Mental health has gone awry for many during the pandemic, but these experiences are especially more acute among people who are economically less fortunate. What happened after past recessions is one informative pattern as we consider the potential effects of financial stress long after the pandemic is over, said Brad Klontz, a financial psychologist and cofounder of Your Mental Wealth Advisors and the Financial Psychology Institute. Shortly thereafter, there wasn't much research on the mental health repercussions as "we hadn't really defined trauma or post-traumatic stress as really even an issue," Klontz said. Experiencing some degree of stress during financial crises is normal and denying the situation wouldn't be helpful. So that's where they're hoarding money, they're sticking it aside because they're so afraid," Klontz explained.

Source: CNN August 09, 2021 14:48 UTC