First Psychology blog

Have you ever wondered why spending money can feel like a quick fix when you’re feeling down? Whether it’s treating yourself to a new outfit or booking a spontaneous holiday, spending can provide a temporary emotional lift. But behind this brief satisfaction often lies a deeper connection between money, spending habits, and mental health – something that becomes even more apparent during the festive season. The connection between money, spending, and mental health Many people use money as a way to gain control when life feels overwhelming. Whether it’s buying things to gain approval, "keep up appearances," or escape uncomfortable emotions, spending often serves as a temporary mood booster. Yet, these purchases can lead to a cycle of overspending and feelings of inadequacy when the initial emotional lift fades. Social media and advertising only add to this problem, making us believe that owning certain items will make us happier or more successful. But the sense of fulfilment ...

Throughout the winter season, many of us find ourselves grappling with excessive fatigue and low energy levels. With the added pressures of seasonal holidays, the cold weather, shorter daylight hours and financial worries, it’s important to undertake effective strategies that can help combat fatigue. The pressures of seasonal holidays The seasonal holidays can bring both joy and stress. While festivities offer an opportunity for celebration, they often increase social obligations, disrupt routines and create feelings of overwhelm, ultimately leading to fatigue. To reduce the impact of seasonal pressures, we should establish realistic expectations and prioritise self-care. Recognise the importance of setting boundaries, delegate tasks and take regular breaks to enjoy ourselves. Engaging in stress-reducing activities such as exercise, deep breathing or meditation can also alleviate tension and help us to relax. How winter affects our energy levels The shorter days and reduced sunlight ex...

Over the last year we’ve seen huge hikes in petrol, energy and food prices and it’s likely you’ll be experiencing the backlash from these sudden increases in the cost of living. For many people across the UK, the rises in inflation have had an impact on their finances and ultimately their mental health. According to the TELUS Health’s Mental Health Index , more than a third of the British workforce have said that inflation is their main cause of stress and that their mental health has declined. How is mental health impacted by financial stress? Financial stress can seriously affect our mental wellbeing and can cause anxiety, stress, depression and relationship issues, especially when you’re experiencing the following: You can’t manage to pay all your bills. You find yourself having to make difficult decisions about your spending. You face job insecurity, or you have to take on additional work to make ends meet. Worrying about how you’re going to pay your bills each month, afford enough...

In a society filled with expensive technology, designer clothing and flash cars, you can see how tempting it is to want the best of everything. But do we want these things to make us feel good or is it ultimately to impress the people around us and post about it on social media? Sadly, much of the time, people crave belongings to increase their social status rather than to make themselves happy. Although our possessions might impress some people, generally, most of us are more impressed by how a person behaves. Imagine, if you were the only person to exist on the planet, would you really strive so hard to possess all the same unnecessary belongings? Would you still wear designer clothes, or would you opt for something more comfortable? What many of us don’t realise is that we also buy unnecessary things to fill a void within ourselves or to cheer ourselves up when we’re feeling down. However, these are just temporary fixes and even though you might feel good initially, the feel-good ...

It’s that time of year again when the festive season creeps up on us and we lose ourselves in a frenzy of buying last minute gifts and tying up every single loose end at work so that we can take some time off. Why is it that this ‘wonderful time of the year’, which should be a time for celebrating and enjoying the festive atmosphere, turns into a stressful affair? Emotional and financial worries are usually to blame for the amount of stress we undergo, causing us headaches, nausea and insomnia, which can have a detrimental effect on the heart. Research published by medical journal,  BMJ , has shown that there is a higher risk of heart attacks during the Christmas period, and it’s no surprise. Christmas can be a very expensive time of year that many of us can’t afford but it doesn’t have to be that way and there are ways we can ease the stress and the financial burden. Cut back on spending Although it’s considered to be a season of giving, this doesn’t mean you have t...

Although it should be a happy time of the year, the festive season can be a worrying time where finances are concerned. In the run-up to Christmas, when we're expected to be preparing for a season of fun and festivity, many of us become more anxious and stressed as the Big Day approaches. Undoubtedly, it’s an expensive time of year when money worries become even more concerning. Debtpression We’ve all the heard the phrase ‘money is power’, and a study in the Journal of Consumer Research saw participants actually salivating at the concept of money when primed to feel they lacked power. So what then of debt? How does it effect how we feel about ourselves and what is debtpression? Many people equate money with power and success, believing it to make them appear more attractive, popular and successful to others. Conversely, not feeling able to spend can create a strong sense of powerlessness and failure, which can be highly disturbing. Debt equates to emotional pain. Indeed, ...

Losing your job or taking time out of a career to return to studies / undertake parental duties has massive financial implications for us all. However for men – who are still often perceived as the main breadwinner and provider – the stress can be considerable and really take its toll on an individual’s mental health. A study in 2016 found that men are twice as likely to feel responsible for the finances in their family or relationship as women. Nearly a third of all men, feel the financial burden in a relationship and believe they are responsible for financial matters, compared to just 14% of women. This could be for a number of reasons, not least the gender stereotypes we are all exposed to from childhood, or the fact that many of the highest earning jobs are traditionally regarded as being male roles. Either way, when a man is no longer able to bring money into his household for whatever reason, it can impact on his mental wellbeing to a greater extent than for his female counterpa...

Following on from the spending driven days of Black Friday last week and Cyber Monday yesterday, today is increasingly becoming known as Giving Tuesday, a global day devoted to thinking of others and giving back to the community. Giving Tuesday began in 2012 to encourage people to donate their money, time and services to their community. Some examples include giving blood, donating to a charity, volunteering to help a charity or organisation, the list of how we can give to others is endless. The idea of giving is, of course, one we are all familiar with, particularly at this time of year. The holiday season is a time when we traditionally give to others. However, we often see giving as about gifts rather than our time or services. With many feeling the pinch of the latest government cuts and job losses, it is important to remember that giving something as simple as a smile or a kind act can brighten people's lives in ways that tangible gifts cannot reach. And it is not ju...

Friday 13th March is approaching and as well as the usual superstitions, it is also 'No Smoking Day'  - a fantastic opportunity to finally kick the habit once and for all!  Overall, tobacco smoking is estimated to be responsible for more than a quarter of cancer related deaths in the UK, that’s over 100, 000 deaths a year. Furthermore, the average smoker will spend more than £2700 a year on cigarettes. The dangers and costs of smoking are well publicised, but despite the facts, it can still be a huge struggle to quit. However, other people have successfully quit before you - follow these tips to get one step closer to completing the challenge. Don’t keep putting it off. Plan to quit on the 13th March and do it!  Studies have shown combining medicine with social support is the most successful method for quitting. So, get prepared before the big day. Talk to your pharmacist or GP about possible nicotine replacement therapies and let your friends and family know you're ...

During the courting stage of a relationship we are often impressed when our partner flashes the cash. However, this can quickly change as responsibilities grow and our finances become shared. Money troubles can create extreme stress in a relationship and, in the current economic climate, they are becoming an increasingly common cause of divorce. The key to dealing with money troubles is honesty. Trying to hide your spending will not solve the problem, but will result in your partner feeling betrayed. Talk openly with them and explain exactly how much money has gone. Anger may be your automatic reaction if your partner has overspent, but try and remain calm so you can work together to find a solution. If you earn significantly more than your partner it can be easy to blame them for any financial troubles. But it is very important not to use money as a weapon. If you have agreed to share your finances then you must not regard money as 'mine' or 'yours'. Ensure you both fu...

With many of us feeling the pinch, it can be easy to confuse being better off financially with greater well-being. However, an innovative measure known as the Happy Planet Index (HPI) questions this idea by examining how each country converts the planet’s natural resources into longevity and happiness for its citizens. Surprisingly, the country with the highest level of well-being amongst its citizens and the highest HPI, is Costa Rica. Costa Rica is by no means the richest country in monetary terms but uses only a quarter of the resources most countries use, and was ranked the 6th happiest nation on Earth by a recent Gallup poll (2010). In contrast, the USA, which uses triple the resources of the average person and whose citizens’ well-being has remained the same over the last 50 years in spite of this, has a HPI of 114 only one place above Nigeria. So why is this? Perhaps it’s because countries like America measure success in terms of money and material possessions which are not ...

Following on from our previous blogs on the topic of spending, here are some final hints on how to be a happier shopper. Get more pleasure for your money  It's good to have things to look forward to in life and the same applies to spending. Unfortunately, we live in a world where we can 'buy now pay later' and so the pleasure we gain from the anticipation and uncertainty of delaying purchases is lost. You'd think that getting what we want, when we want would more than make up for this loss of anticipation but the ability to wait actually increases the pleasure we derive from our money and improves our ability to make informed decisions for the future, rather than impulsive ones in the present. Ask others for advice  We like to think we know best and spending money is no exception but we can learn to spend money more wisely by heeding the advice of others. Research has shown other people can work out what we'll enjoy simply by watching our faces and when making p...

Following on from our previous blog, here are some more ways to be wise with your money. Spend on others  Contrary to what we might think, if we’re going to spend money, research has shown that spending money on others makes us happier than spending it on ourselves. Individuals who give a greater percentage of their income to others or charity are happier than those who spend it on themselves (Dunn et al. 2008). Giving to others makes us feel good about ourselves and also helps strengthen our relationships both of which make us happy. We assume spending money on ourselves will make us happier but the mere mention of money has a negative effect, making us less likely to help or spend time with others and less likely to donate to charity. Ironically, doing less of these things makes us less happy so we must fight our instinct to indulge ourselves and spoil others instead. Buy less insurance  We hate loss more than we love gain and insurance providers play on this risk aversi...

With the budget recently announced and spring fast approaching, along with that inherent urge to spring clean our lives, many of us would like to get on top of our spending. Below are some helpful hints on how to better spend your money and keep happy. Small and often rather than large and seldom  It’s true, you can have too much of a good thing. So, lots of small pleasures rather than fewer large ones give us more pleasure and in turn, make us happier. Think about it. Eating twice as much cake in one sitting might seem better, but it certainly doesn’t give us twice the pleasure. Also, savouring the small things makes us happier than expecting too much from life. Avoid comparison shopping You’d think that comparing products and services would be a good idea to ensure we get the best deal for our money. However, when comparing similar products we tend to perceive greater differences between them and believe the enjoyment we will derive from the faster, bigger, better produ...

We know that this time of of year can be depressing - low levels of light, cold weather, less money than usual after Christmas... Instead of focusing on this low mood however, an alternative approach taken from positive psychology is to focus on gratitude. This concept has long been embraced by religions and philosophies who view gratitude as a manifestation of virtue, and an important part of health and well-being. More recently psychology has realised the potential of gratitude. Indeed, Michael McCullough a psychology professor at the University of Miami believes when you stop and count your blessings, you hijack your emotional system. In other words, you direct your attention to good things. Practising gratitude on a regular basis can change the way our brain neurons fire into more positive automatic patterns. These positive emotions can ease distress and broaden our thinking. Gratitude can help us feel connected and remind us that we are part of something bigger. Here are s...

The holidays are nearly upon us and it may sound ironic but the holiday season can be very stressful or even totally overwhelming for some people - particularly those who are prone to anxiety. Here are some tips on how to manage your anxiety during the festive season. Too much to do  You may be feeling pulled in many different directions with work, family as well as shopping and entertaining. If this is the case, take a moment to slow down. Make lists, plan menus and give yourself plenty of time. By organising your time and prioritising tasks you can minimise stress and anxiety. Too little money  As early as October we may see adverts for Christmas which show gifts piled up under the tree and tables full of tempting food. With expectations such as these, it is no wonder we may feel the need to overspend. In order to avoid temptation, set yourself a budget and make a list of how much you can spend on each person and stick to it. Consider buying joint gifts or making them....

With Christmas just around the corner and the chancellor due to announce his November budget in just a few weeks, many of us may be worrying about how we can afford all those parties, presents and festive trimmings,  particularly if our bank balance isn't looking too healthy. Debt can make us feel depressed and when we are low in mood we are likely to spend money to make ourselves feel better which unfortunately leads us further into debt. So it seems there is a close link between debt and depression and this concept has been referred to as ‘debtpression’. We've put together five tips on how to deal with debtpression. Understand your spending   You may think you spend money randomly but often your spending follows a pattern. Some people buy things to make themselves feel or look better. Identifying the triggers that make us want to spend money, by perhaps keeping a diary of thoughts, feelings and the situations, can help us feel more in control and better able to change ...