Running on empty? Why your financial wellness is crucial right now

THROW You think back more than 18 months to March 2020 when the pandemic turned our lives upside down and you probably thought long before that everything would be back to normal.

With the dark days of winter approaching, fuel and food shortages resurrecting inventories, the cost of living rise, and now fears that a second Christmas will turn into a damp squib, it is hardly surprising that ours is mental health suffers.

Earlier this year, 34% said the pandemic had a negative impact on their mental health1 and you can bet that that number would be the same, if not higher, today I’m sure none of us will be lost.

At the very least, increasing our resilience to unforeseen events is good for our financial and mental health. Noticing where we are struggling and recognizing our emotional response to situations that we once “got through” without thinking about it can help us maintain vital control and stability as we deal with everyday life. This is how we can “regulate” our finances.

Only by adopting a positive saving habit of regularly investing small amounts of money will you take away some of the worry about not saving enough (or not saving at all) and the fear that inevitably comes with choosing the “right” time an investment goes hand in hand with a larger amount.

Investing in a number of stocks or funds and keeping some cash in the bank for that proverbial “rainy day” also keeps fears for your finances in check and ensures you have access to money tomorrow should you need it while staying one step ahead when it comes to your financial future.

Neither of us knows what’s around the corner. But for your own financial well-being and mental health, positive steps now will build your resilience no matter what.

More about regular savings

As Mind, the mental health charity, knows all too well, poor mental health can make money harder to make and manage. And that’s why it’s so important to talk about money worries.

If you or someone you know is struggling with financial problems, there are charities you can speak to like MoneyHelper (formerly known as the Money Advice Service) on 0800 138 7777, National Debtline on 0808 808 4000, and StepChange Debt Charity on 0800 138 1111, all free of charge.

For more help with mental health problems Mind, the mental health charity, has comprehensive guides on where and how to get the help you need.


1 survey by Opinium research for Fidelity International between January 7 and January 12, 2021 of 12,038 men and women in the UK, Germany, China, Taiwan, Hong Kong and Japan. UK-specific results from the global study are based on a sample of 2,004 (990 men and 1014 women).

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