The Mental Aspect of Surviving Financial Hard Times

Financial problems are one of the leading causes of stress for the average individual, with over 70% of people listing it as their number one cause of stress. This fact only becomes more prevalent during times of financial hardship when we see our buying power drop through low standard incomes and inflationary consumer pricing. We see costs increasing at the pump, groceries, department stores, rent pricing, and even restaurants. With all this happening, the question is how we handle the mental aspect of these trying times. 

How financial stress impacts your health.

As stress levels increase, we can see it affecting an individual’s physical state as well. This mental taxation can lead to poor sleep and even poor eating habits. In an attempt to retain money, many individuals will work longer hours, leading to exhaustion and burnout, both of which can wear down their physical and mental health. So, it’s easy to see how this could create a dangerous cycle for those struggling financially. 

Furthermore, as budgets tighten, many people tend to spend less money or consideration on their general health. This could be an avoidance of the doctor and regular checkups, easy low nutrition diets, and more time spent attempting to “vent out” in front of the television or other entertainment outlets. Unchecked, this can lead to anxiety and even depression. Many families have reported financial problems to be a leading cause of dissension and separation, one of the phenomena we see an increase during hard times. 

Coping with financial stress.

Alleviating the financial burdens would be the obvious choice for reducing one’s stress. Finding ways to increase your income, better save and invest your current money, and reduce expenses would be the main three methods by which you would address these hard times. 

When auditing finances, an individual should look at all the ways they spend money, and determine what expenses are a priority and which one’s can be reduced. For instance, one might look to shop at a lower-priced grocery store, use resale shops, maximize their gas mileage, consolidate high-interest debt, or increase home utility efficiency. These are just a few examples of ways in which you could cut back on monthly costs. 

Of course, these methods can take time and effort, and in the meantime, it’s vitally important that you make an effort to prioritize your mental wellbeing. Adopting practices that allow you to work through these mental issues before they become large problems can be very helpful in trying times. This could be meditation, therapy, or time spent with family and friends. 

It’s important to understand and accept that things may be different for a time. Learning to cope ultimately means adjusting your lifestyle and expectations to meet the current struggles at hand. 


It’s important not to underestimate the weight of financial hard times. As prices rise, it can bring worries and insecurity over one’s ability to continue providing for themselves and their family. Some might begin to question their abilities or even worth. 

They may wonder whether they will be able to afford food, their current living situation, as well as experience concern over where they will be in the future, and how it might affect their plans and dreams. 

Staying proactive is the only way to mitigate these problems. Reduce your expenses and find ways to stretch your dollar. If you find things becoming too difficult, don’t be afraid to reach out for help, or maybe even just find an ear to listen. Setting yourself in a good position now will pay dividends when things begin to relax or return to a state of normalcy.