Why Debt Can Weigh on You Emotionally

Debt can really weigh on you emotionally! There is little doubt that it can impact both your state of being and mental health. And when your mental health isn't holding up, that can tend to cause other health related issues. Sometimes the associated stress from debt can be worse than the actual debt itself.

Like other financial issues and problems debt has the power to impact our emotional state and well-being. It’s known to give people depression and a whole host of other emotional disturbances. This tends to compound with other negative things we have going on in our lives and can cause us to push our debt problems to the side. One negative ends up leading to another negative.

And the negative feedback loop of debt usually doesn’t allow customers to make headwinds without first addressing the root cause of the problem which is usually the debt itself. It paralyzes us and makes our ability to move forward extremely difficult. It can even lead to debt depression.

Self-Blame & Doubt

There are scenarios in which we blame ourselves for getting into debt, but sometimes these things become unavoidable. We really should try our best not to regret. Regret only leads to more sadness and more sadness can actually end up leading to more debt. The debt game is not an easy one to overcome but if we put our minds to It, it’s something we can figure out.

It can cause a lot of future problems and is the key reason we can become fearful of moving forward in life. Doubt and regret tend to produce more negativity and don’t ultimately have much of a positive impact.

Financial Regression

Debt can actually lead to financial regression. In this scenario, we just can’t really get positive about our financial wellbeing because everything seems so negative. We’re in debt and it’s something that prevents us from sleep and prevents us from finding rest. Investing becomes harder and savings is put on hold until the debt is addressed.

Depression & Stress

Debt can lead to depression and stress. These things go hand in hand and you often times cannot have one without the other. In order to avoid depression and stress we need to first tell ourselves that everything is manageable and debt is an addressable issue that we can solve. Although you might not have it figured out right now, there’s options available that can help you eliminate debt for good and put you on the right path. Depression can be very hard to manage and if you don't address the root cause of the problem things could compound and get worse. So take care of yourself and make sure you prioritize your health, the rest tends to work itself out.

Debt has been known to weigh people down and cause so much harm to the mind of consumers. Jesse Livermore a famous stock trader and legend of his time eventually ended up committed suicide mostly due to health issues and monetary losses he could no longer stomach. Debt isn’t a game. There have been many instances of famous people living in debt and having financial hardships due to it. Shakespeare was always famously borrowing money. Pablo Picasso was famously broke for most of life. These things tend to happen and everyone loves a rag to riches story but that isn’t always how things play out. My point is debt is serious. It’s not taken lightly or mocked at since you don’t actually know what affect it could have on different people.

However, the US government would make you think otherwise, seeing that America is now carrying a whopping $17 trillion dollars in debt. Credit Card debt totals exceed $1 trillion in the current economic environment as does student loan debt exceed $1 trillion.

Mental health does affect how people management their money and there can be consequences from ignoring it. However, correlation does not equal causation. So, debt and mental health are not directly caused by each other but they can often times be highly correlated since it just doesn’t feel good to be in debt.