The Overlooked Connection Between Money and Mental Health 

Nearly 60% of adults say money is their top source of stress, and it’s not hard to see why. Between rising costs, debt, and pressure to plan for the future, finances can feel like a constant mental load. Unfortunately, that stress affects more than your bank account, it impacts sleep, relationships, focus, and overall well-being. 

For women in tech who must balance demanding careers, family responsibilities, and systemic barriers, financial stress can intensify burnout and self-doubt. Just know, you can take back control. Financial literacy isn’t just dollars and cents; it’s confidence, security, and peace of mind. When you understand your money, you gain the freedom to make choices that support your goals and protect your mental health. 

Let’s explore the benefits of financial literacy, how it can strengthen your well-being, and the steps to start building confidence today.  

What Is Financial Literacy (and Why It Matters More Than You Think) 

Financial literacy is the ability to understand and manage your money effectively: think budgeting, saving, investing, and managing debt. It gives you the tools to make informed choices about your finances and the confidence to plan for the future. 

Financial literacy isn’t about being rich. It’s about being secure, informed, and in control. When you understand how money works, you can make decisions that align with your goals instead of reacting to stress or uncertainty. Financial literacy builds: 

• Empowerment and confidence to make decisions with clarity. 
• Improved money management through budgeting and tracking habits. 
• Goal achievement and long-term planning for milestones like buying a home or retiring comfortably. 
• Protection from financial scams that prey on confusion or fear. 
• Resilience during uncertainty, helping you stay steady when life throws a curveball. 

As AnitaB.org COO Pamela Lee, affectionately known to our team as P$, says, “Whoever said money doesn’t buy happiness wants to keep you poor!” Financial stability and confidence can bring peace of mind and that’s priceless. 

The Mental Health Benefits of Financial Literacy 

Reduces Financial and Mental Stress 

Budgeting, saving, and managing debt can significantly lower anxiety. Financial literacy, self-control, and mental budgeting (mentally tracking and categorizing expenses) improve overall financial well-being. Financial stress can worsen anxiety and depression, while mental health challenges can lead to poor financial decisions, creating a vicious cycle. Financial literacy helps break this loop, supporting both financial and emotional health. 

Money is a top stressor for many Americans: 66% cite finances as a significant stressor (APA Stress in America 2022), and 29% report “unmanageable” debt (Financial Health Pulse 2023). Keeping debt in check and building savings frees mental space and promotes peace of mind. 

Empowers Better Decision-Making  

Financial literacy gives you the knowledge to make confident choices about housing, retirement, and investments. With clear understanding, you spend less time second-guessing yourself and more time focusing on goals that matter. 

Research supports this link: PISA results show that students with stronger financial literacy skills behave more responsibly, plan ahead, and act proactively (Hello, financial resilience! Being able to react calmly to financial curveballs rocks.). High performers are 72% more likely to save money and 50% more likely to compare prices before purchasing. These habits translate into greater confidence and control in adult financial decisions. 

Promotes Long-Term Security and Peace of Mind 

Planning for the future and understanding your financial options fosters calm and confidence. Knowing you’re on track to achieve your goals provides a sense of security that supports overall well-being. 

Research shows that long-term financial strain can have lasting impacts on mental and physical health. Individuals with stronger financial literacy are better equipped to manage stress, reduce vulnerability, and build stability that benefits them across their lifespan (Choi, 2009; Adams et al., 2016; Kahn & Pearlin, 2006). 

How to Start Building Financial Literacy (Even If You’re Starting from Scratch) 

Step 1: Know Your Numbers 

Start by understanding what you have, what you owe, and which assets are liquid versus non-liquid. Liquid assets are things you can quickly access, like cash in a checking account, while non-liquid assets like a retirement account or property take time to convert to cash. Knowing these basics gives you a clear picture of your starting point. 

Step 2: Build a Budget That Reflects Your Goals 

Track your expenses, set realistic saving targets, and automate payments when possible. It doesn’t need to be perfect; you just need to create a plan that works for you to free mental space and reduce financial stress. 

Step 3: Find the Right Partners 

Choose a bank, credit union, or financial advisor you trust. Look for institutions that are transparent, inclusive, and aligned with your values. A supportive financial partner can help guide decisions and keep you accountable. 

Step 4: Educate Yourself Continuously 

Financial literacy grows over time. Use free or low-cost resources like online courses, podcasts, and webinars to build your knowledge. For women in tech, attending Grace Hopper Celebration sessions on financial wellness and mental health is a great way to learn while connecting with peers who share your goals. 

Step 5: Start Small, Stay Consistent 

Celebrate every financial win, no matter the size. Even small steps like setting aside $50 for an emergency fund build momentum and contribute to emotional stability. Consistency over time is what turns knowledge into confidence. 

The Bigger Picture: Why Financial Wellness Fuels Innovation 

Financial wellness is both a personal goal and a professional advantage. Empowered, financially secure women are better positioned to lead, innovate, and support others in their teams and communities. 

When your finances are under control, you have the mental bandwidth to focus on what matters: creating solutions, driving projects forward, and tackling complex challenges with clarity and confidence. 

At its core, financial wellness is professional wellness. Building a stable foundation allows women in tech to thrive, not just survive, and to make the impact they were meant to make. 

Call to Action: Take the First Step Today 

You deserve financial peace of mind, and the best part is that you can start today. Taking control of your finances doesn’t require perfection; it just requires a first step. Take it further by joining us at Grace Hopper Celebration, where sessions on mental health, financial wellness, and leadership provide practical tools and strategies to help you thrive. 

And don’t forget to explore AnitaB.org Membership, designed to support women in tech as they build skills, grow in leadership, and navigate the path to financial and professional empowerment. Every step you take toward financial literacy is a step toward mental clarity, resilience, and long-term success. Start today! You’ve got this.