Adults often get depressed over financial troubles --- whether it's job loss, stock market fluctuation, identity theft or other hardships. News reports feature stories about adults so severely in financial despair that they harm themselves or their family. It may seem like there is no way out, but all situations can be overcome. If depression begins to affect your daily life, it's time to take action to see brighter days ahead.
Get Help
Depression can linger on for several weeks or months. Dr. Bill Knaus of REBT Network says deep depression is often accompanied by anxiety and anger over seeing no way out. If your persona has changed and your thoughts are filled with negativity, it is time to seek professional help, especially if contemplating suicide. Call a crisis hotline or see a psychiatrist or other counselor.
Stay Positive
Negativity only brings you deeper into depression. Surround yourself with positive friends and family as a strong support system. Be thankful for what you do have and commit to changing your life. What's done is done, so sulking and dwelling upon poor decisions from the past is not productive.
Face the Issue
Do not ignore your financial crisis. Be realistic. Assess your situation and find ways to improve. Your problems won't be solved overnight. It takes dedication and patience, but give yourself credit as you take the steps necessary to alleviate financial strife.
Realize You're Not Alone
When times get tough, it helps knowing you're not the only one suffering. There are probably people around the world in worse situations. Each year, nearly 57 million struggle at some point with depression, reports Dr. Knaus.
Join a Support Group
Meet with others who are also going through or have dealt with financial difficulties. It is comforting to discuss similarities and share emotions with those who know exactly what you are feeling.
Slowly Relieve Debt
Look for ways to save money. Go out to eat less, eliminate impulse buying and cut unnecessary expenses. Use cash instead of credit cards. Those who pay in cash spend an average of 12 to 18 percent less than credit card payers, according to the Maryland State Bar Association. Ask creditors to lower your interest rates, and don't be afraid to seek counsel from a financial planner, debt consolidation company or bankruptcy attorney. The sooner you get back to work, the better. Seek a new job or take on a second one to earn more money. It may take some time, but stay hopeful and don't give up. Take things one day at a time.
Maintain Your Health
Exercise, remain active and get adequate sleep. Dr. Knaus cites Duke University studies that reveal exercise is just as effective in lowering depression as antidepressants. The doctor also recommends eating more fish and other foods high in omega-3 fats to lower some types of depression.
Remain Social
Relax and do things you enjoy to briefly take your mind off of finances. There are plenty of activities that don't require money. Whatever you do, avoid turning to alcohol. It will only make your financial and emotional situation worse.
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