Mental Health And Debt Is A Marriage Made In Hell
Availability of debts of different kinds and at different rates of interest is easy now and much has been said and written about it. People now knows ways more than one to procure a loan than the ways to repay it back on time which has led to a serious condition of debt piling up. When such debt accumulation reaches unreasonable and unmanageable proportions, it becomes a serious threat to health, both mental and physical, along with personal and professional life relationships. With the boom in the consumer loan industry, more and more people are facing such a threat at a very fast pace.
Money And Mental Health
Not much has been written or talked about the relationship between money and mental health which is a very serious and important factor. If you want to put things right, you have to understand the relation, its impact and then find out ways to deal with it. If you are not fit mentally then you would have all sorts of problems, not only physical but would also suffer from excessive stress and be reluctant to cope up with the world. Considering the mental health and the problems of excessive debt are marriage made in hell, you should learn about new policies to protect yourself from such dire situation.
Mental Health And Consumer Finance
Well, there may be no statistical data to justify the relation between mental health and consumer financing but this is one aspect which should not be overlooked. If you are healthy you can implement newer and better policies to fight with your financial situation and also work in collusion with your regulators and banks to implement some changes. Study says that more than half of the people with consumer loans have been suffering from mild to severe mental illness as compared to the general population.
Mental Health Consequences
When you are affected mentally it might affect your daily life and your behavioral pattern as well. You would have unhealthy relationship with your family members and in your office as well. It has been found that too much debt problem may even cause such serious problem in the personal life that even marriages do get broken. Apart from this you are exposed to high diastolic blood pressure, heart diseases and strokes, insomnia and restlessness, mood swipes and irritation and much more. It can also affect your eating habits further deteriorating your health conditions.
Helpful Practical Measures
To cope up with the problem you have to think practically and avail the practical measures which might help. The first and most effective way to treat your unhealthy finance and your mental illness is to freeze credit voluntarily. When you give authority to the card provider to block your card seeing any unusual nature in the spending pattern, it might help a lot in less credit formation.
When you return to favorable condition the same card could be unblocked by a trusted friend. You must know that credit cards are the most perilous debt building tool. Check online to know all about the ill effects of credit card loan. Also, just keep in mind that whenever you get trapped in some debt or bill issues you can check out for bill consolidation loan. It is a life savior and can lower your trouble and make things go smooth for you.