Budgeting for Mental Health: Prioritizing Wellness on a Budget
My journey to prioritizing mental health has been a long and winding road. Like many people, I often felt the pressure to push aside my own wellbeing in the pursuit of career goals, family responsibilities, and societal expectations. It wasn't until I started struggling with burnout and anxiety that I realized I needed to make a conscious effort to invest in my mental health.
The concept of "budgeting" for mental health might seem strange at first. But think of it this way: we budget for our finances, for our time, and even for our fitness, so why not for our mental wellbeing? Just as we plan out our finances to ensure we have enough to cover our essential needs, we can also budget for our mental health needs.
This approach is especially important for individuals who face financial limitations or experience mental health challenges that make it difficult to afford costly treatments. The good news is that prioritizing mental health on a budget is achievable. It involves taking a holistic approach to wellness by implementing strategies for self-care, time management, and financial planning.
1. Recognize the Importance of Mental Health in Financial Planning
Imagine a world where our finances are not just numbers on a spreadsheet but encompass all aspects of our well-being, including our mental health. This is the core idea of recognizing the intersection of mental health and finances. When we prioritize self-care, we create a healthier work-life balance, which is essential for preventing impulsive financial decisions driven by stress or anxiety.
2. Assess Your Financial Picture
Before incorporating self-care into your budget, it's vital to have a clear understanding of your current financial situation. Assess your income, expenses, and savings. This will help you identify potential areas for adjustment. For example, you might find a small percentage of your income that you can dedicate to a self-care fund, or some discretionary spending categories you can trim to free up additional funds for mental health.
3. Define Your Self-Care Priorities
Self-care looks different for everyone. Take time to identify activities that promote your mental wellbeing and bring you joy. These could be anything from practicing mindfulness to engaging in hobbies, attending therapy sessions, or starting a creative or physical outlet. Remember, even activities that may seem frivolous contribute to your overall health and happiness, so they deserve a place in your budget.
4. Allocate a Self-Care Budget
Once you've defined your self-care priorities, allocate a specific portion of your budget to support them. This budget allocation demonstrates your commitment to nurturing your mental health. Start small if necessary, even if it's just $25-$100 per month. Consider gradually increasing the amount over time as your financial situation allows.
5. Research Affordable Self-Care Options
Don't get discouraged by the notion that self-care must involve luxury. There are many affordable and even free self-care options that can align with your interests and values. For example, instead of costly spa treatments, create a relaxing routine at home with inexpensive bath products, candles, and music. Consider local workshops or community recreation center courses that typically cost less than private courses.
6. Practice Mindful Spending
We live in a society that often bombards us with consumeristic messaging, tempting us to purchase things with promises of immediate happiness. To break free from this cycle, practice mindful spending. Before making an impulsive purchase, ask yourself: does this align with my self-care goals and priorities? By channeling your financial resources towards activities that genuinely promote mental health, you avoid wasteful expenditures.
7. Seek Low-Cost or Free Mental Health Resources
In addition to budgeting for self-care, look for low-cost or free mental health resources. Check online for local peer support groups or counseling services, often available at a reduced cost based on your current income. If you have insurance through your employer, you may be able to access community clinics that offer affordable options.
8. Check Whether Your School or Workplace Has In-House Help
Many schools and large organizations offer in-house mental health care professionals at little or no cost. Check with your school counselor or workplace HR department to see what resources are available.
9. Use Mental Health Apps
Mental health apps, available on your mobile device, can help you manage anxiety and depression, either on their own or alongside therapy. Some apps, such as Headspace and Calm, have been shown to provide sustained benefits after 11 weeks. Many apps offer free trials so you can decide if they're right for you.
10. Telehealth Therapy
Telehealth therapy offers a range of online services, telecommunications, and videoconferencing options that allow you to access mental health services remotely. This can save you time off from work, avoid potential travel and child care expenses, and sometimes cost less than in-person therapy.
11. Try Workbooks and Worksheets at Home
Many of the principles and exercises therapists use are available in workbook form. If you know what kind of therapy you're looking for, find an inexpensive or free workbook that you can work through at your own pace. Acceptance and Commitment Therapy (ACT), Dialectical Behavioral Therapy (DBT), and Cognitive Behavioral Therapy (CBT) are all excellent therapy types to consider.
12. Find Insurance Coverage
Check your insurance policy to see if it covers mental health support, such as therapy. For example, your workplace benefits may offer mental health coverage.
13. Look at Lower Cost Therapy Options
Before exploring alternative options, look into what your health insurance offers. You may be able to find competitive rates and comprehensive mental health coverage with the right insurance provider. In addition, FindTreatment.gov allows users to search for clinics that offer payment assistance, including sliding-scale payments, where the cost of treatment depends on your income. There are also free services in many regions. One option for affordable virtual therapy is Online-Therapy.com, which offers therapy for between $39.95 and $79.95 per week.
14. Join a Support Group
Connecting with people who have similar concerns can provide amazing relief and support. Consider joining a local support group. Many organizations offer these groups across the United States, including:
- Mental Health America
- Immigrants Rising
- NAMI registry of faith-based support groups
- Your local community center
You can also ask your doctor or therapist for a support group recommendation.
How to Budget Your Time for Better Mental Health
Time management is crucial for managing your workload and for your overall wellbeing. It involves identifying goals, organizing, prioritizing, and scheduling tasks.
Managing your time can reduce stress, for example, by preventing your list of to-dos from piling up. Mismanaging your time, on the other hand, can lead to burnout.
Here are a few tips for time management:
15. Focus on One Task at a Time and Set Aside Everything Else While You're Doing It
Multitasking or distractions can make it difficult to focus on tasks. Instead, dedicate your attention to one specific task at a time, block off time to complete it, and remove all distractions. If you're interrupted, set aside the interruption to follow up later.
16. Do the Most Important Thing First
It's easy to postpone important tasks. But doing the most important task of your day first can reduce stress and leave you feeling more accomplished at the end of the day.
17. Stay True to Your Schedule
It's tempting to postpone mental health-promoting activities. But sticking to your schedule ensures you're prioritizing those activities, even on less-than-ideal days.
How to Manage Your Finances to Lower Stress
There's a strong connection between finances and mental health. People who are experiencing financial stress are more likely to experience depression.
18. Track Your Spending
Take time to look at your expenses for one to two months. This can help you identify areas where you can reduce spending. For example, those frequent trips to the corner store or Uber rides might not seem like a big deal, but they can add up.
19. Save Up for Special Occasions and Big Future Purchases
Setting aside a set amount each month for specific expenses in your future can help you feel less stressed and more secure. Consider buying a home or car, taking care of an aging parent, planning for retirement, or having a new baby.
20. Set Aside Money for an Emergency Fund
Having an emergency fund can provide peace of mind and help you handle unexpected expenses.
21. Reduce Impulse Buys
It's easy to feel constant pressure to buy things, but impulse buys can significantly impact your budget. When you feel tempted to buy something you don't really need, ask yourself: "Will I care about this purchase in a month? Will I use it regularly, or will it go unused?"
Takeaway
Remember: prioritizing mental health is not something that happens automatically. Consciously seeking out mental-health-boosting activities can help. Consider "budgeting" for your mental health by reviewing your finances, managing your time to avoid burnout, and finding affordable mental health care options.
Frequently Asked Questions
Q: I'm feeling overwhelmed by the idea of budgeting for mental health. Where do I even begin?
A: Start small. Don't try to do everything at once. Choose one or two areas to focus on, such as finding affordable mental health resources or budgeting for self-care. As you feel more comfortable, you can expand your efforts.
Q: I'm on a tight budget. How can I afford mental health care?
A: Mental health care can be expensive, but there are many affordable options available. Consider exploring:
- Low-cost or free mental health resources: Many organizations offer free or low-cost mental health services. Check online for local support groups, counseling services, or community clinics in your area.
- Sliding-scale payment assistance: Some therapists offer sliding-scale payment, where the cost of treatment depends on your income.
- Insurance coverage: Check your insurance policy to see if it covers mental health services, such as therapy.
Q: My employer doesn't offer any mental health resources. What can I do?
A: It's worth bringing this to the attention of your employer. Many employers are increasingly recognizing the importance of employee wellness and may be willing to implement programs or provide resources if they are made aware of the need.
Q: What if I don't have time for self-care?
A: It's important to remember that self-care is not a luxury but a necessity. It can improve your productivity and help you manage stress better. Even small amounts of self-care can make a difference. Start by incorporating a few minutes of mindful meditation or exercise into your day. You'll be surprised at how much these small changes can impact your well-being.
Q: How do I know if my mental health is impacting my finances?
**A: ** There are a few signs to look out for:
- Spending more than you can afford.
- Making impulsive purchases.
- Avoiding dealing with your finances.
- Feeling anxious or stressed about your finances.
If you notice any of these signs, consider reaching out to a financial advisor or mental health professional.
Remember: Prioritizing your mental health can be challenging, but it's worth it. You'll be able to better manage your finances, improve your overall wellbeing, and create a more fulfilling and productive life.
