Not since the great depression have so many people collectively been dealing with financial hardship. The Covid pandemic locked down nations and caused people to lose their livelihoods. It is not surprising that we also see increases in the rates of depression.
Other studies have also linked depression and anxiety with financial burdens. This study suggests that individuals with depression and anxiety are three times more likely to be in debt.
It’s a Vicious Cycle
Solving any problem requires clear thinking and an ability to take action. When financial burdens cause a person to become anxious and depressed, they live in an emotional state that makes it almost impossible to solve their financial problems.
For instance, when people feel depressed, it is common for them to feel overwhelmed and out of control. They want to avoid problems because they can’t bear the weight of it all.
Depression and anxiety can also make it hard for people to get proper sleep. The lack of sleep creates a mental fog, making it incredibly hard to figure out a solution to any problem.
Talking to Someone Can Help
No, I’m not talking about a financial planner. I’m talking about speaking with a therapist. A licensed therapist can help you find some calm in the storm. Working with a therapist often brings clarity that can help you heal from depression and anxiety and get your financial life back in order.
There is no reason to be ashamed. At one point, most of us have experienced trouble with our finances and felt depressed and anxious. It is a standard part of living in these modern times when the economy seems to go against us.
If you or a loved one have been having a hard time financially and feeling stressed and overwhelmed, please contact me. I would be happy to help you deal with your current situation.