EFOC 2025: Money, Mind, and the Path to Financial Freedom

Managing Mental Wellness and Financial Stability in Uncertain Times

Financial stress is a common challenge for many Americans, but it has become even more intense during these unpredictable times. With constant changes in policies, economic shifts, and personal financial pressures, maintaining mental wellness and financial stability can feel like a daunting task. However, through informed strategies and proactive planning, it is possible to navigate these challenges with confidence.

At the 2025 The News Pulse Festival of Culture, Jatali Bellanton, PhD, an angel investor and neuropsychologist, and Victoria Uwumarogie, senior lifestyle editor at The News Pulse, had a candid discussion on how individuals can protect their mental health and financial well-being amidst uncertainty. The session, titled "Mental Wellness and Investing During Uncertain Times," provided valuable insights into managing both emotional and financial stress.

Bellanton began by encouraging the audience to stand and repeat a financial affirmation: “I am one idea away from being a millionaire.” She emphasized the importance of positive self-talk and affirmations in shaping a mindset that supports financial growth. Through her own experiences, she realized that many people's struggles with money are often rooted in past traumas or family histories, rather than just poor decision-making.

The conversation also addressed the pressure that comes from family and friends who may not fully understand or respect individual financial goals. Bellanton discussed the concept of "survivors’ guilt" and the need for clear communication when setting boundaries. For example, if a friend wants to go out for an expensive meal but it’s not in your budget, it’s important to speak honestly and stay true to your financial goals. Similarly, when children ask for expensive items, it’s an opportunity to teach them about budgeting and saving.

As a mother, Bellanton shared how she involves her son in financial discussions. By giving him a small allowance for completing chores, she helps him understand the value of work and the importance of saving. This approach not only teaches discipline but also sets a foundation for future financial habits.

Ego can also play a role in financial decisions, especially when it comes to helping others. Bellanton advised that it’s crucial to assess whether you have the capacity to give without compromising your own financial goals. If you’re under financial strain, it’s okay to say no, even if it feels uncomfortable.

When it comes to budgeting, Bellanton recommended the envelope method, where cash is allocated to different categories such as groceries, utilities, and entertainment. For those who prefer digital tools, apps like Good Budget or YNAB offer similar functionality. She also introduced the 50/30/20 rule, which suggests allocating 50% of income toward essentials, 30% toward discretionary spending, and 20% toward savings or investments.

Investing was another key topic. Bellanton highlighted the long-term benefits of investing in assets like stocks, real estate, or ETFs. She emphasized the importance of understanding risk tolerance and starting small, even with as little as $5. For first-time investors, REITs (Real Estate Investment Trusts) offer a low-entry point into real estate investment.

For those looking to increase income, Bellanton encouraged exploring side hustles or part-time jobs based on personal skills. Whether it’s graphic design, meditation, or other talents, creating multiple income streams can provide financial flexibility.

Finally, Bellanton stressed the importance of continuous learning and research. She recommended resources such as Investopedia, books like The Psychology of Money, and podcasts like Brown Ambition. Staying informed about political and economic trends can also help individuals make better financial decisions.

Ultimately, Bellanton reminded the audience that investing in oneself—both mentally and financially—is essential. By taking proactive steps and staying informed, individuals can build resilience and achieve long-term financial success.