Managing Money, Mental Health, and Festive Finances

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 is often short-lived, leaving us feeling unworthy or dissatisfied.

 
Spending to soothe emotional needs

Buying gifts or spending money on others is often seen as an expression of love, but it can also be a way to mask deeper emotional issues, such as loneliness or low self-esteem. In such cases, spending becomes less about the item or experience and more about soothing uncomfortable feelings. However, this approach often leaves us feeling worse, both emotionally and financially, in the long run.

 
Why we feel the strain at Christmas

As the festive period approaches, the pressure to spend can be overwhelming. While it’s meant to be a time of joy, Christmas is also one of the most expensive times of the year, leaving many of us feeling stressed and anxious. Debt and financial strain often peak during this season, with increased spending leading to a sense of powerlessness for those already struggling to manage their money. This can result in what some refer to as ‘debtpression', where financial worries and mental health issues feed into each other.

Debt can lead to feelings of guilt, anxiety, and low self-esteem, especially when spending becomes a way to deal with emotional struggles. While many turn to retail therapy for comfort, overspending only deepens the problem in the long run, making it harder to regain control over both finances and emotional wellbeing.

 
Tips for budgeting during the festive season

If the financial pressure of Christmas is affecting your mental health, there are practical steps you can take to ease the burden:

• Review your finances: Taking a closer look at your budget is crucial. Prioritise paying essential bills and set a realistic spending limit for gifts and celebrations.
• Avoid credit where possible: Tempting as it might be to use credit cards or loans for Christmas shopping, borrowing without a clear repayment plan can quickly lead to further debt.
• Be creative with gift giving: Many families choose to focus gift-giving on children, or agree to buy less expensive gifts for adults. Alternatively, consider homemade or low-cost gifts, such as offering a favour or creating personalised presents.
• Plan ahead: Spreading the cost of Christmas can help ease the financial strain. Either save throughout the year or buy gifts gradually in the months leading up to the festive season.

It’s important to remember that Christmas should not come at the expense of your mental health. While the pressure to spend can feel immense, focusing on meaningful, low-cost ways to celebrate can make the season more manageable.

 
What can you do about It?

If you find yourself caught in a cycle of emotional spending, it’s essential to explore the underlying causes. Taking time to understand your emotional triggers can help break the cycle and lead to a healthier relationship with money.

Meal prep ideas for mental wellbeing

Winter can be a challenging time for mental wellbeing due to shorter days, colder weather, and less sunlight. However, meal prepping with a focus on nutritious and comforting foods can significantly boost your mood and overall mental health.

Research from the American Psychological Association suggests that dietary patterns can influence mental health outcomes. One study found that participants who improved their diet by eating less junk food and more nutrient-rich foods, such as fruits, vegetables and fish, experienced significant improvements in their depression symptoms.

Meal prep ideas to help you stay mentally and physically healthy during the winter months:

1. Warm and nourishing breakfasts

Starting your day with a warm, nutritious breakfast can set a positive tone for the rest of the day.

Consider preparing:

• Overnight oats: mix oats with milk or a dairy-free alternative, chia seeds, and a touch of honey. Add fruits like berries or bananas and let it sit in the fridge overnight. In the morning, you can warm it up for a comforting start.
  
  
• Breakfast burritos: Prepare a batch of breakfast burritos with scrambled eggs, black beans, spinach, and cheese. Wrap them in wholewheat tortillas and freeze. Simply reheat in the morning for a quick, warm meal.
  
  
• Slow cooker porridge: Use a slow cooker to make a large batch of porridge with apples, cinnamon and a bit of maple syrup. Portion it out for the week and reheat as needed.

2. Hearty soups and stews

Soups and stews are perfect for winter meal prep. They are easy to make in large batches and can be stored in the fridge or freezer. Some ideas include:

• Chicken and vegetable soup: a classic chicken soup with plenty of vegetables like carrots, celery and spinach can be very comforting. Add some whole grains like barley or quinoa for extra nutrition.
  
  
• Lentil stew: lentils are a great source of protein and fibre. Cook them with tomatoes, carrots, onions, and spices like cumin and turmeric for a hearty stew.
  
  
• Butternut squash soup: roast butternut squash and blend it with vegetable broth, onions, garlic, and a touch of cream or coconut milk for a creamy, warming soup.

3. Comforting main dishes

Main dishes that are both nutritious and comforting can help improve your mood during the winter months:

• Baked salmon with vegetables: salmon is rich in omega-3 fatty acids, which are beneficial for brain health. Bake it with a variety of vegetables like brussels sprouts, sweet potatoes, and bell peppers.
  
  
• Vegetarian chili: A hearty chili made with beans, tomatoes, corn, and spices can be very satisfying. Serve it with a side of whole grain bread or brown rice.
  
  
• Cottage pie: Use lean ground turkey or lentils to make a hearty and flavoursome base and top with mashed sweet potatoes instead of regular potatoes for a healthier twist.

4. Healthy Snacks

Having healthy snacks on hand can help maintain your energy levels and mood throughout the day.

• Homemade granola bars: make your own granola bars with oats, nuts, seeds, and dried fruits. Sweeten them with a bit of honey or maple syrup.
  
  
• Veggie sticks with hummus: cut up a variety of vegetables like carrots, cucumbers, and bell peppers. Pair them with homemade or store-bought hummus for a nutritious snack.
  
  
• Fruit and nut mix: create your own mix of dried fruits and nuts. This can be a great snack to keep at your desk or in your bag for a quick energy boost.

5. Mood-boosting ingredients

Certain ingredients are known to have mood-boosting properties. Incorporate these into your meals:

• Dark leafy greens: spinach, kale and Swiss chard are rich in folate, which can help reduce symptoms of depression.
  
  
• Berries: blueberries, strawberries, and raspberries are high in antioxidants, which can help combat stress.
  
  
• Nuts and seeds: almonds, walnuts, chia seeds and flaxseeds are great sources of omega-3 fatty acids and magnesium, both of which are important for brain health.
  
  
• Fermented foods: foods like yoghurt, kefir, sauerkraut, and kimchi contain probiotics that can improve gut health, which is linked to mental wellbeing.

For some hearty and wholesome recipe ideas, check out our First Psychology cookbook, coming soon!