Money matters keeping you awake at night? Have you considered financial therapy?


139 days ago

How did you sleep last night?

If the answer is not very well, what is it that had you tossing and turning?

If it was money matters then you're not alone.

According to a survey by Capital One CreditWise survey 35% of Millennials interviewed say they lose an hour or more of sleep a night because of regular financial pressure.

Not only that but just over half (52%) of people surveyed claim the stress caused by financial worries is damaging
their health.

It's led to a something called financial posttraumatic stress disorder (PTSD), a term coined by renowned research psychologist Dr Galen Buckwalter.

Refilwe Moloto spoke to ad agency Have You Heard's Ryan McFadyen to find out more:

The fact that so much stress is caused by having inadequate financial resources is something we've never really looked at.

Ryan McFadyen, Co-founder and Head of Strategy - Have You Heard

What's really interesting is that prior to Covid, 73% of people found finances the biggest source of stress in their lives.

Ryan McFadyen, Co-founder and Head of Strategy - Have You Heard

McFadyen says increased financial stresses have led to an increase in people seeking financial therapy.

He says it's very specific support looking at underlying emotions around financial insecurity.

If you don't address the fears or emotional links to how you manage your finances you'll never get into good behaviour.

Ryan McFadyen, Co-founder and Head of Strategy - Have You Heard

Listen to the full interview below:

This article first appeared on CapeTalk : Money matters keeping you awake at night? Have you considered financial therapy?

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