May is Mental Health Awareness Month, recognized in the United States since 1949 by presidential proclamation.
The purpose of the month is to raise awareness about all types of mental health and illnesses, provide support and resources to the nearly 60 million people (about twice the population of Texas) who live with a mental illness, and reduce stigma.
While mental health is best addressed with a medical professional, who can provide options including different types of therapy, medications, and lifestyle adjustments to support specific needs, in a world where mental illness is increasingly acknowledged there are more resources available than ever before.
Consider these three areas in your life and how re-evaluating them might help you show yourself grace and compassion.
Finances
There is a clear connection between financial stability and mental health. According to a 2023 survey from Bankrate, money is the most frequent factor negatively impacting Americans’ mental well-being (52%), above health for oneself (42%) and family and friends (36%), as well as current events (41%), relationships (32%), and work (31%).
“Stress about all things money is real and individuals, families and business owners can make their lives easier if they are willing to work with trusted financial professionals who are fully licensed and serve as a fiduciary (meaning always doing the best for the client),” says David Roth of Fair Planet Advisors. “Serving as a trusted advisor who also is able to incorporate clients' values into their financial lives is what our firm is all about.”
The rate of money negatively impacting people’s mental well-being increased by 10 percent since 2022 and with increasing wealth inequality, inflation, job insecurity, and crises like student and medical debt, it’s no wonder nearly a third of all Americans worry about money daily.
Rachel Infante, a financial advisor at Birchwood Financial Partners, acknowledges that “financial decisions are hard for most.”
“Education is what empowers people to have a more sound financial future. Even if the answers aren’t known, knowing when to include your trusted financial advisor is a huge step.”
Rachel Infante
Fortunately, no matter where you’re at in life or where your finances stand, financial aid is always available.
“Financial literacy and planning are vital for preserving mental well-being,” Michelle Wilson of Athens Impact Socially Responsible Investments adds. “By gaining knowledge about personal finances and making informed choices, individuals can alleviate stress, reduce anxiety, and enhance overall happiness.”
The Green Business Network’s Green Pages offer over 100 financial advisors and planners across the country, with specialties from retirement to 401(k)s and investments to wealth management.
