Good or bad debt, it always has serious emotional and physical effects on your mind. There are different kind of debts like, like personal debt, car loans, home loans medical bills even credit card debts. All have some kind of debt to face in order to maintain the ever increasing price of essential commodities. This debt affects different people in different ways, emotionally and psychologically. Some can feel depressed and anxious on a small amount of debt while others can even not bother a large amount of debt. To know some common psychological and emotional effects of debt on humans, read on.
Anxiety And Depression
There is a strong relation between debts an anxiety which results in further depression. People who have debts are lot more prone to anxiety and depressions than those who do not have any debt at all. When you have to constantly worry about arranging for money to meet the deadline of your regular monthly EMIs, it leads to anxiety. This feeling of having lost all hope and seeing no light at the end of the tunnel of debt, can lead to hopelessness. Different medical institutions have conducted studies on this subject and have found that debt has serious health issues resulting from anxiety and depression.
Resentment And Denial
Debt can also result in resentment with your partner and encroaches into your family matters, partnership and even marriage. One tend to resent on the other about bringing debt to the family and blame for losing job, extravagant sending habits, not having enough means to pay off debt and much more. It affects your psychological well-being and can even lead to divorce. Resentment is not confined to family members in such cases. It can also be with your employer, friends and others as well. Another effect of debt is denial. Non-accepting of the fact that you are in debt can lead to serious consequences.
Frustration And Anger
Unmanageable and uncontrollable debt can be very frustrating, even to the extent of infuriating yourself on others. This again has a different approach as well. When you enjoy the money taken on debt you are still agreeable to them but you feel too frustrated at debts which results from unforeseen events like losing a job, divorce, death in family, repair for home or car and much more. You can click here to know more about such unforeseen events of debts. Medical bills are one of the major factor and example of debts due to unforeseen events.
Positive Effects Of Debt
You also have lot of regrets, embarrassments, regrets and fear about debt but you may tend to think whether or not there is any positive effect of debt on human emotion. There is always a positive effect of everything just like every coin has two faces. But this positive effect can only be had if you can successfully control and manage your debt to get rid of it as soon as you can. You get a wonderful feeling of joy, relief, accomplishment and a sense of freedom. So, if you want to feel better health wise, start paying off your debt in a systematic way.