If at the end of the month there is not enough money to pay off debts or bills, worry takes over your routine. And if it is recurrent, 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), 691,000 people in default 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 16.81% of people who cannot pay their bills take out their anxiety on some vice, such as food, alcohol or cigarettes. But with some care and new habits, it is 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 do not always appear alone, and it is common for a person to deal with more than one at the same time. Now, we will show you the 5 main cases, so you can keep an eye on them!
1. Insomnia
Around 54.8 million Brazilians cannot sleep well because of debt, according to a survey by Instituto Locomotiva in partnership with Negocia Fácil, a digital debt collection service. Do you fit into this estimate?
Insomnia leads to numerous other health problems and complications. In addition to stress and a mind that never rests thinking 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 also greatly harm productivity. Especially at work, after all, low confidence in one's financial life can become a major concern to the point of reducing focus and energy.
2. Anxiety
Anxiety is not only linked to the stress of thinking about how to solve financial problems. Some people resort to other harmful practices to try to overcome this discomfort. The results of a 2016 national survey conducted by the SPC and CND showed that four out of ten defaulting consumers have the habit of making impulse purchases, even when they recognize the unfavorable situation they are in.
This makes everything worse and anxiety continues to rise. To top it all off, there is also the frequent fear that it is too late to find a solution, which causes delays in decision-making and can worsen finances again.
3. Low self-esteem
According to the survey by SPC and CNDL, from the moment they are included in the list of debtors, 6 out of 10 defaulters have low self-esteem. This is because they feel incapable of dealing with their financial situation and, as a result, prefer to isolate themselves socially.
The shame of telling family about their condition also plays a role in this issue. Those responsible for supporting their relatives, in particular, tend to carry an even heavier burden in this regard, since their financial situation is directly linked to the well-being of other people.
4. Depression
Those who cannot deal with their debts are constantly under pressure and stress. And this can trigger depression, especially in people with a genetic predisposition. This is very worrying, because one in five people has faced, is facing, or will face a case of the disease at some point in their lives.
It is not difficult to relate the effect that debts have on a depressed individual. After all, he or she lives every day with the anguish of debt collections, the anxiety of knowing how to solve the issue and the financial reality that is already not going very well.
Faced with this, it is normal for him to feel bad-tempered, unmotivated and pessimistic. Apathy towards the outside world, if it becomes an acute situation, starts with debts, but can affect all other priorities in life.
5. Gastritis
Seeking comfort in food addictions, smoking and alcoholism is what increases the number of debtors who develop gastritis. As they do not hydrate themselves or eat properly, prioritizing only the consumption of products that are harmful to health, the gastric cells in the body are quickly destroyed.
Depending on the case, there is also a portion of individuals who depend on medication, whether for depression or other causes associated with debt. The greater and more constant the consumption, the greater the inflammation of the internal parts of the body.
How can we act to improve these symptoms and lead a more peaceful financial life?
To avoid the snowball effect and take better care of 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 stay calm and make smart renegotiations that are more favorable to your wallet.
For example, you can ask for lower interest rates or even talk about an installment plan. Of course, with cash available, it is easier to get good terms. However, when this is not possible, it is 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 debts do not happen again.
Then, once you have everything in order, invest in financial education tips to get back on your feet. Learn how to save, economize and make investments that will really bring a good return.
With these good practices, you can stay out of debt and control yourself to maintain a monthly plan that ensures better control of expenses and bills. And you can also prioritize your physical and mental health, which is the most important thing! If you want to ensure your well-being, you can count on us: Simplify Finances provides generation of debt agreements, with discounts and in a digital format, with monitoring of the agreement and installments.
To learn more about how we can help you, visit our website now!
