Motor City Hypnotist
Motor City Hypnotist
Your Bank Account Is Affecting Your Brain More Than You Realize - Part 1
Money troubles and mental health challenges form a devastating cycle that millions struggle to escape. When David and Matt dive into this critical relationship, they unpack eye-opening research showing that 46% of people with problem debt report mental health issues, while those with mental health problems are 3.5 times more likely to experience debt problems.
This episode explores the harsh reality that mental health challenges often make it harder to earn and manage money. The startling income gap becomes clear as we learn people with mental health issues earn approximately $2,376 less annually than those without such challenges, with fewer than half maintaining employment. Most troubling is the revelation that individuals struggling with debt are three times more likely to contemplate suicide than those without financial difficulties.
The conversation takes a thoughtful turn examining how government assistance programs, while necessary, often provide minimal support that barely addresses the underlying issues. Matt brings his 25 years of financial industry experience to the discussion, offering a nuanced perspective on how individual financial habits intersect with larger societal issues like income inequality. David highlights available community resources like Easter Seals and Community Care Services that provide mental health support for those with limited finances.
Whether you're personally struggling with financial stress affecting your mental health, supporting someone who is, or simply interested in understanding this crucial societal challenge, this episode delivers valuable insights into breaking the money-mental health cycle. Subscribe now and join us for part two where we'll share practical strategies for managing financial stress and improving mental wellbeing.
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Change your thinking, change your life!
Laugh hard, run fast, be kind.
David R. Wright MA, LPC, CHT
The Motor City Hypnotist
David Wright: 0:00
In this episode of the Motor City Hypnotist Podcast, we are talking about money and mental health, how that affects your mental health, because, believe me, I have a lot of clients where this is one of the main stressors in their lives and it gets very difficult. It can have a very devastating effect on your mental health. Yes, so we're going to talk about that. I'm going to give you some data and some statistics and then we're going to talk get into the meat of it.
David Wright: 0:26
I think you have a good producer to talk to Absolutely, and Matt's in finance, in case you guys didn't know that. But yeah, this will be very interesting and very informative. Hang in there, folks, we'll be right back this sounds like something for the authorities in Detroit.
Announcer: 0:41
Well, joke's on you. I'm living to 102 and then dying at the city of Detroit.
Matt Fox: 0:45
Guys like this can't take over here out of Detroit.
David Wright: 0:49
Spawned in the hellfires of Motown. Take him to Detroit.
Announcer: 0:54
No, no, not Detroit, no, no, please Anything, but that no. Stationed in Drambuie, my guy is worse than Detroit. We did not have, as a unit, the confidence that we felt like we needed to beat Detroit. Let's go to Detroit Now you're talking brother. I don't think so. He plays for Detroit now. Do they have many farms in Detroit?
Matt Fox: 1:17
Detroit to Michigan. I go to school. I know where Detroit is.
Announcer: 1:22
Get ready for the Motor City hypnotist, david R Wright. Originating from the suburbs of Detroit, michigan, he has hypnotized thousands of people from all over the United States. David R Wright has been featured on news outlets all across the country and is the clinical director of an outpatient mental health and hypnosis clinic located just south of Detroit, where he helps people daily using the power of hypnosis. Welcome the Motor City Hypnotist, david R Wright.
David Wright: 2:09
What is going on, my friends? This is David Wright, the Motor City Hypnotist, and we are back with another episode of the Motor City Hypnotist podcast.
Matt Fox: 2:18
You know it's been a couple weeks.
David Wright: 2:19
It's been a couple weeks I've been traveling. I've done a lot of travel the last two weekends, but I'll get into that in a little bit, but yeah it's, it's a. It was a little bit crazy, uh, but we're here. You made it. I shall podcast your voice.
David Wright: 2:32
Southfield studios hanging out on a monday evening doing a podcast. You know there's. There could be worse things, absolutely there could be. You could be stuck in an airport for 16 hours. That's matt fox, the other voice you hear. Hello, we're hanging out, so let me, let me run down, since right in the intro here. So I go. I fly to florida to do a show at university of florida which I do pretty much yearly um a couple couple years in between, covet they didn't have it, but uh, it's a big show and um, so I get there, no problem.
Matt Fox: 3:01
Um, you know, um that was the weekend, the week of the n tournament too, wasn't it? It was, oh my gosh, it was that weekend, yeah.
David Wright: 3:08
In fact, because University of Florida was in the semis that day, the crowd here was much less. Typically, they have like thousands of kids. Sure, it's a dance marathon, they do 24 hours and they have to be standing the whole time. They didn't put it on the jumbotron and they did okay, good, but um, the crowd was that. This crowd of students was much less. I have a feeling a lot of them were off off site that's fair watching the game and partying.
David Wright: 3:34
All right, still still a great crowd and they had a great time. But on the way home, which was sunday, sunday afternoon, my flight was supposed to leave, I think, right around 120 in the afternoon. That's okay, I get up, you know, I can sleep in a little bit. Get to the airport and Gainesville is like a four-gate airport, it's totally, you know. You walk in, I get through security and be at your gate in five minutes.
Announcer: 3:55
It's that small.
David Wright: 3:57
So I get there and fly from Gainesville to Atlanta to get my connection, get into Atlanta and probably I'm going to say four ish, didn't leave Atlanta till. What's one, 30 AM. This was on Sunday day, sunday day going into Monday night and then Monday morning you land in Detroit.
David Wright: 4:22
Yeah Holy got back to Detroit at like four, four, I'm gonna say a little after four. Little app, maybe it was 350, something like that, but anyway, there's a lot of weather issues, okay, and every if I walking down the concourse to get to my gate delayed, delayed, delayed, every, every flight out of there was delayed.
Matt Fox: 4:39
So you do know that there was like a string of storms with tornadoes. That's, that's what said. It was all weather related.
David Wright: 4:45
Yeah, but this airport was packed with people. I mean, people were lying down everywhere. I told Matt coming in it looked like Jonestown.
Matt Fox: 4:53
It was just bodies everywhere, reminds me of a movie, Little Shop of Horrors anybody?
David Wright: 4:59
Down on Skid Row. So anyway, it ended up fine, the show was done. I so, anyway, it ended up fine, the show was done. I'm glad I didn't have a problem getting in, because that would have been a big issue.
Announcer: 5:06
But going home it's like I'd like to be home, but not a big deal.
David Wright: 5:10
Then this past weekend a shout out to Creston High School in Creston, iowa had a great show there.
Matt Fox: 5:19
So I drove to Iowa on Saturday, drove home Sunday. And how long did you spend in your car over the weekend? Probably about 20 hours total Shiitake mushrooms yes yes, wow.
David Wright: 5:26
That's a long time I could fly there, but it's really not worth. You know, by the time you do check-in and security, and for that show I needed equipment, so to check my Bose system it's like 80 pounds Right. And it goes to oversized baggage and I've flown with it a couple of times and I just I get always a little nervous about that, but uh, I get it.
David Wright: 5:52
So anyway, again, shout out to university of Florida and to Creston high school. Great shows, we had a blast. And um, I get a reprieve for a week. Um Easter weekend this coming weekend and then two weeks from this past weekend I'm in Dyers, back to Iowa, in Dyersville. Are you driving again? I am Oof Yep. All right, dyersville. Do you know where that is?
Matt Fox: 6:13
Is that where they recreated the dire wolves?
David Wright: 6:15
No, it's where Field of Dreams is. Oh yeah, yes, it's in Dyersville. If you build it, they will come. And I have to tell you this, Matt I've been to Dyersville. This is a repeat show. I've done last few seasons and the first. I think it was the first time. First time I went to Dyersville, I'm like, oh, I got to get to Field of Dreams, so I get there, and it was a blizzard that weekend. There was like a foot of snow on the ground, so I'm like, perfect weather for baseball.
David Wright: 6:46
But it was open. But I'm like this isn't what I want to see. So I go back last year, get there park, walk to the field, downpour Like storm Just hit just as I got there.
Matt Fox: 6:53
The ghost of Kevin Costner. He's still with us, but the ghost of Kevin. Costner, james Earl Jones.
David Wright: 7:00
Oh, that's still too soon.
Announcer: 7:02
Oh yeah, I know.
David Wright: 7:03
I know it is, so anyway, that's still too soon. Oh yeah, I know, I know it is All right Anyway that's my travel adventures. Let me tell you, folks, where you can find me. Let's get off my my whining and crying in Iowa, yeah.
Matt Fox: 7:13
In Iowa.
David Wright: 7:14
Yeah, you know, because I'm you know.
Announcer: 7:16
I'm very important. I have many leather bound books and my apartment smells of rich mahogany and before you say another word, yes what is the song that's playing in the background of that drop?
Matt Fox: 7:31
I need to find out, oh gosh not now.
David Wright: 7:34
I'm just trying to. I'm just trying. I've never paid attention to it.
Matt Fox: 7:37
I'm always listening to his speaking right, but there's a song playing in the background. I have to find out.
David Wright: 7:42
Okay, not tonight, but well if, if somebody's listening and they know, drop it on the Facebook comments. Yeah, that'll work. Let me tell you where you can find me my website, motorcityhypnotistcom. Check it out, especially now if you're looking for a show, because we're under the gun here. I just booked a show last week for another high school show and we're in that. We're in prom and grad season folks. It's starting. So if you had some last-minute issue or maybe you haven't booked entertainment yet, now is the time. Motorcityhypnotistcom slash shows Got it. Social media Facebook and YouTube are both Motor City Hypnotist and on Snapchat and Instagram, both are Motor City. Oh and TikTok, yep, all Motor City Hypno. That's H-Y-P-N-O. Fair enough.
David Wright: 8:25
And as we've done every episode, going back to number one and we're on episode 301 today, we're going to talk about 300. Yes, text the word hypnosis to 313-800-8510 for your free hypnosis guide. It will get to you in a couple of minutes, right through your text. It will also give you a link to leave a review of the show. This could be the podcast, it could be a show, if you've seen me just in the last couple of weeks at one of your shows. Either way, you can leave a review on whatever. However, you've interacted with me, you can leave a review about it. Yes, and the big thing wherever you're listening, whatever platform please like, subscribe, connect. And platform please like, subscribe, connect. And the big thing is leave a review, reviews, reviews. I can't understate the importance of reviews because people see it the more reviews you have, the more people are going to catch on and it just goes speak your mind and be honest yeah and absolutely and we go from there because that's the only way you get better absolutely from reviews.
David Wright: 9:21
Well, and the other thing is and I know, I know this from owning the clinic which, again, it's a separate facebook page. So so it's, there are two separate companies motor city hypnotist and counseling and therapy associates. So it's, it's if you, if you, if you own a business, at some point you're going to get a bad review, sure, just be aware of that. It's just going to happen. You can't make everyone happy, although we strive to. That's's our goal. But you know, sometimes people just in general, they like to bitch. I mean, sometimes it just happens, and sometimes it's warranted, sometimes it's not. But the point is, reviews are helpful, good and bad, because it kind of gives you an idea and if it's 90% good, you can probably feel pretty confident with it. Perfect, fantastic, is it time? It is time. It's time for our winner of the week that's how winning is done.
David Wright: 10:16
I haven't missed that. All righty, here we go. So now some of you may balk at this, but this is my winner of the week and it's Rory McIlroy. That's okay. He won the Masters on Sunday, had to go to a playoff hole with Justin Rose Okay, which is a close friend of his. Uh-huh, they are. They're good, in fact, you see him afterwards.
Announcer: 10:38
The embrace, yeah, the embrace.
David Wright: 10:40
Yeah, yeah, but it was I. I I'm gonna sound like a golf geek, and forgive me, but you are a, but there are tournaments every weekend on golf channel, every single weekend, right. So, but the big ones, like the players, or the pga championship, or the masters, the, the I don't know if you saw any of them at, but the this, this crowd size was insane. Yeah, it is like it was every hole lined with people, so I'll.
Matt Fox: 11:10
It was very tiger-esque, and then some yes, oh, the celebration yes yes, yeah just as the crowd.
David Wright: 11:17
It was very oh yeah absolutely yes, yes. So anyway, rory won the Masters, which gives him the Grand Slam for his career.
Matt Fox: 11:28
He's won all four majors in his career 2006, then 2012, twice in 2013, and now the Masters.
David Wright: 11:37
Do you know how many golfers have done that have won the Grand Slam in their careers?
Matt Fox: 11:40
I want to say that's like a small handful maybe eight, nine, if not less six yeah including rory.
David Wright: 11:46
Yeah, yeah, tiger is rare tiger is one of them. Uh, nicholson jack, jack nicholas was one nicholas, not nicholas um sorry, oh gosh, try, I'm not gonna pull the other ones out of my ass, don't worry about it but anyway it was a great.
David Wright: 12:00
It was just really fun to watch. It's just you know that the drama of it the the, you know you get to the 18th and where he could have won it with a putt was like five feet. He missed it, went to a playoff hole and then he was in a bunker and had to bunker it out. So so it was. It was I know for you guys that don't follow golf, this is probably boring you tears, but it was really entertaining, so I'm gonna bore them even more.
Matt Fox: 12:26
So that's fine. Gene sarazin, ben hogan ah, ben hogan, that's one I couldn't pull up. Gary player, jack nicholas, tiger woods and rory mccory, rory mccory yep boy, that's a that's a, that is a people, that's a prestige list right there.
David Wright: 12:45
Congratulations to Mr McElroy. I mean, yeah, you know, I was online today. I actually was on the Master's site, their Facebook thing, and there are a lot of people who don't like Rory.
Matt Fox: 12:55
No, there's not. He's not a favorite.
David Wright: 12:58
I don't. I mean, I guess I get it. Here's the thing he was really outspoken when live broke off from the PGA about that. They've they've abandoned their, their how do I say this their moneymaker to try to do to already get more money. But anyway, regardless of all the politics of it, again it's an accomplishment, it's a feat. I love it. I'm a big golf fan. Yeah, definitely I love it. I'm a big golf fan.
Matt Fox: 13:23
Yeah definitely the winner of the week. Yep, Real quick the purse for the Masters this year. Can you take a stab?
David Wright: 13:31
as to how much.
Matt Fox: 13:31
The purse was 1.6.
David Wright: 13:33
The purse oh.
Matt Fox: 13:35
As a whole, purse the whole purse.
David Wright: 13:37
Oh Jesus, oh, that's got to be 20 million.
Matt Fox: 13:41
$21 million was the purse, yeah, the entire purse. Yeah, the entire purse. Yeah. So the payouts Rory walked away with a cool $4.2 million for playing golf for four days or playing golf for four days, but that's his career.
David Wright: 13:57
It is right, he's worked hard. We'll have to say this, and I don't know if my my golf coach is listening I take lessons, but he's a professional, he's a professional golfer. But he told me when he does tournaments because unless you're the elite there's no money in it there really isn't For him to win a tournament. He might get $1,200. Sure, it's nothing to sneeze at. That's four days of golf and these guys are the best of the best. And in in my my golf coach tells me all the time because you know we'll practice, you know I take lessons and then we'll hit balls and whatever, and and I'll get frustrated and he's like man, dude, you're, you're, you know you're not gonna hit the fairway. Every time he says professionals don't even hit it 50 or 60% of the time, right, so don't. You're good, yeah, you're good, yeah, so it's all good, that's anyway, it's huge, definitely winner of the week. Thank you.
Announcer: 15:01
That's how winning is done.
David Wright: 15:03
Yes, it is.
Matt Fox: 15:13
So back to it. So what would you do with 4.2 million dollars would?
David Wright: 15:15
that alleviate a lot of frustration in your life. Well, here you know, the funny thing is matt, I would yes, for for me it would, yes, but, but it brings in a whole slew of other challenges. Okay, uh, of course, just in general. I mean, believe me, I'm not saying I wouldn't take it, that's all. It would, yes, but it brings in a whole slew of other challenges. Okay, of course, it would, just in general. Believe me, I'm not saying I wouldn't take it, that's not all I'm saying. But you ever watch the show Lottery Ruin my Life, or any of those?
Matt Fox: 15:34
Right, you've heard the horror stories.
David Wright: 15:37
If you can't manage making $50,000 a year, you're not going to manage $4 million.
Matt Fox: 15:43
No, because it's all about habits.
Announcer: 15:50
Yes absolutely.
Matt Fox: 15:50
It's about your lifestyle, it's about how you live your life. It's about how you were raised a lot of the time as well when it comes to how to manage money right. What they don't teach you growing up is the effect that money can have on you, and that's what we're talking about.
David Wright: 16:02
Yeah, absolutely we're. We're talking about how money can have on you, and that's what we're talking about. Yeah, absolutely, we're talking about how money can affect your mental health and, specifically, either lack of money or poor money management, or being late on payments, or possibly losing a house or your car.
Matt Fox: 16:18
There's a risk with anything that you take when it comes to money, because the dollar is a dollar. It's always going to be a dollar in your world. Okay, but how do you manage that?
David Wright: 16:26
one dollar, right. So here's the big thing. Um, there was a study done a couple of years ago uh, I should say a couple, four, four, four or five years ago, but the the supposition of this study was was to kind of tell you that people with people who have debt problems are more significantly, significantly, likely to experience mental health problems.
Matt Fox: 16:53
It's one and the same. You want to do things you want to do, you want to be, you want to be able to go out and travel and have a good time, but you don't have the means to do so. However, you make choices that pull you down even further, because you don't really understand the implications.
David Wright: 17:14
Or you're just buried and you don't have any options. So in this study, almost half 46% of people in problem debt have mental health issues. Self-report 86% of the respondents it was a debt. Have mental health issues Okay. Self-reported 86% of the respondents it was a money and mental health survey. They surveyed 5,500 people and 86% of them said that their financial situation has made their mental health problems worse A vast majority of them.
Matt Fox: 17:42
So let me ask you this question when it comes to taking care of yourself, the mental health part of you, that's not cheap.
David Wright: 17:49
Nope yeah, especially if you don't have insurance Right and if you don't have insurance.
Matt Fox: 17:56
now you're coming out of pocket to take care of your mental health, but you don't have the means to take care of your mental health, so you get pulled down even further down the rabbit hole.
David Wright: 18:04
Well, and here's the thing, and we're going to get into strategies and actions that you can take. But I do want to say and Matt, you brought this up before I believe that there are services out there for people who are indigent or lower income or maybe can't afford it.
David Wright: 18:19
So Easter Seals is one community care services, the guidance center and I'm talking about in our area. I would definitely do a search online for wherever area you're in. Sure, absolutely, but there are services available. So here's the other connection. The immediate connection is that people who have mental health issues are more likely to have money issues in general issues are more likely to have money issues in general. So almost one in five, 18% of people with mental health issues have problem debt.
David Wright: 18:54
People experiencing a mental health issue are three and a half times more likely to be in problem debt than somebody who doesn't have mental health issues, and 72% of respondents to this study said that their mental health problems made their financial situation worse. So, in essence, they might be depressed or anxious, but that's made their money problems worse than they would have been. Okay, so we're going to talk about a cycle and, matt, you'll probably know exactly how this is going Not you personally, no, no, no, because you work in finance about a cycle and matt, you can, you'll probably know exactly where how this is going.
David Wright: 19:25
Yes, not you personally no, no, no because you work in finance.
Matt Fox: 19:28
So I've been in banking for almost 25 years, so I've heard it, I've seen it. I've. Unfortunately, I lived a part of it as well, going through, you know, my early 20s and then through a divorce. Yeah, I've seen it, I've heard it, I've experienced it, so go on so this is the cycle.
David Wright: 19:44
Mental health problems make it more difficult to earn and manage money and spending and, more importantly, to ask for help or to seek help. That's the bottom line. What happens then is you suddenly, if that's where you're at, then you're going to have financial difficulty, which leads to stress. Then you're going to have financial difficulty, which leads to stress, anxiety, a lot of other mental health issues, if you go into collections or have to go without things that are essential in your life because of money, it adds on to the mental disorder.
Matt Fox: 20:17
People are out to get me. No one wants to help me, it just adds, and it adds.
David Wright: 20:23
And that adds more mental problems and that cycle just continues. It's like this vicious cycle you can't get out of. So again, we know financial difficulties contribute to stress and anxiety. So here's the thing A lot of times, with mental health, there's already a stigma attached to mental health, but somebody might be able to say, yeah, I'm depressed or anxious because I had a death in the family or I just got a divorce or whatever. Whatever the situation is, my issue is money. That's that that's not at the forefront of their thinking, that they don't. They're not linking the money being as part of the thing that's driving as the catalyst yes, as the catalyst for your mental health issues. Um, and and it it really reduces when you have financial issues. And and I'm alluding back to what you just said, matt, matt it's much more difficult to get mentally healthy when you have financial issues. One, it could be a challenge as far as the cost, but people with depression and problem debt are 4.2 times more likely to still have depression 18 months later than people without any financial difficulty.
Matt Fox: 21:44
How does one get themselves out of financial difficulty is the biggest question that I can ask, because it's all up to the individual, yep, and if you have habits that are holding you back from getting financially stable, whether it be smoking, or whether it be clothing, or whether it be the lifestyle that you live, or what have you, the choices that you made in the past? I was told something at a very young age you need to change your lifestyle because I was living beyond my means.
David Wright: 22:15
Absolutely.
Matt Fox: 22:16
And that is a very hard. It's a coming to Jesus moment really, yeah, and you need to really be honest with yourself Can I afford the way I'm living? And if you can't, then you need to make changes. But you have to be mentally ready for those changes.
David Wright: 22:31
you can't have steak every day I'm sorry you're gonna have to have no, no, no, you're no, exactly right and and and the issue is is that some people just get so kind of lost in it, they get hung up and it's like they they don't know what to do at that point, and that's fair. And here's the other, more serious Again. Having stress and anxiety is serious enough, but people in problem debt are three times more likely to contemplate suicide.
Matt Fox: 22:58
That's what came into my mind and that's really. That's a terrible statistic to hear, but it's real. It's absolutely real and folks do it because they feel they have no way out.
David Wright: 23:09
No way out, that's what they feel like. So here's some other interesting data that we have. The income gap for those with mental health issues is significant, I bet, as far as making a living significant as far as making a living. People with mental health issues and again this is just based on one study of 5,500 participants have a gross annual income $2,376 less than people without a mental health issue. Now, I know that doesn't sound like a lot.
Matt Fox: 23:43
But I want you to repeat that because I want to get the numbers right go ahead.
David Wright: 23:47
People with a mental health people with mental health problems have a median gross annual income of two thousand three hundred and seventy six dollars less than people without a mental health issue so somebody makes, let's just even it out someone makes five grand a month, somebody makes twenty,500 a month.
Matt Fox: 24:06
Right, that's half yeah, right.
David Wright: 24:08
Well, it would be like like 20, 2,300 less, okay, per year. I'm just you, I'm rounding, yeah, I'm rounding up a little bit.
Matt Fox: 24:16
Yes, so you have someone that makes five grand a month, and that's how much a year? Five grand a month five times 12?
David Wright: 24:22
yeah, yeah, do yeah.
Matt Fox: 24:25
I've been mathing all day. Then you have someone that brings home $2,500 a month. Is that before or after taxes?
David Wright: 24:32
Yeah, it's hard, yeah, it's hard.
Matt Fox: 24:33
They break it down, it's very difficult to live off of $2,500 a month. Sure, absolutely, with rent and groceries and childcare if you have children, and vehicle payment if you have a vehicle and insurance that you are obligated to have in the state of Michigan, you have to have insurance, no matter what it's, just it adds and adds and your cell phone and your.
David Wright: 24:59
Well, and here's the other thing that comes into play, and of course we know when I say this it's going to seem like common sense, but less than half of the people with mental health issues in this study were employed.
Matt Fox: 25:10
Less than half, so 5,500 people were in the survey, and less than half were employed due to mental health issues, that's wild.
David Wright: 25:22
Yeah, that's wild, yeah, and that really is kind of like that. And those who did have jobs are more likely to work part time because of their be. In this population, more than one in three, 37 percent, are in the lowest paid occupations, meaning janitors and, yeah, probably like minimum wage or somewhere near there McDonald's. And yes, yes, Not career, positions, not career positions.
Matt Fox: 26:01
They're in hourly positions.
David Wright: 26:02
Yes, exactly, geez. Now contrast that to those who didn't report mental health issues and the difference is 12%. I know that doesn't seem like a lot, but it's, but it is. Here's the other thing that happens People with mental health issues are more likely to receive government benefits, whether that be social security, disability, whether it be food stamps, whether it be WIC, whatever the you know, whatever the aid agencies are.
Matt Fox: 26:34
Well, food stamps and WIC, that's all grocery-based Right. Social Security, disability or what have you? That's state-based Mm-hmm Right. Yes, and the state would provide funding. The government would provide funding. So there are resources that these individuals tap into.
David Wright: 26:54
There are.
Matt Fox: 26:55
But it's not enough. Based on no, no.
David Wright: 27:01
And again, even the study says receiving benefits is good, but it provides a very low level of financial support.
Matt Fox: 27:12
Very financial support very and if you and if and if you're getting funding, if you're getting resources from the state and you are working, you actually have to tell the state I'm working this many hours and I'm making this much, and they may just decrease the amount of benefits that you're getting on a monthly basis because you're showing that you can't support oneself well, and again, here is the interest.
David Wright: 27:32
another interesting step the cost of living is crazy. A third of benefit claimants, any type of assistance, any type of government assistance Sure, 35%, and nearly half 47% of adults receive some kind of out-of-work benefit, that receive an out-of-work benefit have a mental disorder. I mean, they kind of go together. It is yes, and and this is not a criticism, I'm just telling you that the situation that people are in because you know again, as I'm going to refer back to experience in my 32 years of working clinically with clients they, many of them are, are applying for or are on disability. Now, I'm not a disability expert, but it's not major income. You're talking probably a couple thousand dollars a month. If that Can I play devil's advocate real quick, sure.
Matt Fox: 28:28
Are they claiming because they have to be or because they're playing the system?
David Wright: 28:37
playing the system? I have to ask that question. That's a fair, fair, fair enough fair question because some people do milk the system, some people don't want to work and and I I don't say I get it, but that that is a part of the population out there that happens I have to ask that question because it's out there and it's I.
Matt Fox: 28:51
I really wish that there were a way to weed those folks out that are playing the system, if you will, because they're just holding back everybody else that really needs.
David Wright: 29:02
Well, and here's the challenge that comes in again, coming from a professional standpoint and working with clients, many of them that that should be, in my professional opinion, that that are they're not able to work and in my professional opinion, that that are they're not able to work, that their, their mental issue prevents them from working. But Many of them have been turned down over and over for disability. Because of why? Because systems abused, correct.
David Wright: 29:30
Yes, and that's just the downfall, that is the downfall and that's the challenge for a lot of people. Thank you, You've made my point. So when you have a mental issue or mental challenge whether it be anxiety, depression, bipolar disorder, whatever it is you can. You're going to struggle to maintain and work and have benefits and have income. So, as part of this report, they said that in 2018, 23,000 people were struggling with debt while they were in the hospital for mental care issues. So 20, 23,000. Yeah, and here's another one. The research also found people with common mental disorders are twice as likely to be behind in debt. As far as taxes required debt, income taxes, property taxes, whatever Things that you have to pay- the essentials, yeah, the essentials, as an American citizen.
Matt Fox: 30:38
The essentials, yeah.
David Wright: 30:39
The essentials as a American citizen. Jesus, yeah, and again I. I'm hitting all these and it just sounds like. It sounds like a bunch of data, but it's not. These are real people and I'm trying to get across that. This affects a lot more people than you would ever expect.
Matt Fox: 30:54
Yes, this is affecting the lower, the low. I hate to use the word low income, but it affects the low income population the most. How? But the other side of the coin, it's the folks that make the money, that pay the taxes, that are paying for these folks to get the resources that they need Sure, and who's holding? Who back?
David Wright: 31:18
that. That that's.
Matt Fox: 31:19
That's a philosophical question, yeah I mean it's a good question but it's just it comes down to if folks truly have a mental health disorder and they have money problems and those money problems are affecting their mental disorder, where does the line get drawn? So we can all be in this together to help one another well, and seeing that and that and that's that's.
David Wright: 31:43
That's really a challenge. I it is. If somebody had an answer to that, they would be.
Matt Fox: 31:48
We're going to have to talk star trek logic right, exactly right so yeah, but that that's where my brain is. We all have to be one body of individuals to help one another. Sure, people are definitely going to make more money than the next.
David Wright: 32:04
Sure, there's always going to be income inequality and, as you say, everybody's got shit.
Matt Fox: 32:08
Everybody has problems, but where does that line get drawn so we can all come in together and make it, so we don't have those?
David Wright: 32:16
problems. Yeah, I mean, that would be fantastic. In a utopian society that would be the case.
Matt Fox: 32:26
I know we have another episode to get to. No, no, we do and we're going to continue this.
David Wright: 32:30
So here's what we're going to do, because I have some more stuff to give, and then we're going to give you some practical things that you can focus on, thank you. So we're going to do that. Starting next, we're going to do another episode. If you're on Facebook live, stick around. We're going to be right back with another episode tonight for listening to audio. Whatever platform you're on, skip ahead or wait till it drops on Tuesday or Thursday.
Matt Fox: 32:52
This is the. This conversation is getting me fired up. I know. No, no, Well, but see, because you're in finance, this is right in your wheelhouse.
Announcer: 33:03
It's not just finance, it's about the philosophical it's about.
Matt Fox: 33:04
it's about how we take care of one another, because well, and and here's an and again.
David Wright: 33:09
I'm going to get off just for just a minute on the soapbox that in a capitalistic society which we're in, there are haves and there are have-nots. That's part of what happens in that society. Fair, and I'd like to say that the people with the most money help those who don't, but that's not what happens. No, that's not how it works, unfortunately, and and I don't, I don't want to be grudged with people who've worked and made money.
David Wright: 33:36
Don't just send people into space because they can pay for it well well, and again, if you just look at one of the the biggest issue, if you broke it down and I'm going to be I, this is probably not a bold statement, I'm sure somebody said it if you break down the united states and say what's our biggest problem in this country? Income inequality, just inequality, just money. That's it. That is the issue, because without income, there's more crime, there's more illness, there's more mental health issues, which we're talking about, and that cycle just continues. Because if you're born into that, that's all you know and, unfortunately, data shows. Because if you're born into that, that's all you know and unfortunately, data shows that if you're born into poverty, you typically live in poverty for the rest of your life.
David Wright: 34:23
Right, there are exceptions there. I'm not saying there are big exceptions to that, but for the majority, that's just what you've learned, that's what you were born into, that's all you know. So that's how you operate, sure, yeah, man. So yes, we are going to come back with part two of money and mental health before we leave. Who needs a home? Michael, michael.
Matt Fox: 34:43
Michael needs a home no, I'm sorry, that's jason michael michael is a mixed breed.
David Wright: 34:49
He was born in 2022, so could be a couple two to three years old old. He's 60 pounds. Dog friendly yes. Cat friendly. Unknown Kid friendly Over five years old. Okay, there's Michael.
Matt Fox: 35:01
Come on, I know Come on. Michael needs a home Look at those sad eyes he's like I want a couch. Listen the coloring between his eyes, the white. Yeah, Between the marbling on him.
Announcer: 35:15
Oh he's beautiful?
Matt Fox: 35:16
Yeah, he's beautiful. Yeah, and you want to take a look? Yes, I do. And the white between his eyes on his nose and his snout matches his paws. He's gorgeous.
David Wright: 35:27
I know it's a beautiful dog, it's a beautiful puppy and I don't want to say this to make people feel guilty, but he was born in 2022. So I don't know how long he's been in the shelter, because somebody could have given him up after as a puppy or after a year or two he's three years old.
Matt Fox: 35:42
He's got some things about him.
David Wright: 35:44
I'm sure.
Matt Fox: 35:45
He probably has some behaviors that might have to be worked on, but you know what those are the best, that's the best time.
David Wright: 35:52
Look at that. He wants to cuddle with you.
Matt Fox: 35:54
He wants to cuddle with you and lick your face he loves peanut butter great odin's right no I'm excited for the next episode because we're going to continue on here, so anyway.
David Wright: 36:12
Michael needs a home. Detroit dog rescuecom. Slash adopt all righty folks. So again, those of you on adopt All righty folks. Again those of you on Facebook Live stick around, we're doing one more episode. Those of you on audio, skip ahead or wait until Tuesday or Thursday. Fair All righty folks. Change your thinking, change your life, laugh hard, run fast, be kind, we'll see you next time, so you.