Money is a complicated creature. Most people want more of it, even those who are already rich. Witness those fallen Wall Street titans, whose hunger for outsized bonuses has helped bring the world economy to its knees. As we report in our Life section today, overseas psychologists and financial therapists have found that many people who have money are stressed by it.
Money disorders, if it is to be believed, are becoming accepted as mental illnesses or recognised behavioural issues. Overspending, underspending and hoarding are all symptoms. But there are also more exotic categories, known as financial incest and cheating. One apparently has to do with using money to lord it over your relatives; the other is about spending money and not telling your spouse about it. While some may well benefit from such therapy, alarm bells about psychobabble should ring as soon as these terms are mentioned.
Back in the real world, many more people are facing severe problems, such as losing their savings, home or job, in the global financial crisis. Their means to a viable retirement and their children's funds for university are being destroyed before their very eyes. They need all the help they can get.
The Hong Kong government announced yesterday it is funding two volunteer groups to set up financial-crisis hotlines to help people cope. The Tung Wah Group of Hospitals' crisis centre and Caritas's family crisis support centre have a lot of experience dealing with people and families under emotional stress. The hotlines will be manned by registered social workers around the clock. Appointments may be made for face-to-face counselling and support groups. This is a sensible step.
In this difficult time, our community needs to pull through together. We managed to survive the Asian financial meltdown and showed remarkable solidarity during the Sars outbreak. The latest crisis is likely to be a severe test for many people. There will be a need for the community to demonstrate similar resolve. But we have shown in the past that we can come through hard times and be all the stronger for it.
