HEALTH

FINANCIAL DEPRESSION AND OUR HEALTH

Poor financial health may lead to poor mental health. Much more important is logical inverse: that taking active steps to ensure our financial health is very likely to pay positive dividends on our mental health as well.

If you are worried about money, you are not alone. It’s a very common worry. Financial stress can affect your relationships and your health, so it’s very important to seek help and support as early as possible. Lots of situations can cause financial stress. You might have lost your job or been retrenched, you might be unemployed or unable to find sufficient work, you might have debts you cannot pay or you might feel worried about expected financial pressures.

 Some signs that financial stress is affecting your health and relationships include arguing with the people closest to you about money, difficulty sleeping, feeling angry or fearful, mood swings, tiredness, muscle pain, loss of appetite, lower sex drive and withdrawing from others. While these are normal reactions, they can affect your health if they continue for more than a few weeks. You could be at risk of developing anxiety or depression. Some people use drugs or alcohol to help them cope. Some have thoughts of self-harm or suicide.

Be realistic and take control of your changed financial situation, here are some tips to help you through this difficult time:

• Stay on top of your emotions - Write down your worries to help you work out which issues to tackle first.
• Look after your health - Eat a healthy, balanced diet and exercise regularly. Talk to your doctor if you have a pre-existing medical condition that could be aggravated by stress.
• Share your feelings with supportive friends and colleagues - Identify people you can talk to about how you are feeling and who will help you remain positive.
• Be honest with your family - Tell them about the situation and how it might affect the household budget..
• Draw up a budget - Write down a summary of your finances and work out how much money you need to cover your costs. You may need to limit your spending for a while.
• Contact your bank - Most financial institutions have policies in place to assist customers experiencing financial problems.
• Contact a Department of Human Services social worker - They can give you extra support and advice on coping with financial stress.