Adulthood means freedom, but this freedom comes bound with responsibility. We have commitments to our work, our partners, our family and friends, our own health and a thousand other equally important things that need our attention. What doesn’t get talked about it enough are our financial responsibilities. We have bills to pay like rent or home loans, vehicle loans, expenses for aging parents, medical bills, children’s education, and finally setting aside money savings for the future. And then there are other expenses for recreation, weddings, vacation or maintaining automobiles.

While inflation means that costs in practically every sphere are rising like for groceries to fuel, many of us are overwhelmed by debt or simply staying afloat. And it’s not a one-time thing either – we are expected to consistently meet these expectations and when one responsibility ends, another begins. The inherent nature of the problem is systemic in nature due to national and international politics and economics that guide everyday living.  Yet every individual has to literally pay the price to survive in the modern world. It is not your fault – it is the reality that we currently live in.

Financial stress, or emotional tension that is related to money, is a major cause of mental health problems such as anxiety, depression, social withdrawal, turning to substance use for coping and a wide range of physical problems. Financial stress can lead to delayed healthcare, poor mental health, decreasing physical health and unhealthy coping behaviours. Many even resort to self-harm and suicide when they feel they are out of options.

Mitigating financial stress obviously has a great deal to do with your actual finances.  While you are managing it, it is essential to ensure that your mental health and well-being are a priority as well, because it hard to cope with the day-to-day stress challenges without it. Here are some tips to help you take care of yourself through your journey:

• Let’s talk about it. Financial stress is a universal problem that everyone experiences at one time or the other but is treated like a taboo topic in a society that is fixated on appearances. No matter how bad your financial situation you may be in, you are not alone. It is okay to talk about it because most people will be able to relate to the burden of financial responsibilities.

• Take stock of your finances. Take small but consistent steps towards mitigating the source of the stress: your finance, whether it is by tracking your spending and decluttering your budget, creating extra sources of income, getting professional assistance with your finances, becoming financially literate in areas of debt management or looking into loan repayment programs that are customized to your income or preferences, or investing for the future.

• Reach out for support. Emotional support is essential for getting better, no matter what kind of stress you may be experiencing. Stay connected to your family and friends during this time and let them be there for you – with emotional support, a shoulder to lean on, someone to laugh with, guidance or financial help if or when necessary. You could even consider joining a support group or talking to a counsellor.

• Do not neglect self-care. No matter what you are going through, it is important not to lose your sense of self or semblance of balance in the process. Take care of yourself – get in half an hour of exercise even if it involves walking around the block, taking adequate breaks from work, relaxing by engaging in a hobby, and connecting with loved ones when you can. Do not feel guilt about taking care of yourself – if nothing else, consider it an investment so you can manage your financial stress better.

Money undeniably plays a big part in our lives, and we certainly should do everything we can so we can feel more financially secure. However, in the process, let’s not forget to see the bigger picture on why we need money. To be healthy, being there for one another, enjoying ourselves, and leading a life worth earning for.