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What are the harms of financial losses in personal life?

Started by : Leena Khade, Banc Assurance, Deutsche Bank   02 16 2011 06:04:48 +0000
Industry : Private Banking/Wealth ManagementFunctional Area : Personal Finance(Personal Interests)
Keywords : finance life loss psychology harm financial loss
Activity:  22 views;  last activity : 02 21 2011 08:07:05 +0000

In a calculated move to get financial support from his family, a man allegedly murdered his only child !! Rakesh Kumar a resident of New Delhi had incurred loss in business and he took this extreme step. Police has already arrested him. Such incidents do happen in our society. Some people kill there children and commit suicide and then there are people like Rakesh Kumar!! What do you think makes people act worst than the beasts? How losses in business ruin persons mental health ? State the reasons. What are the harms of financial losses in personal life?
 
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1 2 3 4 5
1 Psychological harm
2 Changing Lifestyles
3 Strained relationships and relationship problems
4 Effect on mental status and loose confidence
5 Immoral Materialistic LIfe
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Psychological harm

idea posted by Leena Khade Banc Assurance, Deutsche Bank

This is the first thing which happens. A person looses his ability to understand what is rational and what is not when the financial strain increases. This makes him take unimaginably wrong steps about which he might never think of in his weirdest of dreams.
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by CHANDRASEKAR C P, PROJECTS ENGINEER, QATAR GENERAL ELECTRICITY AND WATER CORPORATION  | 02 16 2011 08:51:10 +0000

Yes I agree the psychological harm is the most likely harm when one is affected by financial losses, it ruins the entire family.

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by sanjay , Regional Head - North India, networth stock broking ltd  | 02 16 2011 06:32:30 +0000

it is all got to do with the pressures of modern life and the inflated cost of living

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by Tanima , First Medical Services Pvt. Ltd.  | 02 16 2011 06:20:53 +0000

I totally agreed with this. Peoples loose thier confidence, they depressed and they did not take proper decision. So I thin Psychological harm is the most crucial harm. U can not easily come out from that harm. It will take a sufficent time. It harms the whole family.

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Changing Lifestyles

idea posted by Suryanarayan Murthy Asst Vice President (Corporate Finance), A Hydro Power Project
I agree with you Leena. Have you heard that a person killed a child for money in Hyderabad to buy a gift to his girlfriend on Valentaine's Day ? Killing somebody, particularly women and children, has become common now-a-days. Aspiring high lifestyles, living beyond one's own means are pshychological related. The changing culture from Indian to Western is also a contributing factor.
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Strained relationships and relationship problems

idea posted by Sony G.Tharakan Human Resource Executive, DCKAP Technologies
In addition to the above problems financial losses can cause relationship problems also as in family relationships,friendships,business relationships etc
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Effect on mental status and loose confidence

idea posted by Virag Shah Confidential
In this situation, people require support, motivation, co-operation to recover.
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Immoral Materialistic LIfe

idea posted by Basant jhunjhun wala Senior Sales Manager jjwbasant@rediffmail.com
Cause of his irrational behaviour has been in the society from a long due to lack of Ideals, thoughts ,vision and culture.The learnings bestowed to an individual from family,teacher's,society,literature and celluloid all are missing.Only the dream to do big and to become bigger is the only aim of the so called advanced world these days.Only to achieve the ultiamate end blinds an individual without thinking of the consequenses.WHAT A DRASTIC MAYERIALISTIC LIFE?????????????????
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