Unpaid credit card debt can increase your health risk
It is commonly known that unpaid credit card debt can cause consumers to feel stressed and worried about their finances.
Now a study published in the American Journal of Health Promotion found proof that unpaid credit card debt is also linked to psychological and health risks, such as bouts of depression and a higher body mass index (BMI). Such health risks could also lead to a higher risk of chronic, stress related diseases, such as heart disease.
The human psyche is so multi-faceted that the link between health risks and unpaid debt may be found in various unknown areas.
A person who has large amounts of debt is normally also plagued by uncertainty. This uncertainty of not knowing when and if the unpaid credit card debt can be paid off, how much the interest repayments will be, and how the repayments will be made can cause adverse psychological reactions.
Secondly, many consumers find it extremely frustrating to see part of their wage go straight towards paying off their credit card debt, and never be able to use it for themselves. The feeling of frustration becomes even worse when the unpaid credit card debt is quite large and the consumer feels like they’re not making any progress. In bad circumstance, some people react like children throwing a tantrum. They get totally sick of paying off their debt and not having any money for themselves. People may get so frustrated that they end up in a vicious circle: They want to reward themselves with interest free purchases so they accumulate even larger amounts of debt.
A lot of people associate huge amounts of credit card debt with feeling ashamed. Their fears and failures are represented by the unpaid credit card debt. This ranges between failure to control our spending habits and "keeping up with the Jones'" to the extreme case of failing to provide for our family. Feelings of shame are usually magnified when other people become involved in managing a person’s credit card debt problem.
Large amounts of debt go far beyond the financial realm, they also create an effect on us physically, emotionally and psychologically.
Starting to pay off unpaid debt, normally goes hand in hand with learning about why we created the debt in the first place. You'll feel indescribably free once you reaslise that reducing your credit card debt, and paying it off, is actually easier than you thought.
