2023-08-24 17:16:32
Money problems can affect social life and relationships. It is possible to feel lonely or isolated, or that the person cannot afford to do the things that he wants (Getty Images)
“Mighty gentleman, gift money”, goes the saying, and not only in everyday life, but also in health. There is ample evidence that a person’s financial well-being can affect his or her physical health, and vice versa. People who are struggling financially are less likely to visit the doctor, pay for and take medicine, eat healthy, and even exercise. Everything affects their physical health, but mental health also suffers.
The Financial Health Institute, a US organization that creates and provides education for people experiencing financial stress, defines financial health as “the dynamic relationship of each person’s financial and economic resources as they apply to or impact the state of physical, mental and social well-being”.
Financial health and mental well-being are two important aspects of our lives that are often considered in isolation. However, both concepts are deeply intertwined and play a crucial role in determining our overall health and happiness.
Dr. José Sahovaler, psychiatrist and psychoanalyst. Author of “La Erótica del dinero”, a full member of the APA (Argentine Psychoanalytic Association), where he is director of the Publications Department, explained to Infobae that there is not really a financial disease, but what can make you sick is the way in which we think and live money.
It’s possible to feel guilty about spending money, even if you know you can. Also feeling guilty for asking for money, even if you need it (Getty Images)
“I don’t think there are financial diseases unless one assumes greed as a disease. What does exist are the effects of money, of having it and of not having it. Money carries a share of inherent suffering. The money is born as sacrificial money, it was what the votive victims were paid for the sacrifices with. And he’s dripping with blood, so to speak. In that sense, money generates psychic effects. It is not that there is a disease of money ”, he explained.
And he added: “Those who do not have money, logically suffer for needing it, but those who have it also have a bad time: they wonder if they have invested well, if they should spend or save, envy their neighbor and many other situations. It is as if he gave up my limited time of life, only to add more and more. We all suffer for money, we are crossed by sadomasochistic thoughts: even if we have it, we suffer for it”.
The doctor indicated that there are also psychosomatic diseases, “where there is numerical thinking and where money is like a kind of psychic representative of the bad processing of psychic conflicts. But there is also greed, there is greed, there is envy. All this causes sickness and pathology and suffering”.
The expert added that in 2001 there were many heart attacks, “due to stress and the way money is thought with the body. This homologation of money to the drive inevitably leads us to postulate the bodily, physical, organic effect of money. In psychosomatic patients it is common to see pathological effects of money, such as a heart attack after losing a sum of money, hypertension or dermatological pathologies”.
Learning financial education is essential for proper daily decision making. The objective will be to maintain financial health and avoid economic problems
According to The Financial Health Institute, mental health and money are interrelated and this can be expressed in different ways:
– A person who feels depressed may lack motivation to manage their finances. She may feel that it is not worth trying.
– It can also give you a brief euphoria, so you may overspend to feel better.
– Money problems can affect social life and relationships. It is possible to feel lonely or isolated, or that the person cannot afford to do the things that he wants.
Money can also produce different feelings in people:
– It is possible to feel guilty about spending money, even if you know you can do it. Or, you might feel guilty about asking for money, even though you need it.
– You may also be afraid to check your bank balance or talk to the bank.
– It is possible to feel tired or exhausted, especially if you have been struggling with money problems for a long time.
Dr. José Sahovaler explained that there is not really a financial disease, but what can make you sick is the way we think and live money
A person is financially healthy when he spends less than he earns, pays his bills on time, has enough money for everyday expenses, has long-term savings, maintains a clean credit and banking history, has insurance appropriate to their needs and has a retirement plan, according to the same specialized institution.
If these conditions are not met, you could be suffering from some of the following money-related diseases that prevent you from having your finances under control.
1. Overspend. When a person is unwell, he may spend more money than he wants or can afford. You could do it to feel better. Some people describe this as a temporary euphoric feeling. It can turn into an addiction to compulsive shopping.
2. Gambling addiction: You can also have a dependency that makes you spend money. For example, if you are addicted to gambling. “It’s about the uncontrollable urge to gamble no matter what consequences that has on your life. This can stimulate the brain’s reward system in a similar way to illicit drugs or alcohol, leading to addiction,” the Mayo Clinic defined, adding: “The person with a compulsive gambling problem may continuous bets that lead her to lose, deplete her savings and get into debt. It is possible that he hides the behavior from her and even resorts to theft or fraud to feed his addiction. The entity stated that while treating compulsive gambling can be challenging, many people struggling with it have found help through professional treatment.
The crematomania or addiction to money is, in reality, the accumulation of goods of any kind
3. Financial stress: According to the Financial Health Institute, it is the condition resulting from financial and/or economic events that create anxiety, worry or a feeling of scarcity, and is accompanied by a physiological stress response. “Normally, as this stress increases, a person’s financial health status declines, also creating a detrimental effect on physical health. Chronic financial stress is the typical interrelationship where financial and physical health impact each other.” Chronic stress affects cognitive ability, memory and learning. Increases the likelihood of sleep disturbances and the likelihood of future and/or chronic financial stress and/or other behavior-related illnesses, including cardiovascular diseases, diabetes, and obesity.
4. Addiction to money: It is called crematomanía in psychology and implies the accumulation of money and goods of any kind. This disorder is difficult to diagnose and also to treat, since the symptoms can go unnoticed at first. Some of its signs are: people think about money most of the time; they do not enjoy achievements, because they are always thinking of getting more; they associate money with full happiness and approve or disapprove of people, depending on their economy. They can reach family, social, judicial, moral and ethical transgressions, recurrently, without being able to control the behavior and its consequences on their own.
5. Financial Abuse: If someone prevents a person from having access to money, this could be financial abuse. Also if you use money as a form of control. Abuse is often carried out by a partner, but it can also come from other relationships (for example, family, friends, and carers). Financial abuse in the home, whether accompanied by assault or physical violence, can leave a person feeling isolated and trapped.
When it is from a relative, friend, partner or caregiver, it can occur if someone, for example, withdraws money, collects a pension or obtains credit without the knowledge or permission of a person. Financial abuse by a partner can occur when someone prevents another person from working or going to work, college; demands accountability at all times or prevents access to bank accounts.
Economic crises increase problems in different areas of mental health and relationships (Getty)
Dr. Sahovaler indicated: “To avoid getting sick from what happens to us with money, you have to be able, somehow, to isolate yourself from this world where the value of the other is thought only in quantitative terms of how much money you have or how much you no longer have. The worth of people goes through many other places, not just through the car or the house or the capital they have.
In some cases, to get out of the problem, psychological consultation is necessary.
The Financial Health Institute advises if you have problems with money:
– Tell someone you trust if you are spending too much or having mental health problems.
– Give the cards to someone you trust or keep them in a place that is difficult to access.
– Eliminate applications in which you normally spend more or that encourage spending.
– Some people find it helpful to avoid credit cards altogether.
Other recommendations are:
– Identify problems and put together a budget. Have control of expenses: there are applications that can help.
-Modify the budget to give priority to the goals that will help reduce financial stress, control personal expenses and always pay the cards.
– Learn financial education: it is essential for making adequate daily decisions. The objective will be to maintain financial health and avoid economic problems.
Keep reading:
From joy to fear: the role of emotions in times of uncertainty and crisis What are cognitive biases and why it is important to recognize them Mental rumination, that “loop” of thought that traps us in yesterday
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