Financial stress is making us sick

FINANCIAL stress is believed to be causing mental and other health problems. Data from different sources shows that many South Africans are burdened by high levels of debt and are living from paycheque to pay-cheque.

Myrna Sachs, the head of Alexander Forbes Health Management Solutions, says financial difficulties and mental health problems create a vicious circle.

“Mental health problems, including depression, stress, anxiety and panic disorders, result in absenteeism. Looking after our mental health is, therefore, key to our overall well-being. Unfortunately, financial problems affect mental health.

“Poor work performance has a knock-on effect on promotions and bonuses, which further reduces earnings progression,” says Sachs.

A study conducted last year by Idea, a unit at the London School of Economics, showed that depression costs South Africa more than R232 billion a year in lost productivity. This is a result of absenteeism or attending work while unwell.

Research by EuroMonitor has found that some South Africans are neglecting their eyes to save money.