If you have a mental illness and manage your own money, you face some unique challenges that people with healthy minds do not have to deal with. If you fall into this category, there are many things you should know about budgeting. We’ve created this guide as a resource so that you can go over it whenever something comes up and avoid the money traps that most people without mental illnesses will never think twice about.

Budgeting Strategies for People With Mental Illness

Budgeting can be difficult, especially if you have a mental illness. This article will help you figure out how to budget your income and expenses so that you can avoid any unnecessary stress or financial hardship.

Start by making a list of all of your monthly expenses. This includes rent or mortgage payments and utilities. It also includes food, transportation costs, and medical bills. Add up all of these expenses and compare them with your monthly income. If there is a large difference between these two numbers, then it’s time to make some changes!

If you are struggling with budgeting because of mental illness, then consider ways that you can save money by reducing your spending on entertainment or hobbies like drinking at bars or going out to nice restaurants. You could also try finding cheaper ways to get around town by biking instead of driving or using public transportation instead of taxis or Uber rides. With some creativity and ingenuity, there are plenty of ways for people with mental health issues to save money without sacrificing quality of life!

Budgeting is a skill that everyone can use—and it’s one that can be especially useful to people with mental illness.

People who live with mental illness often have trouble keeping track of their money, which can lead to stress, anxiety, and even financial problems. It’s not uncommon to find yourself having to ask friends or family members for help paying bills, or worse yet, falling behind on your rent or mortgage.

Budgeting isn’t just about managing your finances; it’s about managing your health too. Budgeting is like taking medicine: it helps you feel better and keeps you from getting sick in the first place. When you have a budget, you can plan ahead for things like unexpected expenses and save money for emergencies too.

If you’re living with a mental illness, you might think that your budgeting skills are going to be affected by the condition. But, in fact, there are many strategies you can use to keep your finances in check.

First of all, try not to worry about what might happen if something happens to you. Instead, focus on how much money you have available right now and make sure it’s being allocated in the way that makes sense for your situation.

Second of all, try not to stress about saving too much money—the point isn’t to hoard every penny from now until forever; it’s just to make sure that when something happens, or when an emergency comes up, you aren’t left without any resources at all.

Thirdly… well… thirdly just keep going! There are many ways for people with mental illness to budget their money effectively and successfully manage their finances without worrying about what might happen if they get sick again (or if someone else gets sick).

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Create a budget and stick to it

Have you ever heard the expression “a picture is worth a thousand words”?

Well, that’s kind of what budgets are. They’re like a picture of your financial life: they show you exactly where your money is going and what your priorities are. And if you use them correctly, they’ll help you get where you want to go.

Creating a budget is the most important step to getting your finances in order.

A budget helps you figure out how much money you have to spend each month on things like rent, groceries, bills, and fun stuff like going out with friends or buying new clothes. If you don’t know how much money you have coming in each month, then it will be hard to know how much is left over at the end of the month.

Once you’ve set up your budget to include every single thing that costs money—and even some things that don’t cost anything but would be nice to have around—you should get in the habit of sticking to it. It’s easy to find yourself spending more than you planned when you see something new or exciting—but if you stick with your budget and only buy the things that are written down on it, then there won’t be any surprises when it comes time for payday!

Budgets are so important because they help us make decisions about how we spend our money—and ultimately, about how much money we have left over for things like groceries, gas for our cars, rent/mortgage payments… even fun stuff like going out with friends or buying concert tickets!

So how do you create a budget? It’s simple: just write down all the things you spend money on every day (like food and bills) and then decide how much each one costs per month or week or whatever amount makes sense for the item. Next, add up the total cost of all those things together—and that’s your monthly budget!

Now comes the hard part: sticking to it! In order to stick with it long-term, try not to change anything until after six months (except maybe if something major happens like losing a job). Otherwise these changes might throw off everything else.

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Understand your cash flow

Cash flow is a measure of the cash that comes into (and out of) your business.

It’s not just how much money you make—it’s how much money you have on hand to pay your bills, how much money you can invest back into the company, and how much money you can use to buy new supplies or equipment.

Once you’re looking at your income and expenses, you should also consider how they affect one another. For example, if your business is seasonal (like many small businesses), then you might have more income in the summer than in the winter. If that’s the case, then you’ll have more money coming in during those months—but expenses will be higher too.

It’s important to remember that a business isn’t just about making money; it’s about being able to sustain itself over time. So even if there are months when your expenses are higher than normal, it doesn’t mean that there’s something wrong with your business model or strategy—it just means that you need some extra capital in order to keep things going while things balance themselves out again!

If your business has good cash flow, it means that you’re able to pay all of your bills on time, which means your creditors will be happy with you. If you don’t have enough cash flow, it means that you could be in danger of not being able to pay your bills if something goes wrong—like if an order isn’t filled on time or if sales are down for a period of time.

Cash flow is important because it helps us determine whether our business is healthy and stable enough for us to make decisions about things like whether we should hire additional staff or purchase new equipment or vehicles.

Spend frugally

Frugality is a virtue that can help you get ahead.

It’s hard to make money, but it’s even harder to keep it. There are a lot of people who would love to take your money from you and spend their lives living the high life at your expense. You need to be smart about how you spend your money, or those people will have their way with you.

In order to stay frugal, think about what you’re buying before you buy it. Don’t rush into making purchases or taking out loans unless you’re absolutely sure that doing so is in line with your goals and values.

If there are things that are important to you—like having a nice home or being able to travel—then make sure that those things don’t cut into your ability to save money for other things that are important to you: like retirement or college funds for your children.

Get help from financial advisors and therapists if you need it.

One of the most important things you can do to manage your money is to get help from financial advisors and therapists if you need it.

If you have a mental illness, it can be hard to keep track of all the different things you need to do to take care of yourself. And when you’re dealing with a mental illness and managing money, it’s even more important that you have someone who can help you get out of debt and stay on track with your finances.

Financial advisors are here to help people like us with our money problems. They’ll work with us to set goals for ourselves, and then come up with a plan for how we’re going to reach those goals. They’ll also help us figure out what’s really important in life—and where we should spend our money instead of just spending it because we think we should. Financial advisors can also help us figure out what types of loans or credit cards might be right for us so that we don’t overspend or get into debt while trying to pay off other debts first (which can be tempting when you’re feeling overwhelmed).

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Make sure you have enough money for the basics

Budgeting is a skill that everyone should learn, but if you have a mental illness, it can be especially important to make sure you have enough money to cover your basic needs.

Mental illness is an invisible disability—it’s not like we can just take off our shoes and show someone how much pain we’re in. So when people hear that someone has a mental illness, they tend to imagine them as a financial burden on society. This makes people with mental illness feel ashamed about their condition and often leads them to hide it from others for fear of being judged.

This puts them at higher risk for financial problems than the general population—and the problem is compounded by the fact that people with mental illness often struggle with managing their finances and budgeting effectively. So if you have a mental illness, here are some things you can do to make sure you have enough money for the basics:

– Try using a budgeting app like Mint or YNAB (You Need A Budget). They’ll help you track your spending throughout the month so that you know where all of your money is going.

– If possible, get an extra job or sell something on eBay/Craigslist/etc. This will help supplement your income while also giving.


If you are someone who deals with mental illness, you are not alone. You are faced with unique challenges in daily life, but many of the obstacles to budgeting and saving money face a wider community than that. You have many of the same expenses as most people do: rent or mortgage payments, groceries, utility bills, and so on. Overcoming these common hurdles is as simple as learning from other people’s mistakes and adopting a few good strategies for staying organized and disciplined. These are things everyone can learn from whether they have a mental illness or not.

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