The Real Cost of High Living Costs: How to Protect Your Mental Health

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If you are facing financial stress and experiencing poor mental health, we urge you to prioritize seeking free mental health support and resources available in your community before considering private therapy, even if private therapy seems within budget. It is crucial to explore all accessible avenues for help and support. Consider seeking advice from the Citizen’s Advice Charity about practical financial management support.

Life is filled with ups and downs, and our minds work tirelessly to navigate these ebbs and flows. However, when financial stress rears its head due to the increasing cost of living, it can add an overwhelming burden, fostering a dark cycle of worry, anxiety, and depression. This blog post will delve into this complex issue, shining a light on how therapy with a clinical psychologist can help bring relief to those feeling the heavy weight of financial stress.

Understanding the Vicious Cycle 

Firstly, let’s understand the cycle. Imagine a tightrope walker, maintaining balance despite high winds and juggling balls simultaneously. That’s the life of many people today, with the tightrope representing our financial stability, the winds being the ever-increasing cost of living, and the balls symbolizing various life responsibilities. The balance is upset when the winds become too strong, leading to a fall.

Money Worries and the Onset of Anxiety 

A constant worry about money makes everyday life incredibly stressful, and this is where anxiety creeps in. Anxiety is like a nagging voice in your head that persistently highlights everything that could go wrong. This fixation on financial uncertainty can lead to sleepless nights, constant worry, and even panic attacks.

The Transition from Anxiety to Depression 

Prolonged stress and anxiety can also manifest into depression, a debilitating condition that makes day-to-day life extremely difficult. Those suffering from depression might feel hopeless, uninterested in daily activities, and even have thoughts of self-harm or suicide. 

The Self-Feeding Beast: Stress, Anxiety, and Depression 

This unrelenting cycle of money worries, stress, anxiety, and depression feeds into itself, creating a vicious loop. The more stressed and anxious you are about finances, the more likely you are to develop depression. And when you’re depressed, managing your finances can feel even more daunting, which in turn, increases stress and anxiety. It’s a self-feeding beast that can be incredibly hard to break free from.

Therapy: A Safe Space to Express and Learn 

So, where does a clinical psychologist come into this picture? Imagine having someone who understands this beast, its triggers, its cycles, and its effects on you. A clinical psychologist is trained to help you navigate these tricky waters, equipping you with the tools to regain control of your life.

The journey starts with a comprehensive evaluation to understand the source of your financial stress and how it impacts your mental health. This process is designed to provide personalized insights into your unique situation. Remember, it’s not just about the money worries – it’s about how these worries intertwine with your thoughts, emotions, and behaviours.

Therapy with a clinical psychologist provides a safe, non-judgmental space for you to express your feelings and fears. Cognitive-Behavioural Therapy (CBT), for instance, is a common approach that helps you identify and challenge unhelpful thought patterns and behaviours, replacing them with healthier ones. It’s about teaching you how to fish for tranquillity in the turbulent ocean of financial stress.

Further, therapy also focuses on stress management techniques. These are like your life vests in stormy waters, allowing you to stay afloat despite the crashing waves. Techniques may include mindfulness, relaxation exercises, and healthy lifestyle choices such as regular exercise and balanced nutrition.

Promoting Healthy Financial Habits 

Your psychologist might also suggest ways to improve your financial management skills. They won’t play the role of a financial advisor, but they can help you reduce money-related anxiety by promoting better habits, like budgeting and saving, and supporting you in seeking professional financial advice if necessary. They can also help you understand the psychological drivers behind unnecessary spending habits.

Therapy is not a magic wand that will make financial stress disappear overnight. It’s a journey of self-discovery, learning, and adapting. However, it can provide you with the resilience, skills, and perspective to better cope with the effects of the increased cost of living on your mental health.

Asking for Help is a Testament to Strength

While rising living costs are a reality for many, they need not dictate your mental well-being. A clinical psychologist can provide a lifeline, empowering you to regain control over your financial stress and thereby improving your mental health. The journey might be challenging but remember that asking for help is not a sign of weakness; it’s a testament to your strength and commitment to a healthier, happier life.


  1. American Psychological Association. (n.d.). Understanding chronic stress.
  2. National Institute of Mental Health. (n.d.). Anxiety disorders.
  3. National Institute of Mental Health. (n.d.). Depression.
  4. Mental Health America. (n.d.). Taking Care of Your Mental Health in the Face of Uncertainty.