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 this worry is recurrent, your physical and mental health can suffer. According to a 2017 survey by the Credit Protection Service (SPC) and the National Confederation of Shopkeepers (CNDL), 69% of those in debt suffer from anxiety when faced with this reality.
Not everyone can muster the strength to organize their finances and maintain their quality of life. According to the survey, at least 16.8% of people who can't pay their bills cope with anxiety through some kind of addiction, such as food, alcohol, or cigarettes. But with some care and new habits, it's possible to turn things around more easily.
These findings are very serious, and now that you know a little more about them, how about understanding the subject better? Learn about 5 dangerous effects of debt on our well-being and find out what to do to avoid becoming a statistic!
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 in isolation, and it's common for a person to deal with more than one at the same time. Now, let's look at the 5 main scenarios, so you can watch out!
1. Insomnia
Around 54.8 million Brazilians are having trouble sleeping because of debt, according to a survey by the Locomotiva Institute in partnership with Negocia Fácil, a digital debt collection service. Do you fall into this category?
Insomnia leads to numerous other health problems and complications. Far beyond stress and a mind that never rests due to worrying about debts, this sleep disorder causes exhaustion, fatigue, malaise, severe headaches, burning eyes, and even obesity.
Lack of concentration and excessive fatigue of the body and brain still significantly impair productivity. This is especially true at work, as a lack of confidence in one's financial situation can become a major worry, diminishing focus and energy.
2. Anxiety
Anxiety isn't solely linked to the stress of thinking about how to solve financial problems. Some people resort to other harmful practices to try and alleviate this discomfort. Results from a 2016 national survey by SPC and CND showed that four out of ten delinquent consumers have a habit of making impulse purchases, even when they recognize their unfavorable financial situation.
This makes everything worse and keeps anxiety high. To top it all off, there's the frequent fear that it's too late to find a solution, which delays decision-making and can worsen finances again.
3. Low self-esteem
From the moment they are added to the list of debtors, according to a survey by SPC and CNDL, 6 out of 10 defaulters experience low self-esteem. This is because they feel incapable of dealing with the financial situation and, consequently, prefer to isolate themselves socially.
The shame of telling family about their condition also interferes with the issue. Those responsible for supporting relatives, in particular, often carry an even heavier burden in this regard, since their financial situation is directly linked to the well-being of others.
4. Depression
Those who struggle to manage their debts are constantly under pressure and stress. This can trigger depression, especially in people with a genetic predisposition. This is very concerning because one in five people has faced, is facing, or will face an episode of the illness at some point in their lives.
It's not difficult to understand the effect debt has on a depressed individual. After all, they live every day with the anguish of debt collection, the anxiety of figuring out how to solve the problem, and a financial reality that is already not very good.
Given this, it's normal for him to feel grumpy, unmotivated, and pessimistic. Apathy towards the outside world, if it becomes acute, begins with debts, but can affect all other life priorities.
5. Gastritis
Seeking solace in food addictions, smoking, and alcoholism is what intensifies the number of indebted individuals who develop gastritis. Because they do not hydrate or eat properly, prioritizing only the consumption of these unhealthy products, the body's gastric cells are rapidly destroyed.
Depending on the case, there is also a segment of individuals who depend on medication, whether for depression or other issues associated with debt. The greater and more constant the consumption, the greater the inflammation of the body's internal organs.
How can I improve these symptoms and lead a more financially secure life?
To avoid the "snowball effect" and better care for your physical and mental health, organizing your finances should be a priority. But don't worry, there's no need to panic and simply pay off all your debts at once. On the contrary, it's very important to remain calm and make smart, favorable renegotiations for your budget.
It's possible, for example, to ask for lower interest rates or even discuss an installment plan. Of course, having cash available makes it easier to get attractive terms. However, when that's not possible, it's worth checking the real possibilities and being very honest when negotiating and talking. Never take on more responsibility than you can handle at the moment, so that debt doesn't accumulate again.
Then, once you have everything in order, invest in financial education tips to get back on your feet. Learn to save, to economize, and to make investments that truly bring a good return.
With these best practices, you can avoid debt and monitor your monthly budget to ensure better control of expenses and bills. And you'll prioritize your physical and mental health, which is most important! If you want to guarantee your well-being, you can count on us: Descomplica Finanças provides debt settlement agreements with discounts, all 100% digitally, with monitoring of the agreement and installments.
To learn more about how we can help you, visit our website now!
