Payments causing financial stress? Here’s why you’re not alone

Are payments getting you down?

It’s true for many South Africans.

Financial stress is real, and affecting many South Africans – and it could even be impacting you and your family.

Financial stress is any emotional stresses about money, payments, or meeting obligations like your bills.

It’s not just happening to you.

Money-related stressors are affecting almost all South Africans.

Here’s what it means for you, and how you can cope better.

PAYMENTS: FINANCIAL STRESS AND DEPRESSION

Payments can be a causing factor for stress-causing depression.

Studies have found a link between stressing about payments and conditions like major depression.

Depression is a mood condition. It can affect anyone, according to the South African Depression and Anxiety Group (SADAG).

What distinguishes normal money stress and depression from one another?

Money stress is rational, but depressive feelings focus on its negative impact. Depression is an underlying condition that needs to be managed.

Feelings of sadness or despair that don’t go away could be more likely linked to depression.

PAYMENTS: BUDGETING BETTER FOR THE MONTH

Payments going off is stressful. We expect monthly deductions, and we can feel them getting closer. Bank costs and loan repayments outrank Stephen King’s nightmares.

Experts suggest setting up a budget.

What gets paid and when?

How much do you have to pay it?

Where can you cut?

Where should you increase?

Write it down, say experts who claim it can make budgeting easier.

What about stress?

Stress is a symptom.

WHAT IS DEPRESSION?

Depression isn’t about money. However, money-linked stress can trigger depression.

Studies have linked depressive feelings and financial stress. If you’re already stressed, worrying about money can exascerbate these feelings.

WebMD says: depression is a medical condition with associated feelings of sadness.

Seek help if you think you (or someone you know) struggles with depression.

SADAG: SEEKING HELP

Contact the South African Depression and Anxiety Group (SADAG) for help.

Struggling?

You could lose interest in once enjoyable activities. You could have feelings of sadness. It’s normal and linked to depression.

It can affect anyone, regardless of their social status or circumstances.

Depression is treatable, and help exists.