Insurance
The state of South Africans’ mental health
Fifty-four per cent of South Africans are unable to make their money stretch to month end and this is impacting their mental health. These are recent statistics from the Sanlam campaign Letter to My Pre Covid-19 Self conducted through a survey of 1 200 South African respondents by Ova to You.
It is imperative to make the best possible financial decisions in very trying circumstances. The survey was aimed at determining what respondents wish they’d known or done before Covid-19.
Covid-19 has taken its toll on most, if not all, of us and might also have impacted our mental health. We’re likely to keep seeing this impact for years to come. The survey showed that above anything else, most people wished their pre-pandemic selves had saved more, highlighting the impact money has had as a stressor on our mental well-being.
key findings
Some key findings from the survey show how South Africans are feeling currently in comparison to what they wish they could write to their pre-pandemic selves:
stats
It was found that during the pandemic 21% of the respondents went on prescription medication to help with stress and anxiety. In addition, 21% invested in online and physical exercise options that were available. Twelve per cent sought counselling or therapy, while others started taking health supplements and turned to natural remedies, along with meditation and mindfulness.
Post-pandemic, about 35% of respondents said they now always make time for self-care by prioritising their physical and mental well-being. Most of these are younger men with an income of less than R10 000 a month. Close to 59% said they make time when they can (likely to be older: 40+ years), and 6,7% said they never make time for self-care.
feedback
Some of the responses to the question of what they’d write to their pre-pandemic selves about what they’ve learned about their well-being were the following:
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Most respondents wanted to tell their pre-pandemic selves to take time to enjoy the simple things in life and the moments with loved ones, as well as to manage their finances better and start an emergency fund.
It’s evident that financial stress has a mental and physical impact on our well-being. Therefore, it is important to speak to a financial adviser about tools to help you come up with an achievable holistic plan. We also want to empower South Africans to pursue their goals and make smart money decisions to live their best lives. We have financial advisers available to help you make the right decisions for yourself and your loved ones.
Sanlam Limited is the Licensed Controlling Company of the Sanlam Limited Insurance Group.
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