Depression Over Debt
The mental health charity Mind has discovered that there are a large number of people currently depressed over their financial burdens. They say that concerns about how they might get debt free are having a significant negative effect on their mental health.
The charity had just launched their Mind Week when they reported that 91% of their respondents were worried so much about debt that they feared it had worsened their mental health. They said that with such a large number of them, 87%, using credit cards to pay for basic purchases like food and electric.
With the cost of living escalating, the company fears that the number of people negatively impacted by growing financial concerns will increase, thus leading us to what they are calling a Great Depression – in the terms of their mental status.
They are trying to make these people aware of debt consolidation options so that they can relieve some of their stress in regards to their current health. They say that by using debt consolidation, they can drastically reduce the amount of debt that they are putting out each month, thus relieving the stress that comes from that.
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