The intersection of mental health and finances is a critical yet often overlooked aspect of well-being, especially for Latinas. This guide provides actionable self-care strategies to navigate financial challenges while prioritizing mental health.
The U.S. Department of Health and Human Services Office of Minority Health has officially declared July as Minority Mental Health Awareness Month. The statistics highlight a significant disparity: people of color are less likely to receive adequate mental health services, yet they are more prone to seeking emergency medical attention during a mental health crisis. Specifically, 25% of adolescents experiencing major depressive episodes identify as Latino/Hispanic. Furthermore, Latino students in grades 9-12 face a higher risk of suicide attempts and fatalities compared to other minority groups and non-Hispanic white individuals. This situation is particularly concerning for a community that may encounter barriers to accessing necessary support due to various factors. Therefore, self-care becomes even more crucial as a proactive measure.
As someone who has managed a mood disorder and navigated the complexities of finding the right medication, I understand the feelings of helplessness and numbness that can arise. I want to share coping mechanisms and self-care tips that have been instrumental in my personal mental health journey. These strategies are not intended to replace professional help but to provide support during challenging times.
Learn How to Self-Soothe for Financial Stress
Self-soothing is a powerful technique to manage stress, especially when dealing with financial pressures. It can involve self-regulation, where you learn to relax before reacting to a stressful situation, or simple affirmations that reassure you that you are safe and okay. When overwhelmed by financial concerns, remind yourself that you are capable and resourceful. Acknowledge your feelings and validate that it’s okay to feel stressed.
Woman journaling, a self-soothing technique for managing emotions and financial stress.
Write It Out: Journaling for Financial Clarity
Journaling can be a therapeutic way to process your thoughts and feelings about money. Whether you use a notebook or a digital document, writing down your financial worries, goals, and even frustrations can provide clarity and perspective.
- Track your spending: Documenting your daily expenses can reveal spending patterns and areas where you can save money.
- Set financial goals: Write down your short-term and long-term financial objectives, such as paying off debt, saving for a down payment, or investing for retirement.
- Vent your frustrations: If you’re feeling angry or overwhelmed by your financial situation, use journaling as a safe space to express your emotions without judgment.
Analyzing your writing can help you identify the root causes of your financial stress and develop strategies to address them.
Read About It: Financial Literacy Resources
Knowledge is power, and there are countless books and resources available to enhance your financial literacy. Your local library is a great place to find free access to books on personal finance, investing, and debt management. By educating yourself about money, you can make informed decisions and take control of your financial future.
Some recommended books include:
- “Rich Dad Poor Dad” by Robert Kiyosaki: A classic personal finance book that challenges traditional beliefs about money and investing.
- “The Total Money Makeover” by Dave Ramsey: A step-by-step guide to paying off debt and building wealth.
- “Broke Millennial Takes on Investing: A Beginner’s Guide to Leveling Up Your Money” by Erin Lowry: A great introduction to the world of investing for beginners.
Reading can also provide an escape from your financial worries. Immerse yourself in a novel or biography to temporarily detach from your stressors and recharge your mental batteries.
Learn Something New: Skills for Financial Growth
Acquiring new skills can boost your confidence and open doors to new financial opportunities. Consider learning a skill that can increase your income or improve your ability to manage your finances.
- Take an online course: Platforms like Coursera and Udemy offer courses on various topics, including budgeting, investing, and entrepreneurship.
- Attend a workshop: Local community centers and organizations often host workshops on financial literacy and career development.
- Start a side hustle: Explore opportunities to earn extra income by leveraging your existing skills or learning new ones.
Learning new skills can empower you to take control of your financial destiny and build a more secure future.
Talk to a Friend: Building a Support Network for Financial Challenges
Sharing your financial struggles with trusted friends or family members can provide emotional support and practical advice. Building a support network can help you feel less alone and more empowered to overcome financial challenges.
- Join a support group: Connect with other Latinas who are facing similar financial difficulties. Sharing your experiences and learning from others can be incredibly valuable.
- Talk to a financial advisor: Consider seeking professional guidance from a financial advisor who can help you develop a personalized financial plan.
- Don’t be afraid to ask for help: If you’re struggling to make ends meet, reach out to local charities or government assistance programs for support.
Remember, you don’t have to go through financial difficulties alone. Building a strong support network can provide you with the encouragement and resources you need to thrive.
Utilize Financial Wellness Apps
Leverage technology to your advantage. Many apps can help you track your expenses, manage your budget, and even provide guided meditation for stress related to finances.
None of these tips are a substitute for professional therapy or medication. If you’re struggling with your mental health or experiencing suicidal thoughts, please seek help immediately. Call the National Suicide Prevention Hotline at 988.
