Depression Can Be Expensive, Here's How

Few people need any further convincing that depression can be a terrible weight to live with. The changes it can make in our self-image, our relationships, and how we cope with the challenges life throws at us is not to be understated. However, there is one cost of depression that isn’t considered quite as often as it should be. We’re talking about the financial costs of depression. Here, we’re going to look at how depression can impact your finances, and whether you can do anything to help avoid it.

Getting help

For a lot of people, getting any kind of treatment in the world of healthcare can hardly be called cheap. When you look at the monthly costs of treating depression as shown at Everyday Health, you can see a range of monthly costs of treatments, with and without insurance, as well as the costs of additional treatments that many living with depression have stressed can be helpful. Besides medication, it’s not uncommon for people with depression to seek relief from things like aromatherapy, massage therapy, yoga, and so on. We can’t easily cut the costs of treatment from our life, so it’s important to learn to budget around these where possible.

The impact on your work

Depression can impact how we cope in many different spheres of our life. It should be no surprise that it can make a difference in our professional lives, as well. Many people suffering from depression experience an opportunity cost: because they’re not able to put the energy into their work that they normally would, they don’t see their career go as far as soon as it would otherwise. That cost can be hard to measure, however. Another cost is that of having to take time off work, which is not uncommon. Long-term disability insurance could potentially help those with depression take the time they need without decimating their income. However, it should be noted that some insurance companies tend to argue the validity of mental health leave, so see Darras Law today about what that can entail.. The stigma against people suffering from depression and other emotional health problems is still very alive and real, unfortunately.

The costly coping mechanisms

This is not true of all cases, but depression has been linked to the adoption of unhealthy lifestyle habits. Some of these habits, like smoking or drinking alcohol, can start becoming a serious drain on your finances. What’s more, they are toxins that should be avoided if you want to improve your mental health. Instead, try finding more healthy habits that can just as easily help you with depression, such as taking up yoga or joining an exercise class.

When you’re coping with depression, it can be hard to get the energy to make the changes and plans that can help you live a better life. However, it’s recommended that you try out a budgeting app if you’re struggling at the moment, which can help you cut down your everyday expenses with little effort.