As we near the end of an­other fi­nan­cial year, it is time to pause and see to it that money does not stress us out

Hindustan Times (Chandigarh) - City - - Lifestyle - Su­san Jose su­san.jose@hin­dus­tan­times.com

The Union Bud­get was re­cently an­nounced, and while it has its pros and cons, there is one un­der­lin­ing fac­tor that al­most every­one would agree with — money is a big cause of stress for many.

“Wor­ry­ing about money can take a toll on your men­tal health. Peo­ple suf­fer­ing from fi­nan­cial prob­lems are three times more prone to men­tal is­sues. They are at greater risk of de­vel­op­ing de­pres­sion and psy­chotic ill­nesses. They may in­dulge in al­co­hol and sub­stance abuse or be­come prone to com­mit­ting sui­cide,” says city-based psy­chother­a­pist Neeta V Shetty.

Money-re­lated is­sues do not arise only when you are sink­ing in debt. They may show up in sev­eral other forms too. For ex­am­ple, some peo­ple may work mul­ti­ple jobs not be­cause they need to, but out of the sheer thrill of get­ting paid more.

Namrata Da­gia, clin­i­cal psy­chol­o­gist, ex­plains, “Spend­ing money reck­lessly, be­ing miserly, and try­ing to get some­one else to pay bills — such be­hav­iours in­di­cate that a per­son may have fi­nan­cial is­sues.”

Peo­ple with fi­nan­cial dis­or­ders show self­de­struc­tive and self-lim­it­ing fi­nan­cial be­hav­iours. A few of the broad cat­e­gories are: 1. Money avoid­ance dis­or­der: Peo­ple suf­fer­ing from this, tend to ob­sesses about money. They are ex­ces­sively risk averse and live in fi­nan­cial de­nial.

2. Money wor­ship­ping dis­or­der: They are prone to patho­log­i­cal gam­bling. Peo­ple suf­fer­ing from this dis­or­der are worka­holics, spendthrifts, and tend to hoard things, and buy com­pul­sively.

3. Re­la­tional money dis­or­der: This dis­or­der is mostly seen in re­la­tion­ships, where peo­ple are fi­nan­cially de­pen­dent on each other. An ex­am­ple of this is adults who are fi­nan­cially de­pen­dent on their par­ents. Fi­nan­cial cheat­ing (ly­ing about where or how the money was spent) is com­mon in peo­ple suf­fer­ing from this dis­or­der. Ex­ces­sive giv­ing — buy­ing what­ever a loved one (spouse, kid) asks for in or­der to keep them happy in the re­la­tion­ship — is also an in­di­ca­tor of this dis­or­der.

“In ex­treme cases, in­di­vid­u­als could be bipo­lar, but their loved ones may not no­tice it. Be­cause they do not act crazy in the typ­i­cal sense. All they do in their hy­po­ma­nia or ma­nia is gam­ble or make rash mon­e­tary de­ci­sions, which may in­clude huge in­vest­ments, buy­ing lav­ish gifts or get­ting into un­prof­itable busi­ness deals,” says Shetty. Peo­ple with low self-es­teem and self-con­fi­dence may also seek com­fort in money and are at risk of be­ing per­pet­ual debtors. For ex­am­ple, they may shop to feel bet­ter about them­selves.

Peo­ple who grow up lack­ing fi­nan­cial se­cu­rity, de­spite be­ing suc­cess­ful adults, tend to be ex­tremely care­ful with their money. They may even be overly care­ful to safe­guard or in­vest their earn­ings.


Money should be used for all your needs and some leisure. While spend­ing money on leisure, it is im­por­tant that you spend it wisely. Pam­per­ing your­self at a sa­lon, go­ing for movies, ex­plor­ing new restau­rants or any­thing that makes you happy, are things that you should spend on. The only time your alarms should go off is when you are spend­ing more than you are sav­ing.

It is also im­por­tant to re­mem­ber that in the race to earn money, you shouldn’t ne­glect the valu­able things in life such as spend­ing qual­ity time alone as well as with fam­ily. Strik­ing a bal­ance be­tween work, fam­ily and so­cial life is very im­por­tant. Each fam­ily should sit down to­gether for one meal, no mat­ter how busy a mem­ber is. Such small acts lead to co­he­sive­ness and feel­ings of love and se­cu­rity for both the bread­win­ner and the other mem­bers of the fam­ily.

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