BASICS: How To Handle Financial Stress During Covid 19 Lockdown

You can handle your financial stress always PHOTO/

By SMN Admin

KAMPALA, UgandaSHIFTMEDIA– As the country continues to be dogged with lockdown due to Covid 19 pandemic, the economic hardships are biting in every household.

Even the wealthy, who used to fly every week or monthly for holidays, shopping or treatment abroad, can no longer enjoy their cash due to travel restrictions. In short,,  we are all hard hit.

Scores of Ugandans are experiencing financial stress. Domestic violence and mental health issues due to financial stress are on the increase.

The weight of financial stress is giving me sleepless nights. This was not the case before Covid 19 struck, even affording a meal is a hurdle.” Rita Namubiru a trader in downtown Kampala.

The experience that Namubiru is going through is what many are going through at the moment. Especially this second lockdown (42 days) that is not clear whether it will be extended after it ends in about a weeks’ time.

But amidst all these hardships we must learn to survive, no matter what. There are several ways you can overcome your financial stress as an individual.

According to Danetha Doe, a financial wellness educator and creator of Money & Mimosas, you need financial wellness to elevate your financial health.

Are you financially copying or financially vulnerable? According to the recent survey by the Uganda Bureau of Statistics (UBOS) over 70% Ugandans fall under this category.

Danetha Doe notes that one falls under the above if they are struggling to spend, save and borrow.

“You don’t need research to prove that struggling financially causes harm to your financial health and creates financial stress,” says Danetha.

She told  that no research is needed to prove that financial struggles, and stress, have a direct impact on your physical, mental, and social well-being.

How to cope 

As an individual, Danetha says you need to explore new mechanisms of calming down your anxieties. Tips such as having meditation, exercising, a reading a book is necessary. Making your brain busy during this lockdown will help you avoid mental health disorders caused due to lack of money.


According to Danetha, it is very important to practice “retail therapy”. Spend only on what is necessary. The needs versus the wants aspect.

The few Ugandans who are still employed and earning salaries can try the ‘earned wage access” where you ask your employer to pay your salary before the month ends so as to address emergencies.

It is also important to be mindful of how you spend. Avoid financial anxiety, especially when purchasing. Don’t make unconscious money choices.

Every time you bring awareness regarding how you spend your money, you learn to reduce spending recklessly.

Finally, it is vital to budget for every coin you intend to spend. Also, have some emergency funds always. It will sort you out when you are financially down.

Shift Media News

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