International Day of Happiness is celebrated tomorrow (20 March), a global initiative that aims to promote and spread awareness about the importance of people’s happiness.
The United Nations’ World Happiness Report is also released tomorrow, and South Africa is expected to rank 100 out of 180 countries on the Happiness Index, showing a decline in last year’s ranking of 105th out of 156 countries.
Being on the lower end of the Happiness Index does make sense if taken into account that South Africa is also one of the most over-indebted countries in the world, with over 12 million consumers struggling to make ends meet and keep up with their debt repayments.
“As a leading debt management company who is assisting thousands of consumers with their debt enquiries, we know that debt is more than just a money issue – being over-indebted can lead to a number of emotional and physiological issues,” says Benay Sager, DebtBusters’ Chief Operating Officer.
“People who are struggling to pay off their debt are more likely to suffer from mental health problems, including anxiety and depression. Furthermore, those who are in denial about their financial situation often lead themselves deeper into debt by rationalising purchases that do not fit into their budget, and falling into the trap of using one loan to cover another loan, which can lead to their debt situation spiralling out of control.”