MONEY AND MENTAL HEALTH : WHY FINANCIAL EDUCATION MIGHT BE A LIFE-SAVING SKILL

KidVestors
May 3
5 min read

Updated: 6 days ago

Money can be a lot. Whether it’s trying to keep up with bills, figuring out how to pay off student loans, or just the overwhelming pressure to “have it all together,” finances can seriously weigh on our mental health. And with May being Mental Health Awareness Month, it’s the perfect time to talk about something we don’t always say out loud: the strong (and often overlooked) link between money and mental health.

Spoiler alert: it’s not just about having enough money to buy what you want. It’s about the stress, the shame, and the constant pressure that money, or the lack of it, can bring. And if we want to break this cycle, we’ve got to start talking about it openly, honestly, and early.

Money Anxiety: When Money Hurts More Than Just Your Wallet

Here’s the truth: money anxiety and financial stress impacts more than just your bank account. It can show up in your body. Your sleep. Your relationships. Your job performance. Even your appetite.

One study reported that 40% of Gen Z experience heightened anxiety, stress, or worry after paying basic expenses like rent. And according to the American Psychological Association’s Stress in America report, 72% of Americans said they felt stressed about money at least some of the time, and many reported physical symptoms as a result—including headaches, fatigue, stomachaches, and even insomnia. Financial problems are also one of the leading causes of relationship breakdowns and divorces.

So it’s not just an inconvenience. It’s a health issue.

And for some, it’s even more serious than that.

The Dangerous Intersection of Debt and Depression

Financial hardship is more than a frustrating reality. It can be deadly.

Studies have found that people experiencing financial stress are 20 times more likely to attempt suicide than those who aren’t under financial pressure (source: Royal College of Psychiatrists, 2019).

Let that sink in. Twenty times.

Why? Because when bills are piling up and there’s no relief in sight, the feelings of hopelessness and despair can become all-consuming. Money troubles can strip away our sense of security, dignity, and self-worth. It’s no wonder that financial distress is a major risk factor for suicide.

A 2023 study published in The Lancet further supports this, showing a strong link between economic downturns, personal debt, and rising suicide rates. And this isn’t just a problem for adults—young people, especially teens and young adults, are experiencing growing levels of financial anxiety, particularly as inflation, student loans, and the rising cost of living loom over their futures.

The Problem Isn’t Just a Lack of Money. It’s a Lack of Education and Support

Now, before we jump to conclusions, this doesn’t mean throwing money at people will solve all their problems. It’s way more nuanced than that.

While financial literacy can be an incredible tool, it is just one part of the solution. Without access to mental health care, emotional support, and systems that address the root causes of poverty and inequality, money lessons alone won’t fix everything.

But they do play a critical role. Especially when they start young.

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The Sooner, the Better: Why Financial Education Should Start Early

Imagine being taught how to manage money, create a budget, understand debt, build savings and invest all before you graduate high school. How different would your life have looked?

Teaching kids and teens about money early on is one of the most powerful ways to prevent financial stress from becoming a lifelong struggle. When young people grow up with the tools to make confident money decisions, they’re less likely to fall into the traps of predatory lending, credit card debt, or bad budgeting habits.

It’s not just about teaching them how to save, it’s about reducing future stress and protecting their mental well-being. It’s like giving them an emotional armor for adulthood.

How KidVestors Is Helping Break the Cycle

That’s where we come in.

At KidVestors, we believe that teaching financial literacy should be holistic and mental-health-minded. That means addressing not just how to manage money, but also why it matters for your overall well-being.

Our platform doesn’t just teach kids how to invest in stocks and real estate we teach them how to invest in themselves. Through engaging lessons, interactive tools, and real-cash rewards (hello, motivation!), we’re showing youth across the globe how to:

Create a budget that works for them
Understand needs vs. wants
Set financial goals and crush them
Build long-term wealth, not short-term spending habits
Recognize that financial literacy is a form of self-care

And we’re doing it in a way that’s culturally relevant, gamified, and designed to keep kids engaged not overwhelmed.

By making money management feel fun and empowering (instead of scary and shameful), we’re helping to lower the financial anxiety that could otherwise follow them into adulthood.

Let’s Normalize the Money And Mental Health Conversation

Mental health struggles related to money don’t come with neon signs. They show up quietly in sleepless nights, panic attacks, missed calls from bill collectors, or canceled plans with friends. They can affect anyone regardless of income, background, or how “together” they look on the outside. That’s why breaking the silence matters.

By normalizing conversations around both mental health and financial wellness, we give people the space to ask for help. To say, “I’m struggling.” To find tools that empower them, not shame them.

And perhaps most importantly, we ensure that the next generation doesn’t carry the same weight we did.

It’s Okay to Ask for Help

If you’re struggling with financial anxiety or know someone who is, you’re not alone. And you’re not weak for feeling this way. Reach out to someone you trust, speak to a financial coach or counselor, or consider talking to a mental health professional. There is no shame in needing support—especially when the stakes are this high.

And if you’re a parent, teacher, or mentor know that every time you talk to a young person about money, you’re planting a seed that could change (or even save) their life.

Money management isn’t just about wealth. It’s about well-being. And when we start early, we’re not just raising smart investors we’re raising emotionally resilient humans.

Want to be part of the movement that’s changing the future of financial education?

Check out how KidVestors is helping kids and teens learn to invest in both their money and their mental health.

Sources:

American Psychological Association (APA), Stress in America Report
Royal College of Psychiatrists, 2019 Study on Debt & Mental Health
The Lancet Public Health, 2023: Economic Hardship and Suicide Risk
National Alliance on Mental Illness (NAMI) – Mental Health and Financial Wellness