280. Debt and Depression

Debt

There is a direct link between debt and depression. “People in debt are three times more likely to have a mental health problem than those not in debt” says new research by the University of Southampton (UK). But the research also mentions that these statistics may include a chicken-egg component. That is, there may be a link between having depression and being in debt as well as the link between being in debt leading to depression.

For example, Manny is in debt and falls into depression because of it. On the other hand, Maria is in depression and loses her job because she misses too much work, leading to her debt. I know from personal experience that when deeply depressed, it was difficult to even pay the bills, though I had the money to do so.

The moral of the story: if you are deep in debt, seek counseling to help guard you from depression.

About Patrick Day

In 2010, I escaped from four long years of deep, dark depression. This blog shares lessons I learned from those years as depicted in my autobiography - How I Escaped from Depression - as well as other insights about depression and anxiety that only come from someone who has gone through it. When you have a heart attack, you become an expert in heart attacks. When you have diabetes, you become an expert in that condition. As such, I am an expert in depression, with a four-year experiential degree and graduate studies in how to live a life going forward that keeps the ever-lurking Depression at a healthy distance.
This entry was posted in Doing Healthy Things, Emotional Wellness, Treatments for Depression. Bookmark the permalink.

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