Tips for managing financial stress and supporting your mental health
Money stress is real—and it can take a toll on your mental and emotional well-being. When you're feeling overwhelmed about finances, it’s easy to get stuck in a cycle: stress makes it harder to manage money, and financial challenges add to your stress.
But that cycle can be broken. By focusing on what’s within your control and taking small, realistic steps, you can start to feel more confident and stable.
Money affects almost every part of life, but it doesn’t define your worth. If financial stress is weighing on you, you're not alone—and there are practical ways to care for both your mental health and your financial well-being.
Reflect on your relationship with money
Start by checking in with yourself. Understanding your emotional and mental relationship with money is an important step toward finding balance.
Ask yourself:
How does thinking about money make me feel?
What beliefs about money might be holding me back?
(For example: Do I believe I need to be wealthy to be happy? Do I see asking for help as a failure?)
These reflections can reveal thought patterns that may be influencing your financial decisions often without you realizing it. When you start recognizing and challenging these beliefs, you can shift your mindset toward one that’s more compassionate and constructive.
Instead of tying your self-worth to your financial situation, focus on small, positive changes you can make today to build confidence and control.
Reframe financial challenges as opportunities
Yes, financial stress can feel overwhelming, but it can also be a powerful chance to grow and learn. Rather than viewing your situation as fixed, ask:
What skills would help me feel more financially secure?
How can I turn this into a learning experience?
You might decide to:
Learn the basics of budgeting
Explore resources for managing debt
Look into ways to increase your income
Even small steps in these areas can add up to meaningful progress. Change doesn't have to be big to be effective it just has to be consistent.
Prioritize your mental health
Money stress doesn’t only affect your finances it can take a toll on your emotional well-being, too. Here are some ways to stay grounded:
Acknowledge how you feel: It’s completely valid to feel worried, frustrated, or overwhelmed. Naming and validating your emotions are the first step to moving through them.
Reach out and ask for help: You don’t have to go through this alone. Support is available—whether through your school, workplace, local organizations, or by talking to a counsellor or trusted friend.
Make time for self-care: Even a few quiet minutes, a walk, or deep breaths can help you feel calmer and more resilient.
You’re not alone in this. By focusing on what’s within your control, developing new skills, and taking care of your mental health, you can move toward a more secure and confident financial future one step at a time.
Information for this blog was provided by registered social worker, Marcus Cheung and Momentum.
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