The mind–money connection: Why financial stress takes a toll

Accessing clients’ financial standings can help clinicians identify a possible cause of anxiety, depression, sleep disturbances, harmful self-medication, and other issues. “Research has shown that financial stress and our mental health have a cyclical relationship,” said Traci Williams, Ph.D., a Chandler, AZ-based psychologist and certified financial therapist. “This means financial stress can worsen our mental health and our mental health directly impacts how well we earn income and manage our finances.” Two-thirds (66%) of respondents to the American Psychological Association’s (APA) annual Stress in America survey last year cited money as ...