Financial Stress and Anxiety - Part 1

Ever wondered how financial stress shapes your mental and physical health? We promise you'll walk away with actionable strategies to tackle financial anxiety head-on. In this episode of the Motor City Hypnotist Podcast, we highlight the often-overlooked connection between financial well-being and emotional health. Reflecting on personal stories—like the college credit card fiasco that spiraled into anxiety and depression—we underscore the importance of financial literacy and mindful money management. We also take a brief detour to savor an old-fashioned cocktail from The Vault on First, recount the whirlwind of recent graduation shows, and give a nod to the upcoming fair season.

Join us as we break down how financial worries can haunt our daily lives and relationships. Inspired by the animated portrayal of anxiety in Inside Out 2, we delve into how these stressors manifest and impact couples differently based on individual perspectives. Whether you're grappling with debt or striving for a healthier financial outlook, our discussion is packed with insights on maintaining a balanced approach to wealth and setting realistic financial goals. We also drop hints about upcoming strategies to alleviate financial stress and promote overall well-being, making this episode a must-listen for anyone seeking peace of mind and financial stability. Don’t miss out on these valuable tips that could make a world of difference in your life!

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Change your thinking, change your life!
Laugh hard, run fast, be kind.
David R. Wright MA, LPC, CHT
The Motor City Hypnotist

Transcript

David Wright: 0:00

In this episode of the Motor City Hypnotist Podcast, we're going to talk about stress and anxiety specifically related to financial issues. This is a big issue. I see with a lot of clients. I see that their stress and anxiety is linked to money and finances and being able to survive, quote unquote. It really is a big, big stressor for a lot of people. How timely is this?

Matt Fox: 0:26

This is very timely.

David Wright: 0:28

Absolutely timely and, as usual, we're giving away free stuff. Hang in there, folks, we'll be right back.

Announcer: 0:36

Get ready for the Motor City hypnotist, David R Wright. Originating from the suburbs of Detroit, michigan, he has hypnotized thousands of people from all over the United States. David R Wright has been featured on news outlets all across the country and is the clinical director of an outpatient mental health and hypnosis clinic located just south of Detroit, where he helps people daily using the power of hypnosis. Welcome the motor city hypnotist, david r wright what is going on, my friends?

David Wright: 1:25

It is David Wright, the Motor City Hypnotist, and we're back with another episode of the Motor City Hypnotist podcast. Yeah, you are. It has been a while. Matt Fox that's the other voice you hear.

Matt Fox: 1:35

Lots of things have changed over the past couple of months, last month and a half.

David Wright: 1:38

So let me catch everybody up and the famous words of George Costanza I'm back, baby, I'm back. So we haven't been on for about a month and a half and that's due to grad. Season was in full bloom over the past month or so, which means I was out almost every night in the middle of the night doing these graduation shows. Did you sleep here and there when I could? Okay, cause most of the time these these all night grad parties. I will say it's gotten better, because six, seven years ago they used to keep kids all night long till like 6 am and I would come on at 5 am be the last thing of the night. Now most schools in fact none of my shows this year went all night. Most of them ended right around three ish.

Announcer: 2:24

Oh, 3.00 AM.

David Wright: 2:26

Yeah, but again, they used to keep them all night. So now the latest, my latest show this season has been 2.00 AM, 2.00 to 3.00 AM. So that's not bad so overall, but but yeah, uh it just it really messed up my schedule as far as, like, my, my typical things and uh, and then I was out of town for a week as well. So we're back, we're back, we're back on track Again. Typically we record every Monday evening at 8-ish. We're a little later tonight. That's okay, because we did a man Cave Happy Hour where we shared a bottle of. You got to move the label down.

Announcer: 3:02

Oh yeah.

David Wright: 3:03

That's right, Gold metal. This is, it's old-fashioned in a bottle. It's old-fashioned in a bottle. Well there, Okay. So this is from the Vault on First in Wyandotte. It's a restaurant my wife and I frequent often and this is what I get every time I go in, Because the first time I went there I said do you guys make an old-fashioned? And she goes we have a version of an old-fashioned you may like, and I loved it. So we had Josh in on man Cave Happy Hour and Josh he's the bartender at the Vault on First, the head bartender.

Matt Fox: 3:31

Head bartender.

David Wright: 3:33

Brought in a bottle. We all tasted it, loved it.

Matt Fox: 3:40

So yeah, we're still enjoying that. He brought in a fifth.

David Wright: 3:43

He brought in a fifth and the man cave killed the fifth. We killed the fifth and we have another pint open. Matt and I have a pint open.

Matt Fox: 3:49

But we actually what Josh did was really cool. The the fifth that he brought in is without the bitters. Without the bitters, so it's four bit, it's four dashes of each bitter the orange and the Angostura regular, and, and then with the orange peel, and then you just pour in the old-fashioned yes, the pint that's here actually has the bitters in it already. Yes, which is kind of cool. Yeah.

David Wright: 4:09

And really you just shake it up a little bit, just to mix it up and pour it and you are ready to roll and it is honestly, this is one of my favorite drinks. I can see why that I've had recently.

Matt Fox: 4:20

I should say I can taste. Why I should recently? I can taste why? Yes, absolutely so. Thank you for that.

David Wright: 4:23

Yep, absolutely so. Again, we've been off for a while, but we are back now on normal schedule. So, again, those of you who've been looking for episodes, that's why and typically, let's just say for future reference we're doing this podcast a year from now, From the middle of May till probably no, probably beginning of May till the middle of June we're going to have a break.

Announcer: 4:45

All right, just as a heads up, I'll plan ahead.

David Wright: 4:47

Yeah, you'll plan ahead. So it's a year from now. So let me tell you, folks, where you can find me. My website is MotorCityHypnotistcom. Check it out. All the information is there. We're coming up on fair season, which is in summertime, and I Coming up on fair season, which is in the summertime, and I've done a lot of fairs in the past.

David Wright: 5:08

So if you're a fair director or one of the people on the committees for a fair and you want a hypnotist at your fair, I've done everything from Algamont County Fair to Troy County in Pennsylvania, to the Tennessee State Fair, to the there's so many, I can't name them all, but you know, if you want a hypnotist at your fair to appear for four or five days, check out my website. I can get you a quote within minutes. You don't even have to call, you can do it right online. Yeah, and yeah, we'll be ready to roll. My schedule right now is not set for fairs, but I will catch everybody up with that, especially with something local that you guys can get. Or maybe you're listening to me in Pennsylvania. I may be out there, who knows, who knows? It's hard to say right now. There's a county fair just about everywhere. Absolutely.

David Wright: 5:54

My social media links Facebook and YouTube are both Motor City Hypnotist and Snapchat and Instagram are both Motor City Hypno. That is H-Y-P-N-O. And, as usual, every episode we do, we give away a free hypnosis guide Text the word HYPNOSIS, to 313-800-8510. And just as a heads up, because I've been doing tons of shows over the past month and a half, probably a total of, I'm going to say, 30 to 35 shows in the past month and a half. That's a lot. We've done a lot. So when you get this free hypnosis guide, you get a link to download it. But it's also going to ask you to do a review of my show, which, in this case, you haven't seen my show in person. But if you're listening to the podcast, consider that the show you can still leave a review and mention the podcast in the review. I like that. The link for the Google review is right in the link you get to download your, your PDF.

David Wright: 6:48

Can I ask you a question? Yes, during your shows do you talk about the podcast? Absolutely Good, yep, yep. I push the podcast on every show and I say hey, if you, if you want to listen to a mental health podcast, it's not all hypnosis, we do hit on hypnosis here and there, but a lot of it is mental health, because I am a licensed therapist as well. Sure, and hopefully that's information that people will look for and be able to benefit from. I did not know you did that. I'm glad I asked. Yep, absolutely, I do that. So the big thing, wherever you're listening, if you're on Facebook Live, thanks for joining us. We do that live on my Facebook Motor City Hypnotist Facebook page uh, streams live every monday when we record typically from eight to nine tonight's, probably 8, 30 to 9 30, but no big deal whatever. Whatever, you can join us live, be a part of the show, ask questions, uh, make comments, whatever. Just join in and and be a part of the show.

David Wright: 7:37

We'll be nice, I promise and the big thing is wherever you're listening. If you're listening to the audio, the actual podcast audio, whether it, whether it's iTunes, stitcher, spotify, whatever there are millions of them Wherever it is, link, subscribe, connect, whatever it is on your platform. And the big thing is leave a review. That's the most important thing, because we want more people to listen and if they have good reviews, it attracts more people. I love it All righty Cool, is it? It's time we haven't done this in a while, man, I know right.

Announcer: 8:15

That's how winning is done.

David Wright: 8:17

Okay, yes, it is. So. You know, and I've made this comment before, or I've said this before and you're in agreement with me we love the winner of the week, love animal stories as well. This combines both of those things, which which is one of some of our favorite stories. Okay, so let me, let me read the story and, and it really is amazing, once I get to the end, you'll you'll get it. Is there a headline? I don't want to read the headline. I just want to get to the story because I don't want to spoil.

David Wright: 8:46

Most headlines spoil the story. You're right, spoilers. So what started out as a nice weekend fishing trip turned into a massive rescue operation for two colleagues at State Farm Insurance for a pack of hunting dogs that almost drowned in a Mississippi lake. Jesus, okay, that's the first paragraph. That's a lot to take in. Yeah, exactly, and as we get through this, you'll understand a little bit more. Bob Gist, 61, and his friend had hired a local bass fishing guy named Jordan Crestman to take them out on Grenada Lake. That's their first mistake. Just kidding Hiring Crestman to take them out on Grenada Lake. That's their first mistake. Hiring Crestman Cut it out Crestman and after a morning without much action, they decided to change spots. That's when they heard barking, barking. They're on a lake, they're on the water, they're on a lake.

Matt Fox: 9:43

They hear barking. God, the fish are really barking this morning. What the heck.

David Wright: 9:48

Casting their lines. The pair, along with Giff's best friend Brad Carlisle, deduced that some hounds had chased a deer into the lake which was paddling along at a good clip. So the deer was paddling along. Yeah, the deer ran into the lake. The dogs chased the deer into the lake. Go on. The dogs were unable to keep pace with the deer, so the deer was swimming faster than the dogs Stroke.

Announcer: 10:15

Stroke.

David Wright: 10:20

Stroke. Eventually, Crestman cut it out. Crestman noticed that the dogs were still there, treading water and barking Okay, go on. And Crestman asked Gist if he could take time out of the fishing trip to investigate. When their bass boat arrived on the scene, it was pandemonium 38 dogs were struggling to stay afloat. What the fuck? Yes, 38 dogs, Holy crap, Are in this lake now. Okay, so what kind of dogs were?

Matt Fox: 10:53

they, well, they're hunting dogs, I don't know, I don't know the. I want to say, like beagles, maybe hounds and labradors yeah, hounds, okay, borrow, just paddle them and just yeah, paddling and barking, god bless 38 dogs.

David Wright: 11:09

We were just flabbergasted because it's dogs everywhere and they're all going in different directions, because they can no longer see the bank on either side. That bitch Cruella DeVille, I know, I know, go on. The three men knew for sure they were hunting dogs because they had large GPS collars on. Oh, my goodness so where are the?

Matt Fox: 11:27

Okay? Go on, Okay.

David Wright: 11:29

So now technology is starting to come up with GPS on the collars, which provided a good grip for hauling the soaking wet dogs out of the lake and onto the boat. Okay, they needed to make three trips to get them all, bringing the first haul of a dozen hounds to the shore, where their anxious owners rejoiced in relief. Traumatized by the event, the dogs were afraid to disembark, believing everything beyond the confines of the boat was still water. I mean, makes sense it does. In the end, none of the dogs drowned. 38 dogs survived. 38 dogs.

Matt Fox: 12:08

That's absolutely crazy, isn't it crazy? They okay, so you're on. You're on the water and you start to hear howling and barking yes and you pull, and you roll up onto it and there are 38 dogs treading water, all in different directions, all in different directions, and the gps signals are going in every single different way. And the owners of these dogs are looking at this on their computer, knowing they're in the water. What were the owners doing? Did they call in?

David Wright: 12:33

See, here's the thing that we talk about this a lot, matt. We read these stories and we're like we have so many more questions. I want some details.

David Wright: 12:40

They really do, yeah, yeah uh, so let me continue on the story. The hero here is jordan, just told abc news, noting that the guide had recognized the danger and sped the boat over to the location of the dogs. If it wasn't for jordan, there would have been 38 dead dogs. Honestly, if brad and I had been there in a boat by ourselves, we wouldn't have known anything was wrong. But that 20 something year old kid and I'm 61, so I'm calling him a kid he knew something needed to be done. Just said, similarly this time to a to fox news so they didn't catch any fish, but they caught a lot of dogs. They caught a lot of dogs not with their poles, with their hands. Well, yeah, yeah. And the collars and the g GPS collars, man. But the thing that it's a great story if it were one dog, yes, but it's 38 dogs and every single one survived.

Matt Fox: 13:37

Jesus I just 38 dogs. How big was the damn deer they were chasing?

David Wright: 13:43

Great Odin's raven. It's just, it's almost mind-blowing, like like 38 dogs.

Matt Fox: 13:51

It's like lemmings One follows one into the water, the next, and the next, and the next.

David Wright: 13:55

What happened, jesus? Yeah, it's crazy.

Announcer: 13:57

This is a mess.

Matt Fox: 13:59

Alright well, I'm very happy that no dogs went to heaven on this one Right, absolutely.

David Wright: 14:05

But gee, 38,. You know dogs, yeah, 38 hunting dogs. Can you imagine Just treading water?

Matt Fox: 14:11

Yeah Well, anyone can hear 38 dogs howling in the water. You would think I mean, yeah, that shit echoes. I would think so On the water yeah.

David Wright: 14:23

But the thing is, when you're on the water and you're away from banks, directions are hard to determine. Well, they're going in so many different directions. Yeah, and it's all. That sound is just, you know, it just echoes out into nowhere. Never did we hear about humankind again. That's crazy. Yeah, it is crazy. That's wild. I like that. Yeah, great story and definitely winner of the week. Thank you.

Announcer: 14:52

That's how winning is done. Yes, yes, it is, it's crazy, especially for 38 dogs.

David Wright: 14:59

So back to it. All right, folks. So today we're talking about so we cover a lot of of specific or maybe even non-specific topics on the show. A lot of it. We've talked about stress, we've talked about anxiety, and a lot of times stress and anxiety get linked to specific things.

Matt Fox: 15:18

That's true, and one of the biggest things as far as my own practice, and then even outside of my own practice- Before you say what you're about to say yes, this past weekend, yes, holly and I we actually went and took the kids. Yeah, and we saw the movie Inside Out 2. Okay, and the character was introduced to new emotions, if you will.

David Wright: 15:41

Was the new emotion. One of the new emotions anxiety it was. Oh, see that Spoilers.

Matt Fox: 15:46

Okay.

David Wright: 15:49

Well, no, no, I'm wondering how they did it, or? How they worked because, I think it's a great insight on emotions in those movies.

Matt Fox: 15:53

It was done so well to share and show children. Yeah, you know how, how, the inside, how our, insides our brains right so well done and, yes, anxiety was one of the emotions characters introduced, and they did such a nice job of showing you exactly what's actually maybe happening inside your head and in your body at that time. It was very well done.

David Wright: 16:22

So, and here's the thing that I say, and we're going to get into the specifics of our topic here but the biggest thing is, when I talk to clients, whether they're experiencing depression or anxiety or anger, it all comes from something else. Those things don't exist in a vacuum. They're prompted by other issues and and this may stem from childhood, it may stem from experiences, but a lot of times when people experience anxiety, it's it's a state of fear, it's a state of I don't know what's going to happen. I don't like this you become?

Matt Fox: 17:01

you become frozen, yes, and the fact that you don't know what to do.

David Wright: 17:05

Exactly, and a lot of anxiety is. I'm going to try to put it simplistically. It's worry over things you can't control, Like fear of death, fear of failure, fear of money, fear of not having enough money. And we're going to get into that. Fear of, you know not, fear of money, fear of not having enough money, and we're going to get into that.

Matt Fox: 17:30

Fear of performance.

David Wright: 17:32

Yeah, absolutely.

Matt Fox: 17:33

It's a fear, it's a phobia of multiple things, and anxiety is always a part of that, yeah, exactly.

David Wright: 17:39

And as I've said before, if you've listened to our prior episodes on, specifically on anxiety, itselfxiety is a required emotion, and when I say that, here's what I mean by that. You cannot survive without some level of anxiety that keeps you safe. For example, if I were going to cross a six lane highway, I'm going to be anxious because it keeps me safe.

Matt Fox: 18:06

You're going to be more in tune to your surroundings, right, and that's what anxiety.

David Wright: 18:09

That's right, and that's anxious, yes, and, and that's what makes you anxious, and and so so some level of anxiety you need for your protection and for your survival. However, when it becomes overwhelming and you can't control it, then it becomes detrimental to your emotional health, your physiological health and just how you feel, and relationships too.

Matt Fox: 18:32

How you deal with that situation presented Absolutely.

David Wright: 18:37

So one of the biggest stressors that I get when I have clients come into my office especially if it's couples counseling and I'm making that statement specifically is that money worries, financial worries that's hot off the press. Yes, absolutely Every single day, yep. So really, the connection between financial well-being is Well, between money and mental well-being is undeniable. There's a connection there between money and mental well-being.

Matt Fox: 19:10

Financial well-being. That is a terminology that folks use a lot. What is financial well-being? Do you have six months of your monthly expenses in a savings account, or is it that you have so much money that you're going to be able to leave a legacy for your family? There's financial wellbeing is very broad, no it is.

David Wright: 19:29

It is a very broad statement and the reason that's broad is because that's different for every person right there. There are some people and I have. I have clients that have a productive, happy life and they make $35,000 a year. That's so. That's below poverty, but no, no, it is, and that's the point I'm making. I have other clients who make $150,000 a year and they're struggling and they're struggling. So it's not necessarily the amount and we'll get into the specifics as we go on, but it's being okay with the amount you make and that's difficult for a lot of people.

Matt Fox: 20:12

I'm going to. You got your person that makes $35,000 a year. You got your person that makes $125,000, $150,000 a year. There's a lifestyle and they've become accustomed to a lifestyle. This person that makes 35 000. They've learned how to budget themselves and what they're hopefully and what their means are sure right.

Matt Fox: 20:35

Right, because they're happy and they're productive and they're and they're doing what they want to do. They go to work like they don't have to. You got this person at 150. They've been accustomed to a lifestyle where they've been able to get anything and everything they want and all of a sudden, they've now lived beyond those means.

David Wright: 20:53

Well, that, or there's always this constant fear of, if something happens, I'm screwed Right. That's the other thing that comes into play in your mindset. How am I going to maintain?

Matt Fox: 21:05

Yes. How am I going in your mindset, how am I going to maintain yes, how am I going to keep this, how am I?

David Wright: 21:08

going to keep what I have. And that's the whole psychological trap with this is that people, once you have something, you don't want to give it up. People who don't have anything don't have that issue. And this is not a criticism, and I say this with all respect that and I may have even mentioned it on the show before people who don't know any better don't have stress and anxiety. That's fair. They just don't. And I go back to a book. Um, I may have asked you this on the show before, but, uh, go on the book flowers for algernon.

Announcer: 21:51

You have okay, okay, okay I thought I mentioned it.

David Wright: 21:54

I'll run really quick. The book is about a mouse who they they do testing on. Scientists do testing they make. They make the mouse super intelligent yes, this is just a few episodes back. Oh, okay, good. And then they do the same thing to a man who has developmental disabilities. He was happy until he got smart. Right Now, he understood too much and it made him really unhappy. It made him really unhappy and then it ended up the whole story story. Spoiler alert the book came out in the 70s, so if you haven't, read it.

David Wright: 22:27

Whatever spoiler, but uh, he ends up, the treatment ends up not lasting right, and he goes back into his to the, to the development and disabled state and becomes much happier at his own request. I don't think it was his request, it was just. It was just. It's just the way the story. Yeah, yeah, it's the way the story went that that the treatment didn't last, it was a temporary fix, but I put that in the state, put that in the context of financial issues. People who don't make a lot of money, yeah, sure, they have worries, they have wishes, they have things that they would like to do, but people make a ton of money, kind of take it for granted in a way, especially if you're you're in a higher income tax bracket, like, yeah, I'm gonna say over a hundred thousand, okay, you know.

Matt Fox: 23:17

Um no, there's, there's always, there's always been a stress when it comes to monetary, when it comes to absolutely there's always been a level of stress for going all the way, very all the way back in history. Money has always been top of mind.

David Wright: 23:32

Yeah, because it, because everyone think it takes money to do things well, and studies have shown that, that individuals or couples or families struggling with debt are much more likely to have mental health issues.

Matt Fox: 23:44

Money is the cause for so many problems in a lot of people's lives whether it be death. You know, someone commits suicide over money because they don't see any way out. Or you know end of a marriage, or you know bankruptcy. There's so many, there's so much to be said for what we're going to talk about today with this whole financial Right. Call it a problem. Everyone's living beyond their means. Yeah absolutely.

Matt Fox: 24:13

There's a lot of things out there. There are a lot of resources out there. There are, but we don't know enough about those resources.

David Wright: 24:19

Well, and we'll get to this in a minute, but you and I are on the same page as this. Matt and I could get on a soapbox and talk about financial literacy for children and teenagers and high schoolers. It's my passion I know, it's my passion.

David Wright: 24:32

So really, and you think about it money-related stress can cause all kinds of mental health issues sleep patterns, relationships, physical health. It's constant worry about managing debt and how am I going to pay this and where am? How am I going to do this? And it can. It can cause so much damage in real. Like I said, in relationships, especially if you're married, that's a. The biggest issue when I work with married couples is money by far 100.

Matt Fox: 25:02

Believe you, 100. Believe you a hundred percent. Yep, what did you want? Why did you spend 20 bucks on said gadget, right? Well, cause I wanted it for this, yeah.

David Wright: 25:12

Yeah, I mean it, it it's, it's a lot. I mean even credit card debt and and just spending for the sake of spending and and and I'm not saying that. I know there's a psychological response to getting something you want. It makes you feel good, but that feeling doesn't stay. It quickly wears off and then you're on to the next thing, the repercussions of 24.99% APR. Absolutely.

Announcer: 25:41

Or 28.99 or 35.99.

David Wright: 25:48

Here's the thing, and and I'm not we're not going to reinvent the the wheel here or history, but credit cards exist for a reason. Now I'm talking as a therapist, not as a financial advisor, but credit cards are there for emergencies for the most part, as an educator.

David Wright: 26:10

Short term purchase yes, I'm buying it now, to pay for it in 45 days yes, exactly and and unless you have a and again, there are exceptions, some some exceptions, like, for example, for example I'll use a personal example I have an American Express. It's connected to my Delta account, so I get SkyMiles.

David Wright: 26:30

Sure, you got rewards. I will use my American Express for groceries, for daily expenses, groceries, restaurants and things like that and then at the end of the month I pay it off and you get miles, and I get miles for all those purchases. Right, but here's the key thing I pay it off every month Because you don't want to pay interest. Exactly that's the point. So there is a way you can work that that is beneficial to you, but most people don't do that.

Matt Fox: 27:01

But when you have a limit that's above what you can repay 100%, you go and rack up a $4,000 or $5,000.

David Wright: 27:11

So, for example and I'm not getting into my personal financial details, but I think the limit on my American Express is like $20,000. It is what it is, but the point is I've never even ever been close to that.

Matt Fox: 27:24

That's the whole point, because you're living and spending within your means.

David Wright: 27:27

Well, and that's the key and we're going to get into when we look at actions and things that we can put into place. That's going to come up for sure. So here it is, and we touched on this a minute ago, matt. Economic well-being isn't about the amount of money you make. It encompasses a broader understanding of your relationship with money and how you spend it and how you value it, how it makes you feel Right. So included with that is the ability to manage your finances effectively, make realistic goals, maintain a healthy perspective on wealth. It's a mindset. And if you don't have that, college, I got a couple of credit cards. You maxed them out. I maxed them out immediately with stuff I didn't even need, like I think I got a radar detector, I think I got a you know, stuff.

David Wright: 28:29

That's just like. You know, back in the day it was just silly and it was stupid. And of course later on in life, you know, after I was in college, and I'm like like I don't have a pot to piss in here.

Matt Fox: 28:43

Those things strike home and there's a reason why there was legislation passed so credit card companies cannot go on campus and solicit students for credit cards.

David Wright: 28:55

Right, because that's what they would do, because those are the poorest people that there are, typically because you're in college, you're paying for education, oh, but they're building credit.

David Wright: 29:06

and they're no, no, no, no, no, no, no, take a step back and in fact, thank God, I didn't have a credit card during college because there were times I'm not kidding Matt and people can relate to this there were times I would be in my dorm, like at 11 at night and be like I'm super hungry. Oh yeah, Can I scrounge up 50 cents to go to the vending machine? And I would go through my drawer and look for a couple of quarters. I mean, but that's I, I, that's that's scraping the bottom of the barrel. It is, and I'm not saying that as a way to garner sympathy. I'm just saying that this is what happens sometimes. But you have to work through those things because you're working towards a future where you have more potential for financial freedom, right, because that's what you're in school for.

Matt Fox: 29:55

You're going to school to educate yourself on what you're going to do for the rest of your life maybe all right well, it depends maybe.

David Wright: 30:03

I mean, if that's what you want to do, that's what you want to do.

Matt Fox: 30:06

But things change, things happen. But you have to be smart. You have to be intelligent about what you are actually bringing in on a monthly basis and what you can actually spend money on. Yep, absolutely. And if you have a credit limit of $500 and if you don't have a job to pay back that $500 that you spend, you're going to be in trouble and you're going to cause yourself anxiety while you're trying to study for what you want to do for the rest of your life. It's, it's a catch-22. Yeah, it is.

David Wright: 30:39

And that's why, so psychologically and mental health-wise, it's so difficult, because you feel trapped at times. You just don't know what to do. So here's some common mental health issues that get triggered by financial stress. The biggest one is depression. Depression is the biggest one. It's a common response to financial difficulties. You feel feelings of hopelessness and stress and you lose your interest in daily activities. And, plus, because it's financially related, you don't have an opportunity to say well, I'm just going to go see a movie, or I'm just going to go out to dinner, or I'm going to do whatever it is. Or I'm just going to go out to dinner or I'm going to do whatever it is.

David Wright: 31:24

The problem is you've locked yourself into this state that you can't address. The other thing that happens, of course, is anxiety disorders, worry, worry about money, how you're going to survive, how you're going to make your house and car payment, how you're going to get food on the table. All of these things come together. So depression and anxiety are the biggest ones. Insomnia goes along with that. It gets attached to anxiety. I couldn't tell you how. I mean. We can all probably say this who's laid in bed at night and just not been able to sleep worrying about money. My hand's been up.

Matt Fox: 31:58

Absolutely, mine too yeah.

David Wright: 32:00

Absolutely, and that's a problem. And also, and again, if you take anxiety further, you end up with panic attacks. There are a lot of mental issues that come up with financial stress, but there are ways to combat that stress. Absolutely.

Matt Fox: 32:19

It could be three o'clock in the morning and you're up. You have an insomnia because you're just not sure what you're going to do in two weeks. Or you're not sure what you're going to do because you might be looking for a job. You might be without a job, right, and you've built up some debt. How am I going?

David Wright: 32:36

to pay this? How am I going to pay this? How am I going to pay this off?

Matt Fox: 32:38

That's keeping you up there. There are so many angles that you can take on this.

David Wright: 32:42

Yep, absolutely so. So it's. And again, in extreme situations, financial stress can also cause a form of PTSD. It's like if you've had past financial traumas you're always worried that it's going to happen again. And that prevents it, just locks you up. It locks you from taking action.

David Wright: 33:03

And here's the typical reaction when you get into financial issues is that all of a sudden, you want to cut back everything, everything. Okay, I'm gonna cut off cable, I'm gonna cut off my phone, I'm gonna cut off this, I'm gonna do that. And then you do all those things, but it doesn't even make a dent in in the financial responsibility you have to give right, and and that and that also is is can be well frustrating, because you think I've done all these things, I'm still not ahead, right, but but that happens. So here's what we're going to do, folks. I know we're close on ending this episode, but we're going to continue on. We're going to do part two of financial issues and stress and anxiety as far as mental health goes, and I'm going to give you some specific things that you can do on next episode as far as addressing a lot of these. And again, we're going to cover some other areas as far as the cycle of financial stress and how it happens.

Matt Fox: 34:02

I know we've digressed quite a bit but we'll continue to digress.

David Wright: 34:06

No, no, no, We'll cover what we need to. So, yeah, join us. Those of you on Facebook Live, stick around. We're going to record another session just in a couple of moments. Those of you listening to the audio, jump ahead an episode. If it's not there yet, it will drop on tuesday or thursday and you know what? Unfortunately, matt, I don't have a, I don't have a dog for us today. I went to detroit dog rescue. Their website was down. I couldn't pull up, I couldn't look at dogs today.

Matt Fox: 34:33

Do you know why? No, because they have many. They're revamping their website.

David Wright: 34:38

Are they really? I don't know, I'm just making this up. Okay, I thought you maybe had some inside information there.

Matt Fox: 34:43

No, they're making there. I'm making this up, but I think they have so many dogs at the revamping their website to get them all Maybe.

David Wright: 34:49

Yeah, maybe so today. So we will come back with our, with our. We'd love dogs, we love animals. We'll come back and give you some dogs and eat homes. Love it All right, folks? Change your thinking, change your life. Laugh hard, run fast, be kind. We'll see you next time I'm out.