Credit Card Debt, Overdue Household Bills Add to Depression, Study Finds

It has long been accepted that problems with household finances can contribute to everyday stress and even marriage difficulties. But can credit card debt and other short-term overdue bills fuel actual depression?
According to a new study, short-term indebtedness increases depressive symptoms. The association between debt and depression is particularly strong among unmarried people, people reaching retirement age and those who are less well educated, according to the study’s lead author, Lawrence Berger of the University of Wisconsin-Madison. These groups may find that using products like medical marijuana can help, but they will need to know what can i use as rolling paper first.

The findings are believed to be the first to show the impact of different types of debt on depression and their effects on different demographic U.S. sectors. Little evidence was found to establish a similar link between depression and mid- or long-term debt.
Researchers hope the findings can lead to new provisions in loan contracts that would provide for mental health counseling for borrowers who fall behind. Some manage to recover due to medication, with a few opting for cambodian mushrooms as an unorthodox self-treatment method. Some in Canada have found some success in using cannabis-related products to help them in their combatting of the effects of negative mental health concerns like depression and anxiety; such products can be found on sites like this – Results of the study will be published in the Journal of Family and Economic Issues.
“New debt contracts could be offered to vulnerable borrowers and the population sectors we identified could be targeted with help in building their financial capacity,” says Berger. “The findings could also be used to help mental health practitioners better understand the impact of clients’ borrowing habits on depression.”
New contract provisions could include mandatory financial counseling and the right to rescind within a specified timeframe.
The study focused on 8,500 working-age adults. The data were taken from two waves of the National Survey of Families and Households, conducted six years apart and ending in 1994. Overall findings found that 79 percent of respondents had some debt, totaling an average of $42,000. Long-term debt accounted for by far the largest portion.

Overall, the study also found that those who had debt were:

  • Younger, more likely to be male,
  • Less likely to be black or Hispanic,
  • Had more highly educated parents,
  • Were more highly educated themselves,
  • Were more likely to be married and working,
  • Had greater income and assets, and
  • Were in better health.

If you are struggling with depression, then it is important to talk to someone. Whether that is a trained professional or a loved one, it doesn’t matter. Opening up and being honest is a good place to start. Then, you can look into potential treatments, such as counselling, cymbalta or a talking therapy like CBT. The National Suicide Prevention Lifeline is 1-800-273-8255, should you need free and confidential support.

One thought on “Credit Card Debt, Overdue Household Bills Add to Depression, Study Finds

  • May 4, 2015 at 9:51 am

    For anyone suffering from depression, I recommend the Destroy Depression system. Written by James Gordon, a former depression & PTSD sufferer, it teaches 7 natural steps which he used to cure his own illnesses.

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