If you were feeling a little more of the Monday Blues than usual last week, a British psychologist might have the reason why.
In 2005, Dr Cliff Arnall, a former Cardiff University professor, drew up a pseudo-mathematical equation taking into account factors like Christmas debt, the time since your last pay cheque, your post holiday blues and the standard Monday morning blues to prove that Monday would hypothetically be the most depressing day of the year.
Since that hypothesis, Arnall has dismissed the notion as a self-fulfilling prophecy, which was put together as part of a PR practice for a travel company.
But there might be some merit to this seeming madness, especially when it comes to personal finance.
There are a number of factors which could have contributed to Monday being the most depressing day of the year.
Dr. Arnall’s theory uses things like body image, the cold climate in the Northern hemisphere and the likelihood of having broken your first New Year’s resolution, but there are a number of other factors which could have made Monday a tough day for South Africans.
By now most people have returned from vacation and they are feeling the post-holiday blues.
Another big contributing factor is the fact that that it’s been a while since we’ve all received our last paycheque.
Most companies pay their employees in December so everybody has to stretch their budgets in January.
Coupled with this, credit card bills from the festive season are starting to arrive and if you over indulged over Christmas, it’s likely that the ‘New Year Depression’ will have hit since the prospect of starting the New Year over indebted could be overwhelming for some.
The good news is that there is light at the end of the tunnel. He believes that by making financial resolutions, you can get yourself out of rut you are stuck in.
The New Year will bring policy renewals for insurance and medical aid, but why stick with more of the same?
Be proactive! Try negotiating a new and better rate with your providers or actively compare quotes on sites like Justmoney.co.za.
You might even be able to get a better bond. No matter how small the amount you save, it’s just one step closer to getting back on the right financial track and beating down the financial blues.
<
em>Andy Gilder is general manager of Justmoney.co.za,
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