The link between mental health issues & financial struggle is undeniable, & so is the gap in comprehensive care.
The link between mental health issues & financial struggle is undeniable, & so is the gap in comprehensive care.
Various studies have shown over and over again that mental health issues are directly linked to financial problems and vice versa.
A 2019 study published in the Journal of Affective Disorders found that individuals who reported financial stress were more likely to experience symptoms of depression and anxiety.
On the other hand, Mental health issues can lead to difficulties with employment, earning an income, and managing finances. This is especially true with Borderline personality disorder (BPD). BPD is a mental health condition characterized by intense and unstable emotions, impulsive behavior, and difficulties with interpersonal relationships. People with BPD often struggle with various issues that can impact their daily lives, including problems with managing their finances and the inability to hold gainful employment.
One of the most common issues associated with BPD is impulsive spending. People with BPD may engage in impulsive behaviors as a way to regulate their emotions, and this can include overspending or making purchases they cannot afford. They may also engage in behaviors such as gambling or other risky financial activities, which can lead to longstanding financial difficulties.
While therapy and support from a mental health professional are crucial for those with Borderline Personality Disorder, there is often a gap in care between mental health & financial health.
In this article by the American Psychological Association, Noelle C. Turner, PsyD, said, "I'm the working poor. I'm one or two paychecks away from living in my parents' basement." Being a mental healthcare professional does not necessarily mean they can help with money issues. Similarly, being a financial professional does not mean they can grasp the depth of financial problems exacerbated by mental illness.
It's essential to address both mental health issues and financial concerns simultaneously. Seek professionals that can encompass both, or find professionals from both lines of work who can collaborate together to ensure the most effective outcome.
Do you need help finding a financial professional?
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