Debt And Depression Hurting SA
Many South Africans are living with debt. The weak currency coupled with political instability has resulted in some tough times for South Africans. Rising fuel costs mean it costs more to get products from A to B, this cost gets passed down the line to the consumer who has no choice but to pay. Although the cost of living is growing, many South Africans have kept their quality of living much the same as before. Where is the money coming from?
South Africans are combatting the high cost of living with loans, credit cards and store cards, in order to make ends meet.
This can result in psychological pressure. There are many factors contributing to depression, though there is no exact known cause. It can be biological, hormonal, genetic or attributed to medical illness or recreational drugs or medication. Numerous studies have also linked psychosocial factors with depression, including stress related to major life events such as the loss of a loved one, troubles with family, or financial concerns.
Research has shown that financial instability can not only lead to depression but can further negatively impact the economy as a result. South African debt review conducted a “wellness survey” on the health and habits of over 2000 people. It found that 71% of people surveyed said financial stress influenced their overall health, 65% of people were more stressed as a result of money worries, and 87% of respondents said they felt “tired for no reason, worried and depressed” because of debt.
According to the South African Depression and Anxiety Group (SADAG), depression affects one in four South African employees.
About 400 million people around the world suffer from mental or neurological disorders, or from psychosocial problems, according to the South African Department of Health. These kinds of disorders range in severity and include disorders related to alcohol and drug abuse, acute stress disorder, panic disorder, depressive disorder, bipolar disorder, dementia and Alzheimer’s, to name a few.
We can help if you suffer debt depression. SA Debt Review is an NCR Registered Debt Counselling Provider, registration number NCRDC773. Above all, we offer a more affordable way to restructure your debt into one lower instalment. We will also stop Legal Actions & Repossessions against your name.
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