Financial challenges can push individuals into deep emotional and psychological turmoil. Actor Rashami Desai recently shared how she hit rock bottom after purchasing a house and taking on a massive debt of ₹3.5 crore.
In an interview with Brut India, she revealed, “I had bought a house and I had a loan of 2.5 crore on me, and apart from that I remember having a total debt of around 3.25 to 3.5 crore. I felt that everything was fine, normal… my show came to an abrupt halt.”
She continued, “I was on the streets for four days… I had an Audi A6 in which I used to sleep. I had stored my belongings at my manager’s house, and I completely distanced myself from my family.”
Desai recalled that she ate rickshaw drivers’ food worth just ₹20 from plastic bags and would sometimes find pebbles in them. “Those four days were very difficult in my life. I realised that I haven’t even thought about myself. I got so caught up in everything that I forgot about myself.”
The actor continued to talk about how all her relationships took a backseat. “I got divorced, then with my friends, they thought that I was very difficult as I didn’t express much, then my family thought that all my decisions were wrong.”
She developed psoriasis, which significantly impacted her self-esteem as she experienced severe hair loss and substantial weight gain. These physical changes further compounded her challenges, deepening her sense of distress.
Her story is a stark reminder of how unchecked financial commitments can snowball into overwhelming stress, impacting mental well-being and everyday life.
Gurleen Baruah, business psychologist at That Culture Thing, tells indianexpress.com, “Begin by grounding yourself. Recognise that while the crisis is tough, it is not permanent. Avoid falling into self-pity or catastrophising; instead, focus on problem-solving.”
She adds, “Start by assessing your safety net — savings, insurance, or resources like family support—and make peace with the fact that asking for help is not a sign of weakness but a step toward stability.”
Psychologically, Baruah states that it’s vital to maintain a sense of agency. “Financial stress can create a feeling of helplessness, which may lead to avoidance behaviours like ignoring bills or procrastinating on taking action. Break this cycle by creating a clear picture of your finances: list your income, expenses, debts, and assets. This might feel daunting, but knowledge is power — it’s the foundation for making deliberate decisions rather than reacting out of fear.”
Engage in mindful spending, prioritising needs over wants, and reframe budgeting as a tool for control, not deprivation. Spending less isn’t just about survival; it’s a way to regain control and create breathing space.
Baruah adds, “Tap into behavioural insights as well. For instance, set small, achievable financial goals to create momentum, whether paying off one bill or saving a modest amount weekly. Leverage loss aversion by reminding yourself of what you stand to gain by cutting expenses or finding additional income sources.”
Importantly, avoid ‘doom loops’ — those repetitive, self-critical thoughts that sap your energy. Replace them with constructive action: renegotiate debt, take on a side gig, or consult a financial advisor for clarity. These steps, no matter how small, help rebuild confidence.
“Finally, keep your long-term vision alive, even amid a crisis.,” notes Baruah. Think of this period as a reset — not just financially but mentally. Use it to reevaluate your relationship with money, build healthier habits, and commit to future financial resilience, whether through creating an emergency fund, obtaining proper insurance, or diversifying income streams. A financial crisis may be challenging, but with emotional steadiness and thoughtful planning, it can become a transformative chapter rather than a defining one.
