Drowning in debts is one of the leading causes of depression in Botswana, to the extent it causes some people mental disorders.

This is why it is advisable to use money wisely and within budget, advises Oarabile Tuelo, Director of Raycheque Holdings, a company that specialises in debt collection.

Batswana usually spend money without considering the future when the year draws to a close. Tuelo advises it is important to always have monthly budgets and spend money within the budget. Failure to budget, she said is what throws many people off.

“Getting out of budget leads to debt and after messing up, such people become arrogant and others petty. It can even get worse to a point that some become thieves or turn to prostitution thinking it will be a way of recovering monies they lost.

“However, for those selling their bodies because they are in debt, they end up sick and miserable while thieves get locked up in prison,” she warned.

They have dealt with many cases in which some people completely lost it. Some developed mental disorders and ended up committed to psychiatric hospitals.

Tuelo believes that it is possible to lead a debt free life or at least have a life where one has manageable debt.

But firstly, one has to admit that they have a financial crisis and start by seeking help. Opening up to family and friends or even financial advisers about the problem is a step in the right direction. Speaking out she said, is the very first step of dealing with the problem.

Then after looking at all possible ways of dealing with the debt, one can start by paying any little amount they can afford.

“One bite at a go can kill an elephant. There are many options to look into such as selling your assets, consolidating your debt or taking a loan. However, before jumping into taking a loan, take into consideration how much you need and what you can afford,” she said.