Apple News In Conversation How money affects your mental health
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Apr 18, 2024 Marriage and family psychologist Megan McCoy discusses the lasting impact of financial trauma on mental health and relationships. The podcast explores coping strategies, redefining money mindset, navigating financial infidelity, managing debt, and seeking guidance to overcome financial trauma.
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Lost Tips
- Megan McCoy lost $70 in tips as a waitress in college.
- This led to negative self-talk and anxiety about money for years.
Trauma vs. Stress
- Financial stress becomes trauma when shame and negative feelings generalize to other areas of life.
- Guilt about irresponsible money behaviors is distinct from the shame associated with trauma.
Physical Impact of Financial Stress
- Financial stress impacts physical health, causing ulcers, insomnia, and potentially even cancer.
- Sustained financial insecurity is considered by some researchers to be carcinogenic.