Financial Difficulties Leading to Depression and Addiction
Financial difficulties are not limited to a particular gender, culture, socioeconomic group or age group. However there are some factors that are often a part of financial difficulties, and these may include the following:
- Overspending – immediate gratification is a common trait for over-spenders; they want something, they want it now, so they get it regardless of whether or not they have the money available. If a person were to force herself to save for this particular item that she wants so much, she may realize that she would not make that type of commitment to the item. If it’s not important enough to save for, is it important enough to get into debt for?
- Credit card debt – another common trait with financial difficulties is credit card debt. This particularly seems to impact late teens and young adults who have not yet been painfully pinched by the interest rates that these credit cards receive.
- Making posttraumatic financial decisions – when people experience something traumatic such as a divorce, death, or even job loss, they have a tendency to make poorer spending decisions. Maybe it is an attempt to boost their spirits or treat themselves to something good; but, these decisions are often quite costly.
- Poor planning – whether it is for your child’s college education or your own personal retirement, people often get into financial difficulty because they did not plan well enough for these events
- Unexpected expenses – no matter how well you manage your finances, there are times that you have unexpected expenses such as significant medical bills, loss of your job, the need for a replacement home or car, or other unexpected large expenses
How Depression and Addiction Work
If you are struggling with financial difficulties, you may be experiencing anxiety or depression. You may have a sense of helplessness or hopelessness, but you want to make every effort to avoid depression. Often people find it helpful to take the following actions:
- Figure out what you need to do to control your financial situation, and write it down
- Brainstorm new or creative ways to changing your spending habits or better manage your income
- Find support from friends, family, social service options or community resources
- Remain confident and hopeful so that you don’t sabotage your own efforts
- Create a plan that consists of many manageable and small steps
- Realize what is important in your life and prioritize these people or activities
Help with Depression and Addiction
If you find yourself struggling with depression and addiction as the result of serious financial difficulties, the last thing you feel you can endure is the expense of a drug addiction treatment program. However the cost of addiction is much higher. We can help you find effective resources and find insurance coverage or other financial options for payment. We are here 24 hours a day, so please call now and learn how you can overcome depression and addiction despite financial difficulties.