Mental health is a crucial part of human well-being. It is as crucial as sleeping, eating and bathing. However, a slight disturbance in mental health can wreak havoc in one’s life.
It takes away the ability to think and act rationally. And may lead to broader losses related to households and society.
Very often, we overlook the apparent red flags. It may be due to societal pressure or the feeling of guilt.
This article will discuss why an investor should not ignore mental health and why it is so important. Let’s delve in.
Mental Health is Wealth
We all focus on wealth creation, which takes most of our attention. From working hard to putting our efforts into earning more is the only plausible thing.
But we often forget our mental health in the process. Again, it is because so many factors require our attention while we try to build our relationship with money.
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Not giving into the fear of missing out (FOMO):
Fear of missing out, more famously known as FOMO, is the anxiety of losing out on opportunity elsewhere. So, for example, if your friend has invested in some stock that is fetching him high returns, it might cause you anxiety, and you might make an irrational decision that may further add to your woes.
Be clear in your financial goals. A hasty decision will only affect you in the long run.
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Being clear about your financial goals:
When you are young and earn well, it is time to make the most of your wealth creation. However, it has been noticed that people focus more on buying expensive things to impress their friends.
It has been seen as one of the primary reasons for mental issues. As the urge to impress people increases, people tend to take credit cards and burden themselves with unnecessary debt.
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Focus on long-term goals:
Rome wasn’t built in a day, nor does a financial portfolio. You need to take disciplined and calculated steps for your financial goals. Start investing for the future without being bothered about the present short-term gains that might feel like a honey trap later.
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Change is inevitable:
No one can foresee changes that might occur in the future, like macroeconomic factors like wars or inflation.
Surprises and setbacks may happen, but if you are aware of this potential before starting your financial journey, it might be simpler for you to deal with these problems with less worry and anxiety.
Diversifying is the best way to beat the inevitable.
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Stop that comparison:
No two people are alike. It applies the same to financial goals. For example, if your friend enjoys parties and going on a lavish holiday, it is highly likely that he either has solid finances or is burdening himself with debts to look cool.
Make it a point to focus on your risk appetite, source of income, and future goals.
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Have a support system:
Your parents or someone you can rely upon can be your support system. Since you may encounter hard times, this support system will help you sail through.
Conclusion
Mental health should be the foremost priority for everyone. Only a rational-minded person can make rational decisions.
Financial stress can lead to depression and, if left untreated, causes suicidal thoughts. In addition, you will encounter threatening impacts on your emotional and possibly even physical health if your monetary stress is severe.
People dealing with financial stress might have different problems. Such problems could include anxiety, loneliness, or even physical symptoms like headaches and stomach aches.
If at all you feel things are going beyond your control, it indicates that you need to see a doctor.
Acceptance is the first step toward dealing with your mental health, and the second step is asking for help if required.
Always talk about your distress with your support system. Confide in people who understand you.
In the end, the only word of advice is that no wealth is more significant than your mental health. If you are happy, you will make more suitable decisions for yourself, your loved ones, your financial matters, and other matters of your life.
That’s all from my side, folks!!
