Bear Market And Mental Health
There is a fine line between money and mental health and wherever the situation you are in (money-wise) should not affect your mental health for any reason. They are linked, this is true but again mental health is much more important than financial well-being. In an ideal scenario, you should be mentally and physically and also financially healthy. But to become that financially healthy, you should not affect the other two.
I know we are in the middle of a financial, cost-of-living crisis where most of the households in the world are wondering how to make ends meet. People who are living paycheck to paycheck are unable to spend an extra bucks for the increase in prices and other things. Thus it is natural that the person's mental health might suffer, where the bills of each thing are steeply increasing.
Now how can we improve our mental health going forward, whether through external help or through ourselves? First of all, the employers can come forward to support all their employees by doing a financial session and trying to educate everyone about the savings culture. Next for individuals, they themselves have to have that habit so that in future if this types of times come they will be well prepared. Financial Well-being means a healthy nation as well as a healthy world.
In offices, you will be seeing physical or mental training going on every now and then, but never there was a financial well-being session. I know finances are different for different people but educating them is a challenge because after the session it will be less tangible to measure, unlike other things. But that does not mean that it should not be started. I am not saying it is the employer's responsibility, they are giving the salary and it is up to the employees to manage it.
But again since money matters are linked with mental health, it is not always that mental health can be resolved if not talked about financial health. People who have saved up a little are able to sustain in this situation because they have the buffer at this time but similarly who do not have anything in their savings are actually in not so great situation. Because of that people started taking more loans and thus getting into that debt trap.
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