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Will the Potential Recession Harm Individuals' Mental Health?

Approximately 70% of the economic experts believe that there will be a recession by next year. However, we have already seen two consecutive quarters of negative gross domestic product (GDP) during the summer of 2022. What this means is that the country has inflated the value of goods and services that are produced. We all have felt the effects of inflation for a while now.

During a recession there is an increase in mental health issues as there is an increase in job loss and financial difficulties. This leads to anxiety, depression, and an increase in suicides. Therefore, with the loss of income there is the loss of the ability to afford mental health services. After experiencing the pandemic which included a rise in mental health illnesses individuals must now endure a recession. 

To prevent harm to your mental health during the recession individuals can:

  1. Develop healthy coping skills – continue doing activities that you love, journal, exercise, meditate, or find healthy ways to endure your day-to-day situations. 

  2. Remain calm and positive – I know that it is easier said than done but in times of high stress… breathe! I like to use the box breathing method in situations where I need to remind myself to take a minute and breathe. 

  3. Focus on what you can control - Understand what you can control and what you cannot control and only make plans to handle the situations that you can control.

  4. Spend time creating a financial plan – look at your investments and emergency funding, decrease your expenses, and if laid off attempt to secure another position.

  5. If continuing therapy is not feasible, continue to use the methods learned in therapy to get through the recession, look for free helpful tips on sites such as therapists social media pages, and immediately resume sessions when you are able to.

By Chantay Stanley, LCSWA