How Financial Freedom Can Help Protect Women’s Mental Health

 

How Financial Freedom Can Help Protect Women’s Mental Health

While at the pediatricians with my daughter a while back, a mother came in with her little boy, maybe three years old.  She left the child at the nurse’s station and went out to answer her phone; when she returned she was in tears and soon started to narrate the source of her frustration to the elderly nurse manning the nurse’s station.

 The long and short of it was that her domestic partner was the one on the phone, blaming her for their child’s frequent illnesses and reminding her that the mounting medical bills would fall on him. Apparently it wasn’t the first time she was being blamed.

As the kindly nurse tried to get her to calm down I wondered: if the roles were reversed, would that young lady’s partner have been blamed and reduced to tears the way she was?   Why wasn’t he offering support at a time she needed it?

Women carry hidden weights

That young mum at the clinic is certainly not alone. Women still carry most of the caregiving responsibilities, not just for children, but for aging parents and extended family. That emotional load is heavy enough on its own.

And then add to that financial stress. For many women, inability to pay for essentials, including  health services leads them to depend on an unsupportive partner or abusive partner.

 

The financial health-mental health connection

Investment company Ellevest carried out a study that revealed that financial stress disproportionately undermines women’s mental health. According to the Ellevest Financial Wellness Survey, nearly half of women say financial stress has hurt their mental and emotional health, and 40% say it hurt their physical health too.

Financial strain and the resulting emotional fallout can deepen stress, and leave women bearing the brunt emotionally and financially:

·       Financial challenges can cause feelings of anger, shame or fear, and even lead to relationship difficulties, or depression.

·       Mental health issues make it harder to manage money, leading to impulse buying late payments on bills, and piling up debt.

·       Poor money management then leads to even more financial stress and mental health issues and the cycle repeats itself

Why investing is part of the solution

Financial stress thrives on uncertainty, lack of access to information and lack of control.

Ellevest’s survey found that 41% of women believe they’d be in a better financial place if they had stronger networks of resources, guidance, and inspiration.

 Investing is often framed purely as a way to grow wealth, but it’s also a powerful mental health tool.

When women start investing, even small amounts, something shifts. they’re not just earning, the financial security that follows also creates options and helps women reclaim their agency. That, in turn, eases the mental load.

Here’s why:

• Control and confidence: Investing turns passive saving into active decision-making, giving women a greater sense of control over their financial futures. Talking about money with friends, financial advisors or in women-focused groups helps break the isolation and builds confidence.
• Future security: Knowing your money is working for you can help ease anxiety about emergencies, retirement, or unexpected life changes.
• Breaking the cycle: As investments grow, financial resilience builds, which in turn reduces the day-to-day pressure of making ends meet.

A study by the FINRA Foundation showed that women with investment portfolios, regardless of size, reported lower stress levels than those without, even at similar  income levels.  

If we want to protect women’s mental health, we can’t leave money out of the conversation.

If you’re feeling the mental strain of financial pressure, it’s worth taking small but deliberate steps toward investing.

 Even if you start with just a small amount.

 

💡 Quick steps to reduce money stress & start growing your wealth

1. Track your numbers. Write down your income, expenses, and debts. Clarity is the first step to control.
2. Automate savings. Even if it’s $5 a week, consistency matters more than amount.
3. Learn the basics. Spend 10 minutes a week on a beginner-friendly finance podcast, blog, or YouTube channel.
4. Invest small, start now. Use low-cost platforms that allow you to begin with small amounts.
5. Talk about money. Share your wins, struggles, and questions with trusted friends.

 

By Martha Songa

miss.songa@gmail.com