Maslow’s Hierarchy of Needs shows that unmet basic needs make it harder to achieve emotional stability. As the cost of living crisis rages on, many of us may find ourselves wondering if stable mental health is merely an idea, a dreamy future-state, or a thing of the past. When you’re constantly worrying about whether you can afford a place to live, the ability to eat dinner, or being able to take the bus to work, it makes it just that much harder to enjoy intimate hangouts with friends, or looking forward to a future trip. The guilt associated with growing debt, or spending an extra $5 on something for yourself for once can eat you alive.

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We’re living in a time where, for many, owning a home is likely never possible. Breaking even at the end of the month is a sign of relief. And the search for barter groups, funky produce, and ride sharing, are making their ultimate come-back. In a time where food, housing, travel, and basic necessities are costing more than they ever have, in conjunction with wages remaining relatively stable, we’re making the same, but paying more. And this? It raises anxiety, depression, chronic stress, and even suicidal thoughts. Young people especially are faced with the reality that as they work themselves to the brim, they’ll only ever just be able to get-by. It will be difficult for them to save for their future, difficult to travel, unlikely that they can afford little luxuries (like takeout, concerts, uber), or even own a home.

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During a period of their lives when they should be exploring, experimenting with the world around them, and trying new things, they’re forced to save every penny they can in exchange for a little bit of stability. With this, it means that people likely don’t have extra money for therapy or mental health resources, and may turn to other unhealthy coping mechanisms to deal with the stress. Luckily there are free or low-cost ways to limit the weight of these stressors: exercise, meditation, nature, journaling, and education. These are all proven activities to reduce the burden and improve mental wellbeing. 

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Skyward is built on the premise of providing free financial education to all Canadians, and we stand by it. If you want 1:1 support, we’re willing, able, and ready to provide it. Book your session at www.skywardfinancial.org and we’ll talk to you soon. 

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