You can’t fix your finances without addressing what’s going on inside your mind.
That’s something I learned the hard way. At my worst, I wasn’t just broke — I was broken. I felt like I was drowning in debt, in depression, and in a life I didn’t recognize. And yet every time I swiped a credit card to buy something I couldn’t afford, I was really trying to buy a feeling: peace, escape, control, joy — anything other than what I was actually feeling.
That’s the thing most people don’t talk about: debt and mental health are often deeply connected.
How Mental Health Affects Finances
- Depression can rob you of the energy to manage money.
- Anxiety can cause decision paralysis or panic spending.
- ADHD might mean missed due dates or impulse buys.
- Trauma can lead to emotional spending as a coping mechanism.
Mental health challenges make it harder to budget, harder to save, and much easier to spend without thinking. And when the debt grows, so does the stress — creating a painful cycle that feels impossible to escape.
How Debt Affects Mental Health
- Constant stress from unpaid bills can lead to insomnia, irritability, or depression.
- Avoidance becomes a habit — you stop opening the mail, checking accounts, or answering calls.
- Shame can isolate you from friends, family, or anyone who might offer support.
- Hopelessness can creep in, making you feel like no amount of effort will ever be enough.
Debt isn’t just numbers. It’s emotional. And if you’re trying to fix the numbers without healing the emotions, you’re only solving half the problem.
Healing Both Sides
If this is where you are — I see you. I’ve been you. Here’s what helped me start to crawl out:
- Therapy or counseling. It gave me space to understand my triggers and how I was using money to cope.
- Spiritual grounding. For me, that meant prayer and remembering I wasn’t walking this path alone.
- A simple, repeatable budget. Something I didn’t have to overthink.
- Accountability. A friend, a family member, or even an online group that would remind me why I started.
- Grace. When I messed up, I forgave myself and got back on track the next day.
Final Thoughts
Getting out of debt is more than just a financial journey — it’s emotional, mental, and even spiritual. If your mental health is suffering, don’t push it aside. Tend to it. Strengthen it. The stronger you are inside, the better you’ll manage everything outside.
If you’re struggling with depression or anxiety, please know you’re not alone. There’s help. And healing is possible.
“The only way to get better is to face your fears and suffer. If you don’t face your fears and suffering, you will suffer even worse.” David Goggins