JACKSONVILLE, Fla. — Financial stress can affect more than your bank account. It can also change the way you see yourself.
Dr. Jeffrey B. Rubin, a practicing psychologist, psychotherapist and author, joined In Depth with Kristine Bellino to talk about the emotional side of financial struggles and why money problems can sometimes become a much deeper mental health issue.
“Money is not just money”
With groceries, gas and everyday expenses putting pressure on many families, Rubin said it is important not to connect financial struggles with your self-worth.
“Money is not just money,” Rubin said. “It’s a symbol of ‘I’m making it.’ It’s a symbol of ‘I’m good enough.’”
That can make losing a job or struggling to pay bills feel like a personal failure. Rubin said people may start feeling guilt and shame and eventually isolate themselves.
Instead, he encourages people to talk about what they are going through and lean on a partner, family member or friend.
What should you look out for?
Rubin said financial stress can become psychologically dangerous and, in the most serious cases, contribute to suicidal thoughts.
Warning signs can include isolation, losing interest in normal activities, changes in personal care or becoming increasingly angry and impatient.
For someone trying to help, Rubin said telling a person that “everything is going to be okay” may actually make them feel misunderstood.
Instead, he recommends listening, acknowledging that the situation is difficult and asking what the person needs.
If they say, “You don’t understand,” Rubin suggests a simple response: help me understand.
“There’s more hope than we know”
Rubin said he has also noticed something different in his psychotherapy practice in recent years: the world itself is becoming part of people’s mental health struggles.
Constant negative news, financial pressure and polarization can all weigh on people.
Still, Rubin believes there is reason for hope.
“Things are worse than we believe, and there’s more hope than we know,” he said.
His final advice was to be gentler with yourself, admit when things are hard and lean on other people for support.
“You don’t deserve to go through it alone.”
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