I believe I’m fairly fortunate in that I’ve only been depressed a few times — maybe once or twice in my life. (And by depress, I mean seriously depressed that it affected my daily life.) So perhaps I’m not exactly a good example, but my point is that I have never been depressed about my personal finance before.

For my regular five readers, you would remember that I was in debt (only about 10k). The debt certainly gave me stress and anxiety, but it never bother me enough to cause depression.

I was talking to a friend over the weekend and long story short, he was seriously depressed about his finances. His debt is getting out of control, he worries about making ends meet, and he feels entirely overwhelmed and powerless.

Things brighten up a little bit after we talked for a bit and I shared my experiences and he shared his… but of course as anyone with debt knows, the concepts in reducing the debt is simple enough, while accomplishing it is another story.

Have you ever been depressed due to your finances? What did you do about it? How did you get out of it, or are you still in it?

Although I was depressed due to a completely different matter, I’m fairly certain depression can be alleviate (if somewhat) by opening up to people that care about you. Certainly, bottling it up all inside and dealing with it alone is not a solution in getting out of a depression.

Depression from finances does have a sore point — no matter how much you talk to someone about it, it probably won’t fix the underlying problems until you start taking action to repair or amend the financial problems.

Tough situation, I’d say.