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Money, Mindset, and Mental Health

By Shereen Tawfiq, Co-Founder & CEO, BALINCA

Money is one of the most significant sources of stress in people’s lives, yet it remains one of the least openly discussed topics in the workplace. While organisations increasingly prioritise mental health, wellbeing, and psychological safety, financial wellbeing is often left out of the conversation, despite its direct impact on confidence, performance, and decision-making.

At BALINCA, where we work closely with individuals and organisations across the MENA region, we see daily evidence that money is not just a financial issue. It is deeply emotional. It shapes how people show up at work, how they make decisions, and how secure they feel about the future.

The silent weight of money stress

In a recent BALINCA survey conducted in Saudi Arabia, we asked a simple but revealing question: How does money make you feel?

The results were striking.

Only 3.2% of respondents said they never feel anxious about money. Nearly 97% reported experiencing some level of financial worry, regardless of income, role, or education level. This suggests that financial stress is not confined to any one demographic. It is widespread, and often invisible.

Employees may appear engaged and productive on the surface, while privately carrying anxiety about savings, debt, or long-term security. This silent pressure has a cumulative effect. When financial stress goes unaddressed, it can erode focus, resilience, and emotional wellbeing.

Confidence, mental health, and performance are closely linked

The same research revealed that nearly 80% of respondents believe money directly affects their mental health. Yet confidence in managing money remains low. Only 10.5% said they feel very confident in their financial decision-making, while 21.1% admitted they simply do not know how confident they feel.

This lack of confidence is rarely about capability or intelligence. More often, it reflects a lack of education, tools, and safe spaces to learn. Money becomes a source of quiet stress that people carry into meetings, relationships, and major life decisions.

Why financial wellbeing is becoming a leadership issue

Historically, money has been treated as a private matter, separate from organisational responsibility. That boundary is increasingly blurred.

As leaders focus more deliberately on wellbeing, inclusion, and sustainable performance, there is growing recognition that financial stress directly affects engagement and productivity. People who feel out of control financially are less likely to take risks, ask questions, negotiate, or pursue new opportunities. Over time, this impacts confidence, innovation, and retention.

Financial wellbeing is therefore shifting from a “nice to have” benefit to a strategic leadership consideration.

Moving beyond education to empowerment

Traditional financial education often focuses on information alone: budgets, savings, or investment basics. While important, information by itself is not enough.

Our research and experience show that behaviour, mindset, and emotional responses to money play an equally important role. Effective financial wellbeing initiatives address:

• Confidence and mindset around money
• Behavioural patterns and decision-making
• Practical, real-life financial skills
• Emotional resilience during periods of uncertainty

This holistic approach supports lasting change, not just short-term knowledge.

Breaking the silence around money

One of the most telling findings from our research is how rarely money is discussed openly. Only 21.1% of respondents said they feel comfortable talking about their financial situation with close friends or family, while more than half actively avoid the topic altogether.

This silence reinforces shame and isolation. Organisations that normalise conversations around financial wellbeing, without judgement or intrusion, create space for learning, confidence, and growth.

Why this matters now

Economic uncertainty, rising living costs, and rapid transformation across the region are placing additional pressure on individuals at every level. In this environment, financial wellbeing is no longer optional. It is a critical component of resilience, performance, and long-term sustainability.

Encouragingly, 51% of respondents said they are actively trying to improve their relationship with money. The willingness to learn is there. What’s missing is accessible, human-centred support.

Final thought

Money will always carry emotional weight. When people understand how money works and feel safe engaging with it, they do not just budget better. They become more confident, ask better questions, make clearer decisions, and sleep better.

If we want to build confident leaders, resilient teams, and thriving organisations, financial wellbeing must be part of the wider wellbeing conversation.

Not someday.
Now.

Reference: The Technology Ledger

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