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Emotionally Healthy People Manage Finances Better—Experts

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By Dipo Olowookere

Some experts in the health and finance sectors have opined that those who are emotionally healthy have the tendencies to manage their finances better than those with troubling emotions.

At a recent webinar organised by FBNQuest, the investment banking and asset management business of FBN Holdings Plc, they argued that there is a strong link between emotional wellbeing, personal finance and investing.

They said to overcome financial distress, it was important for an investor to always pay critical attention to emotional health as it has a way of making someone being overwhelmed, anxious and stressed over money.

At the webinar themed Your Emotional Health and Finances, a Consultant Psychiatrist and Forensic Medical Examiner, Dr Olusola Olowookere, submitted that, “Dealing with financial stress can cause anxiety and contribute to existing health issues, which have an impact on emotional wellbeing.

“At the same time, poor emotional health can hinder an individual’s ability to effectively manage their finances, which affects financial wellbeing.”

“People who are emotionally healthy are in control of their thoughts, feelings, and behaviours. They are also able to cope with challenges and have the ability to keep problems in perspective whilst dealing with setbacks,” Dr Olowookere added.

Also speaking, the Head of People and Knowledge Engagement at FBNQuest Merchant Bank, Ms Lolade Sasore, stated that, “The aftermath of the global pandemic has led to an increased sense of anxiety among individuals, families and businesses.”

“We believe that being aware of the correlation between financial and emotional stress might help individuals understand their state of emotional wellbeing and set them on a path to better health and happiness.

“As we observe the return to a different type of normal, we at FBNQuest are committed to facilitating and hosting more of such sessions that will contribute positively and help our collective transition,” she added.

Business Post reports that the event is part of the organisation’s Leading Conversations with FBNQuest Series and was held in partnership with Grey Insights.

FBNQuest launched its Leading Conversations with FBNQuest webinar series in 2020 and it focuses on market, industry, lifestyle, consumer insights and analyses that are crucial for individual and corporate success.

The events feature leading professionals of FBNQuest, as well as other industry experts in corporate and private investment management, wealth preservation, financial advisory and other areas of interest.

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