Beyond Finance Continues Advocacy for Mental Health Awareness Month: Bridging Financial Health and Mental Well-Being
16 Mayo 2024 - 3:48PM
Following the successful launch of Financial Practice Week from
April 22-26, Beyond Finance, a leading financial services company,
remains steadfast in its commitment to promoting mental health
awareness and improving consumer financial wellness.
Building on the momentum of Financial Practice Week, Beyond
Finance will focus on Mental Health Awareness Month
throughout May. Recognizing the profound impact of
financial stress on mental well-being, Beyond Finance aims to
foster honest conversations and support individuals navigating
life’s challenges.
Dr. Erika Rasure, Chief Financial Wellness
Officer and Certified Financial Therapist for Beyond Finance,
recently emphasized the critical link between financial wellness
and overall quality of life: "Quality of life can go down because
of our debt burden. The adage 'We are only as sick as our secrets'
holds when we have no one to talk to about financial stress."
Last month, Beyond Finance commissioned a survey involving 1,065
respondents which underscores the connection between financial
wellness and improving mental health. Some of those numbers
include:
- 52% of respondents identified unemployment or lack of income as
the most significant barrier to improving their financial
well-being. The stress and anxiety stemming from financial
insecurity due to unemployment can severely impact mental health.
Persistent financial worries contribute to heightened anxiety and
depression, highlighting the need for financial support systems to
alleviate these mental health burdens.
- 82% of respondents indicated they do not have at least $1,000
in savings to cover unexpected costs and emergencies. The absence
of an emergency fund leaves individuals vulnerable to financial
shocks, increasing stress and anxiety levels. This financial
fragility can perpetuate a state of constant worry and mental
strain, underscoring the importance of building financial
resilience to improve mental health.
- 40% of respondents cited unemployment at the biggest source of
financial stress, while 35% cited medical expenses. Financial
stress from unemployment and medical expenses can lead to severe
mental health challenges. The pressure of managing financial
instability, especially in the face of health issues, can
exacerbate feelings of helplessness and depression. Addressing
these financial stressors is crucial for improving mental health
outcomes.
"As we transition from Financial Practice Week to Mental Health
Awareness Month, our mission remains clear: To advocate for the
holistic well-being of individuals," said Chief Operations
Officer Lou Antonelli at Beyond Finance. By focusing on
the intersection of financial well-being and mental health, we
strive to empower individuals with the tools and resources needed
to achieve financial stability and true peace of mind."
Beyond Finance will continue promoting financial best practices
throughout May to improve your mental and economic well-being. The
Beyond Finance newsroom and blog offer helpful information,
guidance, and resources, such as stress management techniques and
strategies for cultivating a healthy relationship with money.
About Beyond Finance, LLCBeyond Finance, LLC,
based in Houston, is one of the nation’s largest and most
influential debt consolidation services and financial technology
organizations. By standing alongside clients wherever they are in
their debt journey, Beyond Finance uses personalized consolidation
services and innovative technology to give them the clarity,
confidence and tools they need to move beyond debt. Since 2017,
Beyond Finance has moved over 300,000 clients beyond more than $1
billion of debt. In 2024, Beyond Finance was awarded with
ConsumerAffairs’ inaugural “Buyer’s Choice Awards” for Best
Customer Service, Experience with Staff, and Transparency related
to personal finance and its debt consolidation programs. They have
additional offices in Chicago, Illinois and San Diego, California.
For more information, visit BeyondFinance.com.
MEDIA CONTACT:Yolanda
Schuffordyschufford@beyondfinance.com
Shawn Paul Woodswood@beyondfinance.com