💸 Money Cheat Sheet: $$ and Your Mental Health

This week’s money mood: $ on my mind

This week is Mental Health Awareness Week, and May is Mental Health Awareness Month. And of course, mental wellness and financial wellness are inextricably linked: In our Financial Wellness Survey last fall, nearly half of women said they believed that financial stress had taken a toll on their mental and emotional health.

Right now, with the news and economy extra heavy, that might be even more true. But so is this: You do not have to have or earn a lot of money to develop a healthy, positive money mindset. And by practicing financial wellness, you can begin to turn at least this one thing from a source of stress into a source of strength.

Also, you’re not alone — we’re here to help (as always!). Check below for resources to help you reduce financial stress and tackle your money mindset — no matter how much time (or money) you have.

Rooting for you,

Deedi Brown, she/her
Senior Editor

PS: Our coaches specialize in helping with the kinds of money mindset challenges women specifically face. Have you met them? Have you seen the list of their all-time favorite workshops and sessions?

A woman using a smartphone, sitting next to houseplants. Shapes of a checklist, cash, and a wallet in the background. Illustration.

15 ways to reduce financial stress

If you’re anxious about money, those feelings can avalanche. But there are a number of (totally doable) things you can do to stem the tide of stress.

START WITH ONE >

A thought bubble of money icons hovers above a person with long dark hair. Illustration.

It is possible to feel good about money

We internalize so many terrible messages about women and money. But it’s possible to identify and unlearn them — and create a healthy money mindset.

HERE’S HOW >

Are you in ~touch~ with your money?

“It all comes back to your budget: understanding what’s coming in, what’s flowing out, and what you’re saving for Future You. Get in touch with your money by asking yourself things like, ‘Am I spending the way I want?’ ‘What are my spending triggers?’ and ‘Is my money serving Future Me?’ Start to observe these things, and you’ll be well on your way to building a strong relationship with your money.”

— Ellevest Financial Planner Victoria Ferguson

Think of money coaching like couples therapy for you and your finances — it’s not just prescriptive, it's preventative. You can explore the sessions our coaches love the most in the Money Coaches’ Edit.

A shopping bag with a hundred dollar bill on its face. Collage.

Take “guilt” out of your financial vocab

That little voice in your head telling you that you’re irresponsible for spending your own money? It’s time to silence it. We have a guide on how, ofc.

TAKE ME THERE >

✏️ Journaling time: Finances and feelings

Money decisions affect everyone’s emotions. But it helps to stay in touch with how those decisions make you feel — your gut can be just as useful as your brain!

Here’s a journaling prompt to help you pay a little closer attention:

1.	What are three money decisions, big or small, from the last year that made you feel really good? Do they still make you feel really good? Why or why not?
2.	What are three money decisions, big or small, from the last year that made you feel bad? Do they still make you feel bad? Why or why not?
3.	Make two columns. In the first column, write down five money habits that make you feel good. In the second column, write down five money habits that make you feel bad?
4.	Alright, now, study the page: What patterns are emerging? What can you actionably change, today, and what can you change over the next few weeks? What will you continue doing?

Download our Financial Wellness Journaling Worksheet for a deeper dive into your relationship with money.

Small $$ win of the week

“Getting back on budget! Feels like owning my $$$ again!”

— Jamie, an Elle Raiser from Kent, WA

Got a sec? Fill out a quick form and tell us about your latest money win so we can celebrate you.

The new$ that caught our eye this week


•	All the 👏 for Dr. Lisa Cook, who was just confirmed as the first Black woman to serve on the Federal Reserve Board.
•	The Marshall Plan for Moms just released their Business Case for Child Care report (turns out child care benefits are key to recruiting, retaining, and advancing women at work) and announced the launch of a National Business Coalition for Child Care.
•	Tangentially related — we have to keep talking about the devastating economic consequences abortion bans will have on people who can get pregnant.
•	A new report is shedding light on “the most unrecognized driver of the racial wealth gap”: entrepreneurial inequality.
•	Our CEO Sallie Krawcheck spoke with CNBC about the steps women might take to start recovering from the effects of the pandemic.

Put your money to work.

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All opinions and views expressed by Ellevest are current as of the date of this writing, for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice.

The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.

Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.

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Ellevest Membership fees are as follows: Ellevest Essential is $1 per month, Ellevest Plus is $5 per month, and Ellevest Executive is $9. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply.

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💸 Money Cheat Sheet: $$ and Your Mental Health

This week’s money mood: $ on my mind

15 ways to reduce financial stress

It is possible to feel good about money

Are you in ~touch~ with your money?

Take “guilt” out of your financial vocab

✏️ Journaling time: Finances and feelings

Small $$ win of the week

The new$ that caught our eye this week

Put your money to work.

This week’s newsletter was brought to you while testing out a new browser extension that helps us shop with our values. Forward it to your friends who support small businesses.

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💸 Money Cheat Sheet: $$ and Your Mental Health

This week’s money mood: $ on my mind

15 ways to reduce financial stress

It *is* possible to feel good about money

Are you in ~touch~ with your money?

Take “guilt” out of your financial vocab

✏️ Journaling time: Finances and feelings

Small $$ win of the week

The new$ that caught our eye this week

Put your money to work.

This week’s newsletter was brought to you while testing out a new browser extension that helps us shop with our values. Forward it to your friends who support small businesses.

Older messages

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It is possible to feel good about money