Why credit card debt makes you sick

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Monday, February 1st, 2010 Subscribe To Our Feed

Most people know from their own experience that unpaid credit card debt causes stress and fear.

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). It mgiht sound far feteched, but such health risks could actually lead to an increased risk of chronic disease.

The link between the health risks caused by unpaid credit card debt may be found in different areas of the human psyche.

Firstly, it is important to note that unpaid credit card debt, no matter whether it is excessive credit card debt or not, causes uncertainty for the person who incurred the debt. 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.

A lot of people become very frustrated if part of their salary goes straight into the credit card repayment andf they never keep any money 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 the worst case scenario, the reaction is like a child that wants immediate satisfaction – the consumer gets fed up with paying off their credit card debt and never having any money. 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. The amount of unpaid credit card debt signifies to their own failures to them. 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. Many people feel even more ashamed and guilty once they turn to others for help with their credit card debt problem.

Credit card debt is about more than just money - it involves our emotions, our psychology and our attitudes.

If you truly want to find a solution to your debt crisis, you will need to address the psychological aspects of your debt. You’ll feel indescribably free once you reaslise that reducing your credit card debt, and paying it off, is actually easier than you thought.

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