Imagine being financially stable. You can pay your bills on time, constantly contribute to your retirement and savings, and aren’t deep in debt. Generally, being financially stable contributes to a sound mental state.
Sadly, many Americans aren’t stable financially. According to a survey from Psych Central and Bankrate, about 52% of United States adults say money is negatively affecting their mental health. Continue reading to discover the link between money worries and mental health in the African American community.
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How Money Worries Affects Health in Black Communities
People can feel stress very well when they don’t have enough money. The thought of how to feed, pay rent, pay school fees, and pay medical bills can break people and make them feel helpless.
The most frustrating part is not having enough money to meet your financial needs even when you’re putting in a lot of work and effort daily. It can affect the way you think and make you feel hopeless.
However, in most black communities, talking about how you feel about your present situation isn’t encouraged. The community expects you to be strong and keep fighting even when it seems like your strength can’t carry you.
On the other hand, some people feel it’s better to keep whatever they’re going through financially to themselves so that others won’t judge them. This makes it difficult for them to get help.
Moreover, history has shaped how the African Americans community thinks. The unfair treatment in the past has contributed greatly to how they view tough times. It has made it difficult for most people to talk about needing help or feeling down.
Studies have shown that people usually feel more anxious or sad when they’re having money crises. And the feelings can be stronger in households or communities where people don’t make enough money for themselves.
In such a community or household, it’s difficult to find someone to share your financial burden with. To many people, money stress is more intense than family and work-related stress. You can get these books on Amazon to learn how to manage money worries effectively.
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The Origin of African Americans Financial Struggles
The financial issues that African Americans face today can be traced back to the period after the slave trade. During this period, black Americans faced serious systemic discrimination.
The effect of slavery, segregation, and discriminatory practices made black people not to have equal opportunities with their white counterparts. Jim Crow laws and redlining, limited access to housing, employment, and financial resources made it impossible for African Americans to build wealth.
Additionally, wage disparities, occupational segregation, and limited access to higher-paying jobs also contributed to African Americans money issues. Here are books on Amazon that you can get to learn more about the challenges African Americans faced during and after the slave trade.
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How to Manage Money Worries and Mental Health in Black Communities
Here are a few steps to take If you ever find yourself struggling with money worries and mental health:
Speak to Your Loved Ones
The first approach to managing money worries is to speak to family and friends. When you’re facing financial issues, it’s best to open up to your loved ones. Tell them everything they need to know regarding the situation. They might offer financial help or advice that’ll help you work your way out of the problem.
Learn About Money
In addition to talking to friends and family, you should also learn about personal finance. You can get one or two books from Amazon that teach practical skills on how to earn, save, and invest.
Set Achievable Goals
Setting realistic money goals and taking little steps daily towards them can also help create a sense of accomplishment and reduce stress. You should also learn to celebrate your little wins and not be too hard on yourself.
Money problems can weigh heavily on people’s minds and affect how they feel and act daily. In the black community, money worries and mental health issues can be traced back to the unjust treatment they experienced during and after the slave trade. This makes it even tougher.
Regardless of how the situation may seem, remember that money stress is something that a large number of people face daily. So, when you find yourself in such a situation, apply the coping tips shared here.
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