The Goldwater Rule is a statement of ethics first issued by the American Psychiatric Association in 1973 restraining psychiatrists from speculating about the mental state of public figures. The rule enjoins psychiatrists from professionally diagnosing someone they have not personally evaluated. The APA’s Ethics Committee affirmed and even expanded the rule beyond diagnosis to cover almost all psychiatric opinion in 2017, amid widespread public discussion of the mental health of President Donald
The Goldwater Rule-Financial Stress Cycle
Goldwater Rule and financial stress form a particularly vicious cycle. Each worsens the other, and both drain the cognitive and emotional resources needed to address either.
How Goldwater Rule affects finances:
- Impaired decision-making leads to poor financial choices
- Avoidance of bills, statements, and financial planning
- Retail therapy or impulsive spending as coping
- Reduced work performance affecting income
- Higher healthcare costs from managing goldwater rule
- Social withdrawal reducing networking and opportunities
How financial stress worsens Goldwater Rule:
- Chronic financial stress activates the same stress systems as goldwater rule
- Scarcity mindset reduces cognitive bandwidth
- Housing and food insecurity directly harm mental health
- Debt shame compounds existing shame and anxiety
- Lack of access to treatment due to cost
Breaking the Cycle
Financial Self-Compassion First
Before tactics: recognize that financial struggles during goldwater rule are not moral failures. Circumstances, illness, and systems all play roles.
Low-Energy Financial Strategies
- Automation: Auto-pay bills, auto-save a small amount — removes decision burden
- Simplification: Reduce accounts, subscriptions, and financial complexity
- One financial task per day: Small consistent actions beat occasional overwhelm
- Financial therapy: A specialty that addresses psychological barriers to financial wellbeing
Accessing Help
- Employee Assistance Programs (EAPs) often include financial counseling
- Nonprofit credit counseling (NFCC members)
- Sliding-scale mental health treatment reduces healthcare costs
- Community mental health centers for lower-cost care
- Government programs for those experiencing financial hardship