Financial Stress and Mental Health
What do the price of eggs and minimum wage laws have to do with mental health? It turns out there are direct ties.
Consider:
-
Burnout from financial stress may lower job satisfaction.
Based on the employees’ responses, those who were more stressed over current money management had a higher rate of burnout, and thus, lower job satisfaction.
The mental health of Canadian workers has dropped below levels last seen at the start of the coronavirus pandemic, driven by a steep decline in financial wellness, according to Telus Health’s latest mental-health index.
Interestingly, one thing was never suggested in either article – maybe we should pay people more.
That’s a post for another time, though. The point I want to make here is one we’ve discussed before. The stress of financial instability is not something that we can eliminate with positive vibes. Being on the verge of poverty or in poverty is a mental health risk factor unto itself. No self-help apps will provide for you if you’re laid off or prevent you from becoming homeless or hungry as the cost of living continues to outpace your income.
What eliminates that risk factor is lifting people out of poverty.
We found that increased income security improved participants’ mental health, reduced their stress and allowed them to improve diets with healthier food options.
These are significant problems that defy easy answers. We know some things that can lower the number of impoverished families, but they aren’t easy to implement. In our current US political climate, they are likely impossible to implement. They involve respecting the humanity and value of everyone in our community enough to want to provide a basic level of living regardless of what they can offer us in return.
I’m afraid we aren’t willing even to acknowledge that all humans deserve shelter and food if it costs a single dime extra. That’s not how we solve the mental health crisis.
