High Debt Affects Mental Health: Is There A Solution

Outlook Money

Debt Trap

The easy access to credit, loans through EMI schemes, more and more taking of debt, and rising levels of aspirational consumption, ultimately lead to one falling into debt traps.

Debt Trap

Debt Affects Different Stages Of Life

One gets affected by debt when the outstanding loans absorb a substantial part of the regular cash flow leaving aside very little for meeting emergencies or daily expenses. If an individual does not have access to a steady cash flow, the stress factor mounts manifold.


Debt Can Affect Mental Health

Debt can affect mental health and cause stress if one defaults or falls back on outstanding debt. It can lead to disturbing personal experiences like repeated calls and in extreme cases, even threats from collection agencies.

Mental health

What Leads To Debt?

Financial illiteracy is one of the major reasons for debt. A lack of awareness about managing personal finance can also lead to debt burden.

financial illiteracy

Way Out of Debt

Healthy borrowing and altering the spending pattern can help overcome debt.

overcome debt

Ways To de-stress From Debt Burdens

Adopting financial discipline and taking the help of a trusted professional financial adviser can help one to de-stress from debt burdens.

financial assistance