Tackling the Problem of Financial Crisis

Do you suffer from money sickness syndrome? Reportedly, this situation afflicts a large percentage of the world’s population. What is it? Dr. roger Henderson, a mental-health researcher in the United Kingdom recently coined the term “money sickness syndrome” to designate the physical and psychological symptoms experienced by people who are stressed with money worries. The symptoms include shortness of breath, headaches, nausea, skin rashes, lack of appetite, unjustified anger, nervousness, and negative thinking. Money worries are a significant cause of stress says Henderson. It should come as no surprise that during recent months more and more people have fallen victim to the ill effects of money related anxieties. The current financial crises in many lands have resulted in the loss of jobs, homes, and personal savings on a global scale. Large financial institutions have collapsed, and even the wealthiest nations have adopted emergency measures to prevent total financial ruin. In the developing world, the rising cost of food and other basic commodities has also caused anxiety. Money woes are also common in times of abundance. During recent years of financial properit, manv people have been plagued by money worries. For instance, a South African newspaper, reported that “a creeping social disease of over-consumption, commercialism and rampant materialism” was spreading in Africa. The newspaper listed some of the symptoms of this disease including stress, dept, waste, overwork, feelings of deprivation, envy and depression. Money was blamed for the ongoing deterioration of the quality of human life in Africa.

Prior to the recent financial crunch, India underwent a period of outstanding economic growth. INDIA Today INTERNATIONAL reported that 2007was a year when the country “fast forwarded to new level of conspicuous consumption.” yet, at the time, officials there were afraid that India’s prosperity would result in increased unrest and even violence. During that same period too, a new generation of young adults in the United States were displaying a propensity for splurging on luxury items. Some researchers have observed that some people are highly motivated and controlled by money. This may lead to stress and neuroticism. In contrast, they added: those who budget their money carefully tend to have internal locus of control and positive feelings toward themselves. They are the masters of money and slaves of money… we assert that those who budget their money carefully may also have lower stress and strain. What is your attitude toward money? How does the volatile nature of the world’s economy affect you? Perhaps you do not experience the symptoms of the so-called money sickness syndrome. Still, whether wealthy or poor, we are all vulnerable to the ill effects of money worries. Consider how adjustments in the way of handle your finances ma bring you more peace of mind and a happier life.