Handling Financially Induced Depression

                       

 Depression is a part of human baggage which is becoming endemic and we need to take conscious effort not to be caught in its web. Anybody can be depressed, a more crucial reason to be watchful and take personal responsibility for our health and life.

What is Depression? This is the feelings of severe despondency and dejection caused by several situations which includes money problems or financial stress. Many people are having a tough time paying bills and meeting their financial obligations which has led to a feeling of despondency, dejection and ultimately Depression.

I am not a health expert but a Personal Finance Coach, so I can only proffer solution on only financially induced depression from finance perspectives.

1)      Accept your present situation (Be Contended with what you have for now)

You must first accept the way things are before you can change them, contentment is defined as accepting your present situation while you work at becoming better. We can't necessarily get rid of pain, including the pain of losing a job or not being able to pay bills, what we do is get rid of suffering, and suffering is failing to accept what the obvious is, by constantly remembering ourselves of a better future, no matter what the present situation is. 

We can't necessarily get rid of pain, including the pain of losing a job or not being able to pay bills, what we can do is get rid of suffering, and suffering is failing to accept what the obvious is, by constantly remembering ourselves of a better future, no matter what the present situation is. 

2)      Focus on what you have control over.

Take a good, hard look at your budget (Read), your expenses and income. Ask basic questions like-: what do I spend my money on? Channels where my money comes from? Am I happy with what I spend the money on? 

Another point is: Do not put yourself under undue financial pressure. When it comes to your finances, you must learn to say NO to some people and somethings. "Do an honest assessment of what you actually need, because there's really very little correlation between things and happiness," says Brad Klontz, PsyD, a financial psychologist.

3)      Make action plan to improve

Make an action plan to improve your finances by tightening your budget and searching out new income streams. Also, stop spending on frivolities.

Instead of feeling embarrassed or guilty when you're having money trouble, "it's actually time to turn to those loved ones for support. You're going to hear from them that they're in the same boat, or a similar boat." The truth is for everyone, at a point in life have felt bad about his or her dwindling financial condition. However, this should not make us complacent but rather work on it and become better.

   4)      Another way to improve is by keeping records of financial achievement and always refer to them when we are financially down to avoid slipping into depression.

To everyone going through money troubles now, I want you to know that tough time don’t last but tough people do. Be tough for yourself, it is not worth it to slip into depression because it is costlier getting out if you ever will, many are dead simply because of depression. If you need someone to talk to, you can reach out to us.

I remain your friend and Personal Finance Coach Babatunde Ayorinde, follow me on twitter @pistis03, on Instagram @personalfinancebabat

And if you like to engage us to speak in your program or for adverts send us a mail at babat09@gmail.com.

Thanks for reading, invite you Family, Friends, and Foes to read the blog, as we move ahead to our financial freedom.