I hate to be the Debby downer here, but we cannot ignore the signs of recession anymore; lost homes, retrenchments and expensive consumer goods are just some signals of things gone awry for most of the population.

Health experts are warning that if the current financial crisis continues we will see and escalation of anxiety, drug abuse, blood pressure, ulcers and other health problems that were uncommon in the past. You might not see the connection but we are here to lay down the facts in layman terms so that you are in a position to safeguard both your financial and physical health.

If you are suddenly sacked and plunged into a world where everything is expensive the odds are that you will turn to debt but that is the worst thing ever. Paying for everyday things with a credit card or borrowed money starts you off in a rat race you are unlikely to win. You will eventually be caught up in a vortex of depression but it doesn’t end there. Your children will start seeing the signs of your financial situation which will cause them stress as well. Adults have been found to be more susceptible to mental health issues if they suffered financial adversities.

These facts are very scary but with a little effort you can safeguard your money for the unknown future:

  • Start by opening a savings account with your bank so that you can put away some money for investment or school fees.
  • Few of us ever consider it but insurance is the best way to protect you against the odds. Different companies offer unique policies and it is your duty to find one that can protect you against loss of your income. Dedicate yourself to paying the premiums so that when the inevitable happens they are able to protect you and your family from a financial crisis that leads up to dreaded health problems.

Ignoring the need for financial health among individuals is a step in the wrong direction for people who want to live long happy lives. By learning how to save, invest and insure your income you can avoid becoming one of the people who never recover from a recession.

 

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