It is no exaggeration to say that a major contributor to my breakdown back in 2009 was due to the state of my finances. I had nothing and was totally reliant on my partner for finances, who frequently used money as a means to control me. The situation made me feel helpless.
Although this is uncommon there are many ways that effective budgeting can help prevent a mid-life crisis or breakdown. How many people do you hear of who are struggling financially and then turn forty and breakdown?
Psychologically approaching mid-life is tricky at best, we face our mortality, evaluate our impact on others, our potential legacy in the world, assess what we have achieved and look to the future considering how well we have provided for it thus far. If during this time we haven’t created financial security to look forward to and have not achieved all or at least the most important of our goals we can be susceptible to experiencing a turbulent time or even endure a mid-life crisis.
With this in mind effective budgeting really can be a life saver; enabling us to look at the past, being satisfied with what we have achieved, and look to the future with excitement, hope and optimism.
Have you ever experienced stress, depression or anxiety due to your financial health? What steps do you think you could take today to ensure your future financial health? Have you experienced the excitement, hope and optimism for the future as a result of effective budgeting and having achieved or being within reach of achieving your goals? Please share your thoughts in the comments below to gain encouragement, insight and support from our community, we’d love to hear from you.