If you believe that money can bring you happiness, do you also believe that debt can be detrimental to your health? If so, you may be right. Nobody likes to look at a stack of bills that need to be paid, but being in debt can really impact your health.
When you do not have enough money to enjoy living the life you want to live, from taking vacations, indulging in hobbies or even buying the newest electronic gadget, you can feel sad. But it is one thing to feel down because you are unable to buy the things you want, it is another thing to have the weight of debt constantly on your shoulders.
One study showed that people who had long bouts of unemployment were more inclined to purchase over the counter pain medication. But that is not the whole story. Researchers also found that people reported feeling physical pain just by thinking about their financial problems when they had trouble paying bills or were in debt.
How are people responding to debt?
Before working out a plan to tackle their debt, most people try to ease their pain with denial. Many believe the best way to deal with the debt is by ignoring it and dealing with it later. People will endure threats of foreclosure, endless calls from debt collectors and ruining their credit score instead of addressing it head on.
Below are some of the most common ways people deny their debt:
- Not knowing how much debt they are in
- Thinking that they owe less than they do
- Not opening bills and hiding them away
- Getting a new credit card once one credit card reaches its max
- Finding comfort in the fact that many other people are in debt
If you are in denial, it will continue to get worse before it gets better. If you are ready to eliminate debt and take control over your financial future, contact an attorney who can discuss with you options such as filing for bankruptcy. This may be able to provide the relief you are looking for.