Navigating Money and Mental Health: Finding Financial Well-being as an Entrepreneur

Have you ever felt a pang of guilt or anxiety creep in as you check your bank balance? When I was going through stressful times and trying to make ends meet, I caught myself often wondering how I was going to pay all of my bills before my next paycheck hit my bank account. I was definitely feeling the strain on both my money and mental health. 

Beneath all the numbers, budgets, and financial jargon, there’s an emotional cost to money that’s rarely discussed, yet deeply felt.

Often, when we think about financial health, we overlook the emotional aspect. But the sentiments of guilt, fear, or even shame that you might associate with your financial life can create a real barrier to retaining wealth. 

I did all the things you were supposed to do. I went and got my degree, I went to my full-time job day in and day out, and I still felt the constant pressure of trying to make ends meet. 

As an entrepreneur, finding the balance between money and mental health is SO important for your overall well-being. Being an entrepreneur can be a rewarding but challenging journey, and it’s important to prioritize both your financial well-being and your mental health. 

Let’s face it; Emotions and money are 100% linked. So, how do we navigate this landscape? 

Here are 4 tips to help you achieve a healthier financial future all while prioritizing your mental health.

Recognize the Importance of Mental Health 

As the saying goes…health is wealth. In order to be successful in business and life you must take care of yourself. When I put my health first at the end of 2017, my business skyrocketed. That is because I realized the importance of not only physically taking care of myself, but the mental health benefits to it as well. When you work on your health all areas of your life will benefit. 

Person wearing orange and grey Nike shoes walking up concrete steps

Mindset is a HUGE part of success in all areas of your life. Just like how your health and wealth are linked, so is your mindset and your mental health. When you have a positive mindset you have a different outlook on life. 

Your money mindset will impact how you manage your money. When you focus on the positive things that are happening with your money, or the positive things that CAN happen with your money, you will feel better about your money. 

Practice by saying good things about your money or positively inviting money into your life. It may sound silly, but changing your mindset around your money will make a BIG difference. 

When you have been living in financial chaos for so long it is easy to feel overwhelmed, anxious, guilty, fearful, or even having feelings of shame. All of these feelings are valid. Recognize these emotions without judgment. Awareness is the first step toward meaningful change.

Set Realistic Financial Goals 

We set goals in order to eventually arrive at a place that is different than where we currently are. Whether it be financial, health-related, relationship-based, or business-related, we want to be further ahead or in some cases a better place. 

Success isn’t just about dreaming big; it’s about taking practical steps to achieve your goals. By learning how to set achievable financial milestones for both your personal life and your business, you will be progressing toward what truly matters to you.

smartphone calculator app laying on a red notebook and marble folder

One realistic goal you can start practicing today is mindful spending. Before you make a purchase, particularly a substantial one, ask yourself, “Do I need this, or do I want this?” 

This simple question can refocus your emotional impulse and replace it with a more rational approach. When you do spend money on things, ask yourself if what you’re spending money on will help to support your goals now and down the road. 

When the roads get hard during your journey, remember the place you started. Go back to the feelings and thoughts you had when you made your goal and remember that you don’t want to go back there. Stick through the hard spot, push forward, and use that strength to get you closer and closer to your goal. 

Prioritize Self-Care and Stress Management 

Times are tough right now. I get it. I truly do. I have been there. I have gotten my vehicle repossessed, got assistance from the state so I could feed my girls, and even sent a letter to my landlord to prorate rent. All of this is a recipe for stress!  

 One way you can take care of yourself and your finances is through a financial self-care routine. Like any other form of self-care, financial self-care is essential. Regularly checking your balances, reviewing your spending, and setting financial goals can alleviate anxiety and guilt while keeping you on track to achieving your financial dreams.

a red wallet and coins sitting next to a caluculator

Regardless of where you are with your finances, the most crucial step is acknowledging and accepting the reality of them. Knowing you can look at them without stress and fear will help you take control of them.

So remember, don’t let stress hold you back. Because when you do, you go nowhere and miss out on so much.

Seek Support From a Mentor

Our society has taught us that things like mental health, sex, and money are taboo to talk about. That we are supposed to keep it behind doors and not share our struggles or reach out for help.

I am here to tell you that you don’t have to go through this journey alone. It’s safe to feel the frustration and say ALL the things. Whether you are reaching out for support from a family member, friend, coworker, or mentor, know that you can and you should reach out for help. 

If you work with me I assure you that you are safe and you will not be judged. I see you and I want to help you. Long gone will be the sleepless nights worrying about finances. 

I want you to picture a life where you’re in control, making well-informed decisions, and feeling completely at ease with your finances. Imagine being empowered by your finances and finally breaking free from the burden of financial anxiety. It’s time to take control of your money, and I’m here to guide you every step of the way.

Achieving a life free from financial worry doesn’t have to be an unattainable dream. It can become your reality if you’re ready to make that choice. It’s time to take control of your financial destiny and stop feeling overwhelmed by your finances. It’s possible to be liberated and empowered by your wealth! 

woman standing on the beach with her arms raised

Navigating money anxiety and guilt is a journey, not a one-time event. By understanding and managing the emotional cost of money, we can move towards a healthier, wealthier lifestyle. 

Remember, it’s not just about having wealth; it’s about having a healthy relationship with it!