When we talk about cultivating strong mental health, we often focus on two key pillars: Physical activity, and emotional well-being. But there is a third, often overlooked pillar that can affect mental health: Financial stability. Financial stress can significantly affect your mental health, and if you are feeling overwhelmed by money worries, you are not alone. Nearly half of Canadians have reported losing sleep due to financial concerns.1 By addressing this topic directly, we can strengthen this third pillar and create a stronger foundation for excellent mental health.
Acknowledge the Stress and Its Impact
● Self-awareness: First recognize the emotional effects of the financial stress- these may present as irritability, sleep issues, or withdrawal from those around you
● Self-compassion: This is a very important step. Avoid self-blame. Understand that financial challenges are common, and manageable with the right tools
● Budgeting: Use apps or spreadsheets to track income, expenses, and savings. This can give you a much clearer view of your finances, and makes them less overwhelming
● Educate yourself on strategies to manage your money: You can research options online, or seek guidance from your bank
● Emergency Fund: Start small, even if it is a couple dollars a month, in order to start building a buffer
● Cognitive reframing: Challenge thoughts like “I’ll never get out of this” with more realistic alternatives, such as: “This is hard, but I can take one step at a time”
● Connection: Join support groups, online or in person
● Professional Support: Seek mental health counselling (sliding scale fees and low-cost options are available)
One of the most common barriers to seeking mental health help is accessibility and cost. The Aspen Wellness Centre strives to reduce barriers by this by offering high quality mental health care that is accessible and affordable for everyone. We are pleased to offer sliding scale fees with many of our registered mental health therapists, and low/no cost fees with our clinical intern. Our clinical interns provide therapy sessions at a rate of $0-55/session based on a 'pay what you can model'. Sliding scale fees can be discussed during a free 15 minute phone consultation with our therapists. Learn more about our low cost therapy options here. If you have further questions, you can also phone us at 780-328-7802. You are not alone. Support is available- and affordable.