The Cost of Living Crisis: Balancing Survival with Actually Living
There was a time when going out for dinner, booking a weekend away or buying yourself something nice felt like exactly that.
A treat.
Now, for many people, even small purchases come with an internal debate.
“Should I really be spending this?”
“I probably shouldn’t…”
“Maybe I’ll wait until next month.”
For many young adults, the cost of living crisis has changed far more than bank balances. It’s changed the way people think, plan and experience everyday life.
Financial pressure has become a constant background noise. Even when you’re doing everything “right”, it can still feel like you’re falling behind.
The pressure to keep up
Social media hasn’t stopped because the cost of living has increased.
People are still posting holidays, new homes, engagement announcements, expensive meals and shopping hauls.
When you’re carefully considering whether you can justify buying a coffee or planning a weekend away, it’s easy to wonder how everyone else seems to be managing.
The truth is, social media rarely tells the whole story.
You don’t see the debt.
The financial help from family.
The overtime.
The sacrifices.
Or the anxiety that may sit behind the photos.
Comparing your finances to someone else’s highlights can leave you feeling inadequate, even when you’re doing the very best you can.
Feeling guilty for enjoying yourself
One of the biggest emotional impacts of financial pressure is guilt.
You finally decide to go out with friends.
Then you spend the evening worrying about how much you’ve spent.
You book a holiday you’ve been looking forward to.
Instead of feeling excited, you feel anxious about your savings.
You buy something you’ve wanted for months.
Rather than enjoying it, you question whether you deserved it.
Over time, this can lead people to believe they shouldn’t spend money on anything that isn’t absolutely essential.
Life slowly becomes about surviving rather than living.
When life feels permanently on hold
Many of the people I work with speak about feeling as though they’re waiting for life to begin.
“I’ll enjoy myself once I earn more.”
“I’ll travel when things settle down.”
“I’ll move out when I can finally afford it.”
“I’ll relax once I’ve saved enough.”
While having financial goals is important, constantly postponing happiness can leave us feeling as though life is passing by.
The reality is that there will probably always be another financial goal.
Another bill.
Another unexpected expense.
If we wait for the perfect moment to start living, we may find ourselves waiting for a very long time.
Financial stress affects mental health
Money isn’t just about numbers.
It’s closely connected to our sense of security, independence and stability.
When finances feel uncertain, it’s understandable that anxiety often follows.
You might notice yourself:
Constantly checking your bank account.
Struggling to switch off.
Feeling guilty about spending.
Avoiding opening bills or checking emails.
Comparing yourself to others.
Feeling behind in life.
These reactions don’t mean you’re bad with money.
They often reflect the emotional weight that financial uncertainty places on us.
Finding balance
This doesn’t mean ignoring your finances or spending without thinking.
Financial responsibility is important.
But so is living.
Sometimes we can become so focused on preparing for the future that we forget to experience the present.
There is value in saving.
There is value in planning.
But there is also value in seeing friends.
Celebrating birthdays.
Taking a day trip.
Buying the concert ticket.
Making memories.
Looking after your mental wellbeing isn’t always free, but neither is constantly denying yourself every opportunity to experience joy.
Balance looks different for everyone.
The goal isn’t perfection.
It’s making thoughtful choices that support both your future and your present.
It’s okay if your timeline looks different
Many people in their twenties and thirties feel frustrated that they haven’t reached milestones they expected.
Buying a home.
Moving out.
Starting a family.
Travelling.
Building savings.
The reality is that today’s economic landscape looks very different to the one many previous generations experienced.
Your circumstances are not a reflection of your ambition or your worth.
Taking longer to reach certain milestones doesn’t mean you’ve failed.
It simply means you’re navigating a different set of challenges.
How therapy can help
Financial stress can be incredibly isolating.
Many people carry worries about money in silence, believing they should simply cope or that everyone else is managing better than they are.
Therapy won’t change the cost of living, but it can help you explore the emotional impact it’s having on your life.
Together, we can make sense of the anxiety, guilt and pressure that often accompany financial uncertainty, while finding ways to care for your mental wellbeing without feeling that you have to choose between being responsible and actually living.
If you’ve recognised yourself in this article, know that you’re not alone. Struggling with the emotional impact of financial pressure doesn’t make you weak, irresponsible or unsuccessful. It reflects the reality that many people are facing today.
Therapy can offer a space to explore those worries without judgement, helping you build a healthier relationship with both your finances and yourself, so that life becomes about more than simply getting through each month.