What is Blue Monday?
What began as a theme of a marketing campaign several years ago, the third Monday in January has become known as Blue Monday. For Canadians, there are lots of things that can make Blue Monday challenging:
- There’s less daylight
- Winter can feel long and cold and warmer weather a long way off
- Holiday bills may be coming due
- Some people may be struggling to keep up their New Year’s resolutions
According to the Canadian Association for Mental Health, for people prone to seasonal affective disorder (SAD), depression or other mental health issues, this time of year can bring a lack of energy and concentration, fatigue and weight gain.
However, it’s important to know if you’re feeling these symptoms, there are things you can do to help.
Take care of yourself
Here are some strategies to manage your health and mental health:
- Know your strengths and limitations and don’t beat yourself up when things don’t turn out like you wish they would.
- Get back to a healthy, balanced diet, even if you indulged during the holidays. It can be a huge factor in taking care of your mood and mental health.
- Get active, even if it’s just for a few minutes a day. Start small and let the endorphin rush and sense of achievement help you battle the blues.
- Relax your body and mind to take your mind off stressful thoughts. Make time for yourself with yoga, meditation and relaxation.
- Practice self-care with good hygiene and getting proper sleep.
- Get help from your family doctor, a counselor, psychologist or psychiatrist.
- Treat your SAD with a vitamin D supplement and a UV lamp.
Take care of your finances
If you’re stressed about how much you spent over the holidays, reviewing your finances is a good way to help get yourself back on track for the upcoming year.
Take a look at any debt you may have and learn more about the difference between good debt and bad debt. There are different strategies that can help you manage and get out of debt. You can also build an emergency fund you can turn to for help if you overspend in the future.
The start of a new year is also an excellent time to review how you manage your finances. Create a household budget that includes a portion for holiday spending and stick with that budget for future holidays. Look at ways you may be able to reduce your household spending to free-up money to put towards your holiday debt. Above all, keep your focus on your short-term and long-term financial goals including saving for your retirement.
Think about ways to earn extra money, including freelancing or consulting in addition to your regular employment if your employer allows it, or monetizing a hobby or interest into a side-hustle (craftmaking, a YouTube channel, selling goods online, etc.).
You might also consider building a financial support network for encouragement, advice and accountability. Your network included trusted friends or family members and your financial advisors.
How ever you decide to take care of your finances, take small, actionable steps which can help you feel better about your financial situation.