How improving your sleep can help your finances
The new world we live in can be scary, uncertain & stressful. When you are supporting a family in the new financial crisis, it is common to experience negative emotional states such as stress, anxiety, and depression. The link between mental health and sleep is widely reported, when we are in any of these states, your sleep is likely to suffer.
Not only is your sleep quality likely to decrease, but also your children’s. You have emotion contagion to blame for this one. Emotion contagion, is when you “catch” or absorb the emotions your loved ones are experiencing. For example, if your child or other half is in a terrible mood, you will notice that your mood mirrors theirs. It makes logical sense but it is actually reported scientifically as well.
Equally if you as your child’s parent are feeling wound up and struggling to relax/wind down, then your children are likely to struggle to do the same. Emotion contagion can be one contributing factor as to why your child finds it difficult to fall or stay asleep. Of course this is totally normal, however there are steps you can take to lessen the intensity of your negative emotions.
It may seem obvious that financial stress can impact your sleep. However, the relationship with money and sleep is twofold. Did you know that your sleep quality or lack of sleep can negatively impact your finances?
The reason for this is because prolonged or severe sleep deprivation has a significant impact on brain functioning. For example, you are more likely to make poor financial decisions, partake in risk taking behaviour, and think and behave irrationally.
Late night purchases to make you feel “happy” or distracted from the stress of sleep deprivation, parenting and/or the financial crisis we are in may seem like a good idea at the time. But are they resolving your sleep challenges, your stress, or financial pressures? Are they really getting you closer to what you really need?
On the flip side, good quality sleep results in optimum brain functioning for both you and your children. Regular good nights of sleep lead to boosting your happiness, feeling calmer, thinking rationally and therefore making logical and informed financial (and general) decisions.
As you can see the connection between your sleep and financial behaviour is closely related. Once sleep deprived, it becomes a vicious cycle, the more stressed or out of control you feel about your finances, the more sleep deprived you become. And the less sleep you have, the poorer (financial) decisions you are likely to make.
Now more than ever is the time to improve and invest in your sleep, not just for yours and your children’s wellbeing but the sake of surviving and thriving during this financial crisis.
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