World Health Day – Is Depression taking a toll on your health and wealth?

7th April 2017

April 7th is World Health Day, a global health awareness day observed under the auspices of the World Health Organization (WHO). This day has a lot of importance for all things related to health – body, mind, soul and yes, even your finances.

WHO has designated #Depression as this year’s theme for #WorldHealthDay.

WHO’s estimates reveal that over 300 million people are suffering from depression globally, an 18% jump between 2005 and 2015. Depression is a leading cause of ill health and disability worldwide. In extreme cases, it leads to suicide, which has been one of the rising incidences in the country. Main reason why depression isn’t talked about as much as other illnesses, is due to the stigma linked to the disease and poor support from the social circle. This prevents patients from seeking help, which further aggravates their sufferings.

Depression-like symptoms in your finances

Chateshwar, a 35-year old private sector professional, is good at his work. He has two daughters and his wife is a homemaker. What keeps Chateshwar up at night and stressed at work is the thought of providing for his family over the long-term, especially when he is no longer around. Among other must-do’s, Chateshwar aims at achieving the following for his family:

  1. Providing best-in-class education for both his daughters – one aims to become a lawyer, while the other dreams of becoming a heart surgeon
  2. Marriages of both daughters
  3. Covering the outstanding EMIs (equated monthly instalments) on the home loan that he recently took
  4. Providing for family’s financial security in his absence

As is evident, there is a lot on Chateshwar’s plate. But stressing over it and showing depression-like symptoms at work is hardly the answer. Fortunately for Chateshwar, his financial planner Lokesh has some fitting solutions for him.

Finances: Let’s tal