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Financial Planning: Effective Antibiotic for your psychological health by Oyedamola Taiwo




Depression is a rampant epidemic that has established its root in our society unnoticed. We have heard of suicidal attempts and eventual executions. Many have been in a bad mood at one point or another and were able to walk through it because they found a solution, that’s the lucky group! We have some other set of people who relished in their horrible conditions till it aggravated into a mental disorder that ultimately suggests the suicide option. There are many causes of depression but all are primarily linked to a need-gap left unfilled; the need for self-actualization, the need for success, love, acceptance and so many others.

Needs-met is a result of resource availability. Resources can range from people, to location, material things, information and money. Yes, Money! Let’s talk about Money. Whether we like to accept it or not, money provides access to many things that we aspire for. In economics, we describe money as a transaction facilitator. Life is a transaction, we exchange value, we exchange emotions, we share ideas, we exchange properties, we change location. Economically, the primary purpose of money is to eliminate friction in transaction and make easy the transfer of value.

You might have prioritized building networks above finances, well you may be right. But, remember, great networks are not picked on the street sides. You need to go to certain places, attend certain conferences and meetings to meet some kind of people. Most of these things are not free, you have to pay! Recreation feeds your emotional and psychological well-being; you need to pay if you are really going to enjoy the fullness of it. If you are a lover of nature like me; you want to see the high mountains, a wide expanse of well-trimmed grasses and a feel of the cool ocean breeze with a perfect view of the blue clouds. Then, you have to make plans to step out of your busy work area to where you can find them; this has financial implications too!


You will have less worries when you can easily access the things you desire and you are less likely to be a victim of depression. Many young people slide into depression because of the feeling of inferiority, “I can’t buy, wear, eat, use what my mates are using”. Well, I am here to tell you that you can if you become astute in planning. Look at your need and your broad desires, identify your priorities, attach costs to them, look at your current income, make plans on how to multiply your income to meet your expensive desires. Then Bingo! You have it. if you need details on how to plan your finances, I will recommend you read previous posts.

You are less bothered about things when you are conscious of the fact that you are moving towards it every day. I will end with an example we all know, if Nigeria were to be human, she would have been so depressed by now, Nigeria have had interesting projections about it. In fact, I was expecting that by 2020, a lot of mighty turn-around would have happened because of the strength in the declaration of vision 2020;20 but here we are in 2019 with ancient challenges. Nobody achieves anything by merely wishing it or being sad about it! You get what you plan and work towards.

Avoid Depression, Start Planning!!

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