Huge debts from different creditors are a real concern for most Americans nowadays and a big cause for anxiety and depression.
Are your debts hurting your mental health? Any person that has had to deal with a huge debt can relate to an image of a man or woman seated on a desk with a stack of bills, head leaning on the hand a face masked with anxiety.
Owing money can cause you depression and anxiety. In most cases, the problem might get serious leading to insomnia, substance or alcohol abuse, conflicts at work, headaches, weight gain and much more.
Debts can lead to serious health issues whereby individuals have high rates of blood pressure and more likely prone to strokes and heart attack.
Is there a solution to such mental health issues caused by debts? Of course, the only way to be stress-free of debts and live a happy life is by paying all your debts. However, we all know how hard it is to pay all your debts at once. The more you think about it, the worse your mental health gets.
The only way to go about this is by consolidating your debts. Read this Freedom Debt relief review to see how over 8 billion dollars in debts owed by different people have been cleared. It all comes down to consolidating your debts to a single loan that is easier to manage.
Debt consolidation might not reduce your loans but will definitely be a step in the right direction towards a stress-free life. This is a decision that will help you focus on more important things in life by only having one loan to think about.
How debt consolidation is good for your mental health
Here are hidden ways a consolidated debt loan can help improve your mental health
No collection calls at the end of the month
You know the annoying calls from debt collecting agencies when you’ve passed your due date. These calls are not just annoying but also stressful and lead to depression. When you have several loans to pay, there are high chances of missing one or being late on a payment. Taking a consolidated loan can save you the agony of these calls as you only have one loan to deal with.
Debt consolidation gets you in control of your debts
An average American family usually has around 7 credit cards. In a home with a family and children, you also expect to have something like a car loan, mortgage, student loan, household debt and much more. When you don’t have enough money to pay all these debts, there are high chances of being stressed and going into a depression. It even gets difficult deciding on the amount to allocate each loan.
Consolidating your loan provides you with a simple management process when you know the expected monthly installment. This is one of the best ways to take control of your debts instead of letting debts take control of you. Seeing that you’re in control and making progress can be motivating and life-changing. You can be sure of a positive change in your mental health in the long-term.
A simplified payment process means reduced physiological and psychological problems
Most people rarely realize that they are under stress until the situation worsens and they have a depression. It is normal to feel stressed when you have huge debts to pay. However, it is not good when the debts are beyond your control and start stressing you. Debt consolidation helps reduce some of the psychological and physiological problems that come with huge debts.
The consolidation helps the situation become a lot easier as you gain insights into your spending habits. The interest rates will usually come down helping you save on the long-term. There is also the benefit of having your due date adjusted to a single future date. You will no longer have to deal with the stress of managing different due dates. A single due date, single loan, and single interest mean your situation is a lot better and manageable.
Money, debts, health, and happiness are usually intertwined and one must be able to take control of all. Stress starts from a penalty charged due to a missed monthly installment. This usually leads to depression and without knowing, you’re no longer in control.
You need to take control of your debts today if you’re going to live a stress-free life without any mental health issues.