According to the Money and Mental Health Policy Institute, people with debt are three times more likely to experience suicidal intensity because of the debt. A study by Northwestern Mutual found that 44% of Americans states that financial worries were their #1 stressor, with about one in four stating like they felt depressed about money at least once a month.
Sometimes improving your mental health looks like going to a therapist; sometimes it looks like going to a financial mentor. What most people don’t realize is that many Employee Assistance Programs (“EAP”) have financial counseling services for this reason.
In this episode, I speak with Robert Khachatryan about financial wellness and its connection to mental health. He shares these take-aways:
Provide the tools for financial preventative care.
Create a financially safe space.