• Ruemon Bhattacharyya

The Simple Dollar: Relationship Between Debt and Mental Health

Photo by Luis Villasmil on Unsplash

The coronavirus pandemic has shook the world and arguably has hit the United States the hardest. Many Americans are out of work and struggling to put food on the table. This has affected the mental health of much of the population negatively. Studies have shown since the pandemic began over 33% of Americans have struggled with clinical depression. Many of these cases can be directly correlated to one factor. Debt. 

Debt is shown to impact mental health negatively. Having debt can serve as a trigger for the nearly 44 million people in the U.S. who live with a diagnosable mental disorder. Having debt often can cause symptoms to be more severe and could also continue to hurt financial stability. Some of the most common mental disorders in the United States that can be fueled by debt are bipolar disorder, depression, and anxiety. All three of these mental disorders could require weeks of cognitive behavioral therapy which could be costly to patients. However, it is important to ensure patients receive the proper treatment for mental ailments. 

Wanting to get help and being able to afford help do not always have the same answer. It can be difficult during times of stress to cut working hours to get necessary treatment. Fortunately, there are a variety of programs and resources available to struggling mental health patients to get the treatment they need. Another great tool for struggling mental health patients are the great apps available to help aid stress. These apps often contain anxiety and stress relieving tools which develop personalized plans to help patients cope during struggling times. 

Mental illness is a serious problem in the United States. During times of high economic uncertainty, such as now with the coronavirus pandemic, it can be hard to cope with anxiety. If you are struggling with a mental illness it is important to take the necessary actions to help.  Always remember there is someone out there who is willing to support you during the toughest of times. 

If you are interested in learning more about various mental health programs, apps, and finance management techniques please visit The Simple Dollar

Thank You and Stay Safe, 

The Pilleve Team 




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