Mental Stability Vs. The Markets
Today, There is several mental health conditions in society, and arguably new mental health conditions are created everyday like a new alt-coin. Perhaps these conditions are labels, or maybe the world is falling insane. Regardless, this article is about maintaining mental stability with the markets. Typically, when it comes to things like money and investing, financial literacy considers for a individual as “Personal Finance”. One rule of thumb is to keep family and friends out of personal finances. This is do to egos, jealousy, imposters, and attacks. Many reddit stories about families that have struggled from sharing too much info about their finances. One way to hold mental stability with Personal Finance, is to keep it personal. Lock it up and swallow the key.
Much of us are aware that finance is not a subject that most kids out of high school are ready for. The current education structure is based on the industrial revolution, where at the time, factory and production jobs were the entire economy. Today we are facing a post-industrial revolution era, teaching kids to work a 9–5 in a cubical or factory has slowly became outdated. Financial literacy, and capitalism + entrepreneurship will eventually be encourage to kids at a younger age, but that’s a topic for another day. Now that I’ve shared some perspective to this point of view. Here are some mental conditions that have been dubbed from investing.
Sudden Wealth Syndrome (SDS)- Refers to a psychological condition or an identity crisis in individuals who have become suddenly wealthy. Sudden Wealth Syndrome is characterized by isolation from former friends, guilt over their change in circumstances, and extreme fear of losing their money.
There is many great reads on Reddit about SDS, Which is probably the most known mental condition from investing or getting rich quick. There is lottery winners that have lost their lives, or returned more broke than ever after a short time, check out this thread here.
https://www.reddit.com/r/CryptoCurrency/comments/n67kve/sudden_wealth_syndrome_sws_some_advice_on_the/
There is also several terms related to things called “Money Disorders”. Here are is a list of some of the most interesting ones.
Financial Denial- You refuse to pay utility or credit card bills, don’t invest and let money idle in the bank, delay filing tax returns, and just don’t monitor your portfolio. Denial and not dealing with money is also a way of coping with financial anxiety and insecurity.
Underspending- You find spending so abhorrent that even though you have money, your living conditions are abysmal because you don’t even want to buy the basics for yourself or your family.
Compulsive Hoarding- You can’t seem to stop collecting things, or even money, and refuse to get rid of your possessions. The obsession reaches a level where normal living in the house is affected due to hoarding.
Workaholism- You work very hard and without a break because you want to amass as much wealth as possible. This probably stems from financial insecurity, so the more money you earn, the better you feel.
Overspending or Compulsive Buying- You want to spend and buy things constantly because the act of purchasing makes you happy. You suffer from high anxiety and retail therapy provides momentary relief. However, soon after you buy, you crave the fi x again and the process never ends.
Financial Infidelity- You are lying to your partner about money or hiding financial transactions, be it saving, spending or investing. You are also trying to secure your finances at the expense of the spouse’s.
Financial Incest- You are burdening your kids with money problems to reduce your own stress. You may be blaming the spouse for money problems, making the kid guilty about his expenses, or sharing work stress with kid.
Financial Enabling- You are helping others, be it family or friends, with their money problems to an extent that it is affecting your own finances. For instance, you are helping adult kids only to risk your own retirement.
Financial Dependence- You seek support and are dependent on others for your financial sustenance. You simply refuse to take responsibility for your financial upkeep, or for monitoring your financial situation.
Click here to read more from source!
It is quite obvious that personal finance will give us all sorts of problems to deal with. Essentially adults are like children when it comes to money. This is why its always good to have mentors, teachers and friends to communicate with. The best way to avoid conflict with close family is to keep personal finance out of the discussion. Treat it like politics and no problems will be faced when it comes to family. Find a group of people with like minded interest that you do not personally know, and this can help when it comes to things like venting financial problems.
A number of studies have demonstrated a cyclical link between financial worries and mental health problems such as depression, anxiety, and substance abuse. Financial problems adversely impact your mental health. The stress of debt or other financial issues leaves you feeling depressed or anxious.
Difficult to eat food and exercise, or physical health, and personal relationships are falling off? Constantly stressed, unable to sleep, anxious and always feeling disagreeable as a person? Finances are near the top for the mental health related issues. Here is some solutions that may help if you are also suffering from the same stuff.
Take a break, Sometimes a vacation or a enjoyable time out in nature can really help bring some balance back into life.
Make sure to eat good, drink lots of water, and avoid substances that may alter a healthy path. Too much of any one thing is bad for us, that includes markets and money.
Spend time doing hobbies, and things that are fun to do. Ride dirt bikes, skateboard, fishing, music or arts? Whatever it may be, set some time up in the week to take care of your inner child.
Get away from devices or anything with a screen, try leaving the phone at home sometimes. This is a hard one. But spending 6 to 12+ hours a day staring at screens cant be good for our mental stability and health.
Spend time with family and friends building relationships. Keep finance, politics and bad history out of the discussion. The goal is to prevent any arguments, and comes with a lot of understanding, patience and biting the tongue. Relationships are a huge key to happiness, friends and family first always.
Lastly, Create goals, a bucket list, and find healthy activities to do with family or friends. Make sure to get out of the house and go live a little. Spending 365 days in markets is a % of our life lost. Happiness if found in purpose, being appreciated, wanted, respected and relationships.
Just remember we are not alone, Google is littered with stories both of success and horror from business, finance, and investing.
Thank you for reading this far. and hope that this has found the right persons. People have lost their lives from investing and finance, or have completely lost everything in life. Always stay humble friends. Much love
