86% of Americans Say This Financial Move Helps Improve Their Mental Health

Money is a funny thing. When you have it, it can make your life easier. But when you don't have it, or don't feel like you have a handle on it, it can mess with your mental health. 

In a recent survey by Self, 86% of Americans surveyed said having control over their money helps improve their mental health. So it pays to do what you can to get a handle on your money. Here's how.

Start with a budget -- if you have the patience for it

One reason so many people find themselves financially stressed is because they live paycheck to paycheck with no money in a savings account to fall back on. That's really not a good way to function (though sometimes it unfortunately can't be helped). 

A better bet is to have a financial cushion in the form of an emergency fund. And many financial experts will tell you that your emergency fund should have enough money to pay for at least three months of essential bills, like groceries and rent.

But to get to that level of savings, you'll need to take control of your money. And budgeting is a good way to do that -- even if it's not the most fun. 

Interestingly enough, in the aforementioned survey, almost 50% of respondents said they've created a budgeting spreadsheet to take control of their money. Whether they kept up with those spreadsheets is a different story.

But the reality is that budgeting can be boring, annoying, and time-consuming. And, frankly, it doesn't always work.

You might budget $400 for groceries in a given month. If, come the last few days, you're out of essentials, are you going to not put food on the table because it'll push your supermarket spending to $420?

Thankfully, there's another thing you can do to take the place of budgeting, and it's setting up automatic transfers into your savings. Figure out how much money you can afford to part with each month, and set up a recurring transfer so that sum is taken out of your checking account regularly.

The whole purpose of having a budget is to take control of your money and work toward your financial goals. Automating your savings really does the same thing, only without the hassle and extra work.

Don't let financial stress ruin your outlook

It's hard to feel good in general when you're constantly worried about money. If that's where you're at, getting into the habit of saving money -- even if it's just a small amount at a time -- could really work wonders for your outlook. 

If you begin by transferring $50 into your savings account every month after your paycheck hits, after a year, you'll have $600. That may not be a life-changing sum. But it could spell the difference between stressing over a potential car repair versus knowing you have the money to pay for something like that.

Of course, if you're willing to set up and follow a budget, more power to you. It's certainly not a bad thing to do. And it's good to know exactly where your money is going month after month. But if budgeting isn't for you, you should know that it's not your only option for getting a handle on your finances and improving your mental health as a result.