Connecting the body, mind and bank
JOBURG - Gerald Mwandiambira, a certified financial planner, highlighted the link between physical and financial health, and how one's physical health often mirrored financial health.
“For people coping with existing health problems, financial and interpersonal stress can exacerbate their conditions,” he said.
Mwandiambira added that this was often the reality for many South Africans, whose financial situation remained the main cause of their daily stress.
“Stress related to finances, often [comes] because of the inability to manage debt, lack of savings and a lack of provision for children’s education.”
Mwandiambira added that stress could lead to many severe illnesses such as depression, anxiety, migraines, high blood pressure and heart disease.
“It can also stimulate unhealthy coping behaviour like drinking, smoking and overeating and this, in turn, leads to more stress when you consider such negative coping behaviour,” he said.
The financial planner offered tips to consumers on how to recover from this stress, saying that a better diet made a difference, but also a continued review of finances was necessary.
Furthermore, discipline and commitment were also listed as necessities to good financial health and physical recovery.
Mwandiambira concluded by advising consumers to get help from a certified financial planner, saying that a variety of services were available to help with dealing with financial issues.
“Some [planners] offer low-cost or even free assistance through financial literacy outreach programmes such as the Financial Planning Institute’s MyMoney123 service,” he said.
Details: www.fpi.co.za; 086 1000 FPI (374); 011 470 6000.
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*Article first published in 2015
