If you are struggling with depression or other mental health issues, you may not know how debt can harm your overall wellbeing. But it’s true: 1 in 4 people with depression and 1 in 20 people without any mental health issues are in problem debt. Having problems with finances and staying at work are common symptoms of depression. In this article, we will discuss how debt destroy our mental health.
Stress
If you are struggling with overwhelming debt, you should take a moment to assess your situation. If you are struggling to make ends meet, you must look at your mental health. Financial stress can affect your overall health, making you feel hopeless, depressed, and even anxious. To overcome economic anxiety, you must learn to cope with the feelings that can accompany this stressful situation. This article will explore some of the most common symptoms and how you can overcome them.
National payday loan relief said, people overwhelmed by debt are more prone to phobias, panic disorders, and generalized anxiety disorder. These conditions can lead to physical ill-health and even premature death. An example of how debt can cause physical damage is a study of older Americans that bridged the Great Recession. These subjects were monitored for five years and examined for biomarkers indicating the stress response. Those with phobias showed the strongest correlation with financial stress.
Anxiety
While carrying debit and worrying about collections can be expected, these issues can also lead to more severe problems. Many graduate students and others with debt report feeling overwhelmed and anxious about their financial situation. A recent study by the American Psychological Association shows that people who suffer from debt are more likely to report having problems with anxiety and depression. A high debt-to-asset ratio can even contribute to these conditions. Fortunately, there are ways to deal with these problems and reduce the stress they cause.
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Many professionals recommend getting help for depression, anxiety, and other mental conditions. There is a vast range of treatment options for both problems, and finding the right one is crucial. According to Dr. Thomas Richardson, a clinical psychologist, the relationship between debt and mental health is complex. Various factors may contribute to anxiety and depression, including erratic employment. However, a depleted mental state can negatively affect day-to-day life, reducing the ability to concentrate and take action on financial matters. Consequently, it is essential to seek help before the problems become worse.
Depression Debt affects many people’s mental health in short and long-term ways. According to Amy Morin, a licensed psychotherapist, four-time author of books on mental strength, and editor-in-chief of the Very Well Mind, higher debt levels increase depressive symptoms and perceived stress. In fact, for every ten percent increase in debt, depressive symptoms worsen by 14 percent. While it’s unclear whether the debt is a primary cause of depression or a sign of depression, it is essential to know how to manage your finances.
If you find yourself in a situation where your finances are out of control, the best way to deal with them is to face them head-on. This is not always easy – hiding your head in the sand will not solve your problem. It can be challenging to control your anxiety – and full-blown panic attacks can make work and social activities impossible. Furthermore, the shame associated with debt keeps people from seeking help. Moreover, people buried in debt don’t have time to engage in social activities, which contributes to loneliness and depression.
High blood pressure
The stress caused by high debt levels can negatively affect the body. Whether you are a high-stress consumer or have a chronic condition, stress can cause a spike in your blood pressure, and it can worsen your mental and physical health. High blood pressure, for instance, is often a sign of a heart attack. Like high blood pressure, chronic conditions can lead to a higher risk of stroke and heart attack. A study published in the journal Social Science and
Medicine found a strong association between high financial debt, poor health, and high blood pressure.
Unsecured debt has been linked to depression, high blood pressure, and stress. It is also known to affect people of color, women, and rural dwellers. Several studies have suggested that debt reduction can improve these health outcomes. However, further research is needed to determine the exact relationship between debt and health.
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