causes, Symptoms, Diagnosis, Treatment And Prevention
        • 19 Amazing Health Benefits Of Hops
        • Does Eating Too Much Sugar Cause Diabetes?
          • World Ozone Day 2019: Products That Cause Ozone Depletion And Their Eco-friendly Alternatives
          • Sebaceous Horn (Devil’s Horn): Causes, Symptoms, Risk Factors, Treatment, And Prevention
          • 10 Benefits Of Cycling For Your Health
            • Microcytic Anemia: Symptoms, Causes, Risk Factors, Treatment, And Prevention
            • Cyberchondria: How The Internet Can Affect Your Mental Health
            • Everything You Need To Know About The Hypercholesterolemia (High Cholesterol Levels) Condition
              • Fournier Gangrene: Causes, Symptoms, Risk factors, Treatment, And Prevention
              • Milk And Yoghurt May Help Improve Your Heart Health
              • World Sepsis Day 2019: Sepsis In Infants And Children