If at the end of the month there isn't enough money to pay off debts or bills, worry takes over your routine. And if it's recurring, your physical and mental health can be harmed. According to a 2017 survey by the Credit Protection Service (SPC) and the National Confederation of Retail Managers (CNDL), 69% of those in default suffer from anxiety when facing this reality.
Not everyone can muster the strength to get their finances in order and maintain quality of life. According to the survey, at least 16.8% of people who can't pay bills take out their anxiety on some vice, such as food, drink, or cigarettes. But with some care and new habits, it's possible to bounce back more easily.
These findings are very serious, and now that you know a bit more about them, why not understand the subject better? Learn about 5 dangerous effects of debt on our well-being and find out what to do to avoid becoming part of these statistics!
What are the effects of debt on physical and mental health?
The effects of debt on physical and mental health are varied. They don't always appear alone, and it's common for a person to deal with more than one at the same time. Now, we'll show you the 5 main cases, so you can keep an eye out!
1. Insomnia
Around 54.8 million Brazilians can't sleep well because of debt, according to a survey by Instituto Locomotiva in partnership with Negocia Fácil, a digital collection service. Do you fit that estimate?
Insomnia brings about numerous other health problems and complications. Beyond the stress and an ever-restless mind worrying about debts, this sleep disorder causes exhaustion, fatigue, malaise, severe headaches, burning eyes and even obesity.
Lack of concentration and excessive tiredness of both body and brain greatly harm productivity. Especially at work, since limited confidence in financial life can become such a major concern that it reduces focus and energy.
2. Anxiety
Anxiety is not linked solely to the stress of thinking about how to solve financial problems. Some people start engaging in other harmful practices to try to cope with this discomfort. Results from a 2016 national survey conducted by SPC and CNDL showed that four out of ten defaulting consumers have the habit of making impulse purchases, even when they recognize the unfavorable financial situation they are in.
This makes everything worse and anxiety remains high. To top it off, there is also the frequent fear that it may be too late to seek a solution, which leads to delays in decision-making and can further worsen finances.
3. Low self-esteem
Once they are on the list of debtors, according to the SPC and CNDL survey, 6 out of 10 defaulters have their self-esteem lowered. This is because they feel incapable of dealing with the financial situation and, as a result, prefer to isolate themselves socially.
The shame of telling family about their condition also plays a role. Those responsible for supporting relatives, especially, tend to carry an even heavier burden in this regard, since the financial situation is directly linked to the well-being of other people.
4. Depression
Those who cannot manage their debts live under constant pressure and stress. And this can trigger depression, especially in people with genetic predisposition. What is very concerning, because one in five people has faced, faces, or will face the condition at some point in their life.
It's not difficult to relate the effect that debts have on a depressed individual. After all, they live every day with the anguish of collection calls, the anxiety of figuring out how to solve the problem, and a financial reality that is already not going well.
Given this, it's normal for them to feel irritable, unmotivated, and pessimistic. Apathy toward the outside world, if converted into an acute situation, starts with debts but can affect all other life priorities.
5. Gastritis
Seeking comfort in eating habits, smoking, and alcoholism is what intensifies the number of indebted people who develop gastritis. As they don't hydrate properly or eat well, prioritizing only the consumption of these health-damaging products, the gastric cells in their body are rapidly destroyed.
Depending on the case, there is still that portion of individuals who rely on medication, whether for depression or for other causes associated with being in debt. The greater and more constant the consumption, the greater the inflammation of the internal parts of the body.
How can you act to improve these symptoms and lead a more peaceful financial life?
Para que você fuja do efeito “bola de neve” e possa cuidar melhor de sua saúde física e mental, organizar a sua vida financeira deve ser prioridade. Mas fique tranquilo, porque não é preciso se desesperar para simplesmente quitar todas as dívidas de uma única vez. Pelo contrário, é muito importante ter calma para fazer renegociações inteligentes e favoráveis para seu bolso.
É possível, por exemplo, pedir juros menores ou ainda conversar a respeito de um parcelamento. É claro que, com dinheiro à vista disponível, fica mais fácil conseguir condições interessantes. Entretanto, quando isso não é possível, vale a pena verificar as reais possibilidades e ser muito sincero na hora de negociar e conversar. Nunca assuma uma responsabilidade maior do que a que você pode no momento, para que as dívidas não voltem a acontecer.
Next, once you have everything in order, invest in financial education tips to get back on your feet. Learn how to save, cut costs, and make investments that really bring good returns.
With these good practices, you stay free from debt and keep yourself in check to maintain monthly planning that ensures better spending and bill control. And you still prioritize your physical and mental health, which is what matters most! If you want to ensure your well-being, you can count on us: Descomplica Finanças provides debt settlement agreements, with discounts and 100% digital, with monitoring of the agreement and installments.
To learn more about how we can help you, visit our website right now!