Having a low income is not just a quality of life issue. It’s a mental health one as well.
One of the topics that’s hard to avoid in national news these days is the “worker shortage”. Some industries- especially restaurants and hospitality- report having problems filling their staff capacity.
There are many possible reasons we are seeing this trend, including the traditionally lower wages that workers in these industries receive. In fact, many major companies have announced in recent weeks that they are enacting wage hikes.
Financial Insecurity – Low Income and Mental Health
Financial insecurity and/or a low income can negatively impact mental health in many ways. There is the stress of the potential for homelessness, food insecurity, or otherwise not being able to meet basic needs. Someone who struggles to make ends meet may also not have quality health insurance or be able to afford healthcare, including mental health support. And the impact of negative mental health can lead to problems holding a job or managing money, which creates an unfortunate cycle that may lead to further financial insecurity.
Some research has suggested that even a small increase in the minimum wage could correlate to a drop in the suicide rate, especially among low-educated populations. That’s because financial strain like debt and housing instability can be considered risk factors for suicide.
And this wage question affects not only the worker, but potentially their families. The Centers for Disease Control and Prevention says the risk of traumatic childhood events can be reduced with a financially secure household. These traumatic events can have negative mental health consequences on children now and later in life.
Working But Still Financially Insecure
Employment doesn’t always mean a comfortable living wage. The United Way of Florida commissioned a study of people who are employed, but live paycheck to paycheck because of the high cost of living, stagnant wages, childcare and transportation costs, and related challenges.
In 2018 in Florida, 46% of households struggled to make ends meet- 33% of the families were above the poverty level but still short of what they needed to support their household, despite being employed. In fact, the study found that the poverty rate in Florida was relatively flat in the prior decade, but the number of the “working and above poverty, but financially insecure” households increased.
Duval County is slightly better than the state average, with 40% of households struggling, 27% of them above the poverty level.
Managing Money and Mental Health
If you or someone you know is struggling with financial security, connecting with resources to support not only short-term needs but also long-term planning can be helpful. The United Way of Northeast Florida is a great first step for directing you to and connecting you with financial assistance, planning resources, budgeting help, and more.
It may also help to try to build a community to support some of the high-cost needs you have. For example, if you struggle to afford childcare, do you have friends and family who you can collaborate with to form a babysitting ring? Or if your grocery bill is climbing, are neighbors willing to give you their coupons? These neighbors and loved ones may need support as well, so building these coalitions can help you all.
While you start to act on these tangible needs, it’s important to directly address the mental health component as well. To alleviate stress, consider self-care steps like taking walks, enjoying a bubble bath, reading a good book, or however else you can unwind.
Getting professional support can be another important resource. Jax Therapy Network not only has a searchable database of local, licensed mental health providers, but each provider’s profile lists the average cost of a visit and whether insurance is accepted, so that you can budget accordingly.
If you are in crisis, there are free, 24-hour resources available as well, including the National Suicide Prevention Lifeline at 1-800-273-8255.
Ready to find your therapist? Search the Jax Therapy Network and find help with anxiety or depression by professional therapists and counseling support.
