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Mental Health Awareness Week 2023

Taking place from May 15th – 21st, the theme of this year’s Mental Health Awareness Week is anxiety. 

Defined in the dictionary as ‘a feeling of worry, nervousness or unease about something with an uncertain outcome’, anxiety is a normal emotion. One of the leading causes of it is money, which anyone with concerns over how they’ll afford to pay for food or energy can likely attest.

The good news is that saving even a small amount of money each month can have a positive impact on your mental health. Here are a few of the ways:

It reduces stress and anxiety

Financial stress is a common cause of anxiety and can have a detrimental impact on mental health. By saving money each month, even if it’s only a small amount, you can reduce financial stress and anxiety by building a safety net and having some funds to help cover unexpected expenses.

It improves feelings of security

Having savings can help improve feelings of security and stability. Knowing that you have money set aside provides a sense of comfort and peace of mind, which can improve overall mental health.

It increases confidence and self-esteem

Saving money can also increase confidence. Achieving your financial goals, no matter how small, can provide a sense of accomplishment and boost your self-esteem, which helps improve mental well-being.

It reduces the financial strain on relationships

Financial pressures are a common cause of relationship problems. By saving money to make you more financially resilient, you can reduce any financial strains in your relationships and help reduce your anxiety and stress levels.

It provides a sense of control

Saving money can also provide a sense of control over your finances. This can help reduce feelings of helplessness and increase feelings of empowerment, which can have a positive impact on mental health.

Get saving with Leeds Credit Union

Making saving a priority is a great way to improve your financial well-being and boost your mental health. We offer a range of savings accounts that enable you to make regular contributions and access your money instantly – for more information, click here.

We also offer a Money and Budgeting Advice Service (MABS) to our members to help them make the most of their money. Find out more about it here.

For more information about Mental Health Awareness Week 2023, you can visit the official website here.