Financial Loss depression/ Losing income

Written by: Rujusmita Selvan – M. Sc (Psychology)

Last updated date : December 07, 2022

Do you feel depressed because of losing a large amount of money? Losing income can be challenging for many people, causing significant financial loss depression. Losing money can affect the mental health of people, affecting their relationships and their families. You might be wondering how does money affect depression?

If you are worried about money, you are not alone. Many of us are having to deal with financial loss depression. We will see how money affects depression.

Feeling down by money worries can affect we will see how money affects depression.






“Very practical suggestions”
Peter


95 sections


6-Weeks Self-Paced

  • Educational Content
  • Quizzes
  • Self-reflection material
  • Suggestions & feedback
  • Worksheet, tips & tools to use

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Chapter 1:

How does money affect depression?

Losing the ability to engage in the many activities that you strived for and also shared with your family and friends, due to financial loss, could lead to depression. It is about hopes, plans, and dreams. The future that you had dreamed of and planned day in and day out, is now a distant dream, again. that you painstakingly planned and look forward to may have to be changed. You have to restar right from the beginning your life and this is not what you planned for or even imagined This can affect your self-image. To lose your life’s savings or to lose your income that gave you self-esteem and something to look forward to every day was not a part of your plan to live a fulfilling, happy and healthy There are a number of situations on how does money affect depression. Some of these include:

  • unemployment
  • redundancy or retrenchment
  • redeployment
  • loss of a job
  • large investment losses
  • loss of retirement income
  • loss of investment income.

Chapter 2:

Feelings associated with Financial loss depression

Although we all know there are many things in life that are more important than money. When you are having challenges with your finances fear and stress start to affect you deeply. This can affect your self-esteem and also , make you feel unworthy and fill you with a sense of hopelessness How does money affect depression?. When stress due to money. problems becomes overwhelming, the mind, body, and also social life can pay a heavy price. Money stress often leads to:

Insomnia

When you have financial problems, you might be having difficulty in getting a good night’s sleep.

Weight gain or loss

When you have financial problems, this might cause you to put on extra weight or reduce weight. Stress can interfere with your appetite. It could cause, causing you to anxiously overeat or forego skip meals to save the limited amount of money that you have.

Depression

When you have financial difficulties, you might be this might cause you to put on extra weight or reduce weight.

Anxiety

When you have financial problems, you may feel vulnerable and anxious. You might be worrying about unpaid bills or loss of income which can trigger anxiety symptoms such as a rapidly pounding heartbeat, sweating, shaking, and even causing panic attacks.

Relationship difficulties

Money is one of the issues that couples usually argue about. Financial stress can make you angry and irritable, cause a loss of interest in sex, and wear away at the foundations of even the strongest relationships

Withdraw from society

Financial worries cause you to withdraw from friends, reduce your social life, and retreat into shell, which will only worsen your stress leve

Chapter 3:

Ways to cope with Financial loss depression

A financial loss such as unexpected expenses loss of business can affect us badly, loss of business can affect strike us badly, hard and it will can seem like life will never be the same again. However, there are many ways to cope with financial loss depression. When we look at the longer term instead of just tomorrow and look at the bigger picture and taking one step at a time can help one cope with losses of any kind, including loss of income or business the financial ones.

Do not take any impulsive actions

One of the ways to cope with financial loss depression is not to take any impulsive actions. When we are faced with problems, it is natural to want to take less thought out, impulsive actions to sort these issues out as soon as possible. It is only human to sometimes give in to your feelings and emotions and resort to impulsive actions. , be it to run through all your savings, withdraw all possible investments or mortgage remaining assets.
It is best to know Know that it is not a good idea to take impulsive actions. action in the heat of the moment. Just taking the time to cool and gather your thoughts horses, letting the things and swirling emotions such as anger, despair and unhappiness settle in your head will help you make better, well-thought-out long-term decisions.
Assess the situation with a clear and open mind impartially
After Once you have found a way to manage cope with your emotions, take time to assess take stock of the situation with a clear in a and rational mind manner. Take time to Assess gauge the extent magnitude of the loss, clearly understand what needs to be done it

Chapter 4:

Call to Action

Experiencing Rightly or wrongly, experiencing financial issues problems can make cause you to feel like a failure which can affect and impact your self-esteem. There But there are many plenty of other, more rewarding ways to bolster improve your self-esteem sense of self-worth. Helping Even when you’re struggling yourself, helping others can increase your self confidence and ease stress, anger, and anxiety. Spending Or you could spend time within nature, learning learn a new skill, or enjoying enjoy the company of people who appreciate you for who you are, rather than for your bank balance will help to recover from your loss faster than you thought possible.


"Very practical suggestions" Peter

95 sections

6-Weeks Self-Paced

  • Educational Content
  • Quizzes
  • Self-reflection material
  • Suggestions & feedback
  • Worksheet, tips & tools to use

$9.00 $12.00

25% discount