So many people have debts these days that they are allowing it to affect their health. The cause of peopleâ€™s ailments such as depression, ulcers, and heart attacks a lot of the time is caused due to worrying about how they are going to pay their debts. Throughout this decade and the last, debt-related stress has only been increasing.
Some major reasonsÂ why people fall into debt can tied to the current economy, but others are just spending beyond their means. In recent years people have been losing their jobs and their health insurance. When they are diagnosed with serious illnesses that need significant medical treatment they are left with the last resort of paying these medical bills with credit cards.
A number of people have also been unable to keep up with their mortgage payments after losing a job. They become severely delinquent in their payments, and their lenders begin foreclosure proceedings. These homeowners do everything they can to prevent the foreclosure sale from happening, and during this time they are under a great deal of stress.
Thereâ€™s also the group of people who are purchasing the new technologies every time something makes its debut. These people use their credit cards, and build up debt beyond their ability to pay it back. The Federal Reserve has stated that Americans are currently carrying $957,000,000,000 in credit card debt.
Money gives people the feelings of strength, power, and security, and when they lose their ability toÂ make money they lose thoseÂ feelings and begin to feel anxiety. It becomes difficult to pick up the pieces and move on, but worrying is not the answer. Worrying only keepsÂ you from sleeping and eating properly, and thenÂ your immune systems are less able to keepÂ you from getting sick.
One thing people can do to help themselves out of debt is to determine the reasons why they fell into it. If you find that youÂ were spending too much, thenÂ cut back onÂ purchases. Be sure to set up a budget and stick to it untilÂ you have taken control of your finances and your health.
Courtesy: Advantage Credit Counseling Service
Advantage Credit Counseling Service is a member of the National Foundation for Credit Counseling.