Financial Crisis – Growing Money Worries Are Making Us Ill

By Kat Fuschillo
Writer for FEP International

As the financial crisis worsens, mental health charities and organizations have seen a sharp increase in the number of reported mental health conditions. In these times of financial uncertainty, people are far more likely to suffer from depression and stress related illnesses. The pressures associated with the credit crunch not only reduce the quality of our lives, but they can actually make us ill, and in some severe cases, reduce our life expectancy.

Money worries and mental health...

Research has shown that being in debt can increase your stress levels and cause depression. As the US falls deeper into debt, health care professionals have predicted that we can expect to see an increase in cases of stress related illnesses and depression. The emotional stress is also making people physically ill. Stress is a very powerful and dangerous condition, which can severely affect peoples' metal and physical health. It primarily affects the cardiovascular system, weakens the immune system and can also cause premature ageing. People under huge levels of stress often complain of sleeping problems, increased anxiety, fatigue and depression, which can all lead to health problems.

More people are turning to alcohol and drugs as a way of dealing with their problems. Recreational drugs are often used for escapism and to help people forget about their mounting problems. But, the use of these substances often make the user less able to deal with their situation, and can spiral them even further into debt.

Job security is a major concern. The fear of losing a job not only puts employees under immense pressure, but it is also said to be affecting peoples' self esteem. People have cited that the fear of losing their homes, the worry of missing mortgage payments, and the inability to pay bills are having a profound effect on their health and happiness. This constant daily worry is the main reason for the increase in depression, and why people are less able to cope in their everyday lives [1].

Mental health and young people...

For most young people, this is the first time that they have ever been faced with financial uncertainly, and many are finding it difficult to deal with the stress. Instead of affecting young peoples' health, it's affecting their behavioural patterns. The younger generation have significantly reduced their spending, and the amount of time spent socializing. This drastic change will in some cases, substantially affect their quality of life, lead to isolation and increase their chances of depression [2].

Have you been affected?

The following symptoms are some of the most common found with depression. Are you experiencing any of the following:

- Sleep related problems
- Increased negative thoughts and uncontrollable sadness
- Difficulty getting out of bed in the mornings
- A lack of motivation
- Difficulty concentrating
- A reduced appetite

If you're unable to pick yourself up, or get out of your depressed slumped, you may need some additional help, to get you through this difficult period of your life. Seek advice from a medical professional if any of these symptoms persist or worsen [1].

References

1. Credit crunch stress –
http://www.nhs.uk/Livewell/Onabudget/Pages/Creditcrunchstress.aspx.
Accessed Aug 31, 2009.

2. Credit-crunch 'isolation' warning –
http://news.bbc.co.uk/1/hi/health/7563726.stm. Accessed Aug 31, 2009.