Excess Debt and How It Affects a Person Emotionally

Debts are basically of two kinds, good debt, and bad debt. Irrespective of the kind of debt that you have, it is responsible for causing numerous emotional effects. Debt is not only about just money. It is responsible for causing a number of emotional as well as psychological issues as well. According to www.thesimpledollar.com, 39% of the Americans are responsible for carrying a credit card debt every month. Apart from that, most of the students tend to graduate with a huge amount of student loans. If you are rounding it up with the car loans, medical debt, mortgages, and the various other kinds of applications, it is best to assume that almost each and every American is responsible for carrying a certain amount of debt.

Debt is responsible for affecting different people in different manners. There is not going to be any common tolerance for the total debt amount that a person is carrying. While a single person is going to suffer from anxiety when he has $1000 credit card debt, some people are not even going to care until and unless the debt amount has reached more than $200,000.

Irrespective of the total debt amount, it is responsible for affecting a person both psychologically as well as emotionally.

Given below is a list of the emotional and psychological issues, which are associated with debt.

Anxiety and depression

A thorough study was conducted to test the correlation between depression and debt. This study revealed that people who found it difficult to clear their loans and debts are going to experience a number of mental problems, which include anxiety and depression. The anxious feelings are responsible for giving rise to numerous triggers, which include constant stress about money, being overwhelmed, and also, hopelessness. The study further reported that almost 29% of people who have high stress related to debt reported severe anxiety. Another research conducted on household debt also stated that a high amount of debt is associated with a huge rate of depression and stress.


Debt is obviously going to be rough on each and everyone, especially when it starts spoiling the marriage, your partnership, and your family. Your partner may resent other ways of coping with excess debt. It is not uncommon to blame your spouse for getting married even after having more debt, not being able to earn enough money, losing a job, or not taking care of the spending habits, which have lead to debt. One important thing that you need to know is that your significant other is not only the only target of resentment for you.

You can also start resenting your employer because he is not able to pay enough money to you or provide a raise. You can start resenting your friends or family members, who are dependent on you or are affecting the financial health some way or the other. If you are in college, you can start resenting your parents or counselors for not explaining the bad effects associated with a student loan.

Most importantly, it has been observed that people start resenting themselves as well as the decisions that they make, which have led to the debt. Whether you are spending money impulsively, opted out of the health insurance plan, take a poor decision related to your career or done something else, it is not uncommon for you to regret the decisions.


While some people are going to feel that debt is sitting on their shoulders and responsible for causing all the stress, some other people have the tendency of blocking this out completely. Denial is one of the most common problems, despite all the reminders as well as the notices that you are going to receive constantly. It is true that ignoring your debt is going to provide temporary relief, but at the end of the day, more debt is going to accumulate.

Denial can start manifesting itself in not opening the bank statements and bills, which come in your mailbox, stuffing the late notices or due bills in the drawer and forgetting completely about them, not taking the phone calls when you start suspecting that it is from a creditor, or not dealing with debt at all.

If you stay in denial, it is going to end up increasing the total amount that you owe. Not dealing with bills can also be responsible for late charges and the interest rate is also going to increase. If you decide to make minimum payments on the debts that have a high-interest rate, the balance will still grow high because of the interest rate, which accrues. If you are interested in debt consolidation and you have chosen an organization already, it is crucial that you go through the other debt consolidation companies review so that you can choose the best one.

Excess stress

Stress and debt are like companions. When you are constantly worried about a huge amount of debt, it will lead to a lot of stress and anxiety. It is natural for you to think as to how you are going to deal with all the debt and how you are going to get out of it.

Having a substantial amount of debt can be responsible for increasing the stress level at your work as well, because in case if you lose your job, it is going to be catastrophic to the financial position that you are in. Every time you are going to spend money on simple things, like your food or getting gas for your car, your stress level is going to increase. Stress can also be responsible for other health problems like heart diseases and severe migraine. Stress, which is responsible for coming from excess debt can strip away all the benefits associated with the positive events, where you have decided to spend money.

Frustration and anger

It can be extremely frustrating when it becomes difficult to control your debt amount. In certain situations, it can be even more difficult for you to pay your medical bills as well. This is going to lead to anger and frustration.


It is not easy to clear all your debt within a single day but it is necessary that you start dealing with it little by little. Once you are free from the excess debt, you will see that your health problems are also going to disappear as well.