Title: Therapy for Money and Financial Issues
Headings: Money and Financial Issues
Money and Financial Issues
Types of Financial Problems
Money Problems and Mental Health
Poverty and Mental Health
Therapy and Financial Issues
Working with a Financial Therapist
Finding Affordable Treatment
Case Example
References:
Last Update: 03-24-2020

Content: Common responses to severe economic hardship can include: Anxiety or depression
Intense grief
Find a Therapist
Advanced Search
Detachment
Substance dependency, such as alcoholism
Erratic sleep patterns
Chronic overeating or under-eating
Overwhelming stress or panic
Physical complaints such as tension, nausea, or chronic pain
If a person lacks enough money to cover the costs of food, shelter, health care, and other basic necessities, he or she may face an increased risk of illness, injury, or even death. Poverty and Mental Health
Though poverty does not directly cause mental health issues, it can greatly increase a person's risk of encountering mental health difficulties. About 31% of people living in poverty have been diagnosed with depression, compared with just 15% of those who do not live in poverty. The lower a person's socioeconomic status, the more his or her risk of experiencing mental health issues increases. Life in poverty reduces access to quality medical care, which can mean impoverished people don't seek treatment. They may also not get the cutting-edge mental health treatments to which middle class people have access. But the connection between poverty and mental health doesn't end with access to health care. The experience of living in poverty is highly stressful, potentially exposing impoverished individuals to ongoing trauma. From losing a home to struggling to find a safe place to live and sleep, the daily concerns of life in poverty can erode psychological well-being.