Financial Stress - How It Affects Your Health

Did you know that money is one of the leading causative factors of stress in Uganda today? Yes, opinion polls show that roughly 7 in every 10 Ugandans are “very stressed” about their finances and unfortunately enough, the proportion of people stressed about money is going up by the day. Money concerns can present several challenges to our health like depression (a medical condition where a person feels very sad and anxious) and sleep problems. It is rather absurd that with the rising costs of necessities like sugar, housing costs/rent, fuel, transport, medical charges, and others that we are aware of, many Ugandans are seriously feeling the biting teeth of financial stress. Have you ever met some speaking to him or herself on their way home? That is what I mean by stress. Briefly, anxiety over money can negatively affect health in the following ways:

• Unhealthy Coping Behaviors: People experiencing financial stress can be more likely to numb their anxiety by drinking, smoking, overeating and practicing other unhealthy coping behaviors. This in turn leads to more stress.
• Less Money For Self-Care: With less money in the budget, people who are already under financial stress tend to cut corners in areas like health care to pay for basic necessities like food. Small problems can go unchecked and turn into larger problems. This also leads to more stress.
• Lost Sleep: When under financial stress, people often experience trouble sleeping, which can add up to a sleep deficit, impairing immune functioning and cognitive abilities, causing additional moodiness, and more.
• Unhealthy Emotions: Credit card debt can cause unhealthy emotions that can take a toll on health. People can experience anxiety, frustration and a sense of hopelessness as the debt piles up and increasing amounts of money are needed just to pay the interest. This causes additional stress, which compounds with the stress from poor coping and self-neglect to become an alarming amount of stress.

It’s no wonder financial stress is one of the leading causes of unhealthy families, and poor or envious relationships in our societies. All this has culminated into suicides, murders and low self esteem. On a positive note however, I recommend that if you are experiencing any of the above, visit a counselor for assistance before situations get out of hand.

NDYAGUMA BRIAN

BACHELOR OF ENTREPRENEURSHIP AND PROJECT PLANNING 3

0782 065 238/0702 065 238