According to the National Institute of Mental Health, one in every eight women will suffer from depression at some point during her lifetime. Plus, women are 70 percent more likely than men to experience depression during their lifetime. The causes of depression can stem from many places including the death of loved ones, unemployment with the inability to find new work, the end of marriage in divorce, and of course, debt.
Being broke, in debt, and unemployed can lead to depression. The numbers are against us. In August 2012, one in every 681 housing units in the US received a foreclosure filing. Since the financial crisis in 2008 when 8.8 million jobs were lost, only about 3.8 million have been added back. With piling debt, mortgage rate adjustments, and growing credit card balances, personal situations can seem dire for some. Some may even think about death and committing suicide. When you are depressed, you don’t think logically and therefore, you may find yourself thinking there is no way out.
While white women experience depression more often, black women experience greater severity and persistence of depression. This could be because of a combination of societal and biological factors. From a social aspect, black women are faced with stress related to racial discrimination, low socioeconomic status, and raising children alone. From a biological aspect, black women face high rates of health problems such as hypertension and cardiovascular disease, according to Annelle Primmn, M.D., M.P.H. All of these factors can lead to depression, but because the Black community has a strong bias against mental health treatment, black women are less likely to seek help.
If you suffer from any one of these symptoms, thoughts of suicide, inability to eat or make decisions, or have a hopeless outlook on life or your current situation, then it may be time to seek out help for depression. Always check with your doctor to determine if you suffer from depression.
My mission, my goal, my purpose is always to give you wealth-building skills. These wealth-building skills don’t always come in the form monetary investments, but investment in oneself. If you are healthy, the road to financial recovery is just ahead.