When you get yourself into debt, it affects more than your credit score and bank account balance. Financial woes can take a toll on your mental health and even trickle into physical ailments that affect your body and overall health. Learn about the connection between financial and mental health, as well as ways to help keep your financial woes from creating health problems for your body or your mind.
Tag: money and happiness
Good relationships with money – like good relationships with people – require a balance between fun in the present and security for the future. The key is to respect both priorities and go back and forth between them in an efficient way. To succeed at this balancing act, we must learn how to enjoy ourselves today without creating problems for tomorrow and how to build a secure future without feeling deprived in our day-to-day lives. Recent research on the psychology of money and happiness provides good ideas for balancing the needs of the present and future. Psychologist Jeremy Shapiro discusses five of them.
A recent study by the Boston College Center on Wealth and Philanthropy included interviews with 165 super-wealthy heads of household (with fortunes of $25 million or more). They invited these wealthy Americans to speak openly and frankly about their lives, their hopes and fears. Here are some of the surprising findings from the study, and the lessons for the rest of us.
On a psychological level, choices about spending and saving are not merely matters of dollars and cents because our emotions and well-being are also at stake. A financial plan that makes sense in accounting terms but leaves us feeling miserable is no solution at all. Fortunately, recent research on the psychology of money and happiness can provide valuable guidance to people trying to achieve the twin goals of being thrifty and happy. Psychologist Jeremy Shapiro explains.
The economic downturn has produced a surge of interest in smart shopping and money management, as everyone searches for ways to buy more stuff with less money. These strategies can only accomplish so much. We also need ways to get more happiness from less stuff. Psychologist Jeremy Shapiro explains.