For some people, depression symptoms are often a result of debt and other financial issues.

There is a well-established connection between financial stability and mental health; those who are concerned about their finances are considerably more likely to experience mental health issues. More individuals are in debt more than ever due to inflation and other issues that could affect finances. We are all suffering from the severe anxiety, stress, and sadness that comes with being in debt. What can we then do about it? When it feels so overwhelming, how can we deal with debt depression? You are not alone, and your condition is not hopeless. Continue reading for advice on overcoming debt depression.

Debt Depression: What Is It and How Does It Feel?

The term “debt depression” describes the severe emotions that certain people may go through while they’re drowning in debt. These emotions may be so strong that they may start to have serious depressive disorder or anxiety symptoms. In fact, studies have shown that having a large amount of debt increases your likelihood of developing depression.

You may be suffering from debt depression if:

• You notice that you worry a lot about your finances.
• You experience hopelessness when you consider paying off your debt.
• You try to avoid or ignore any reminders of your debt because you don’t think you can handle the stress.
• You drink or use drugs to deal with the anxiety of your debt.
• When you think about your debt, you begin to consider harming yourself or having suicidal thoughts.

How to Deal With Debt Depression

Here are some steps you can take to begin isolating yourself from debt depression and to take action to regain emotional stability despite your financial difficulties.

1. Understand that your debt does not define you

It might be difficult to maintain your sense of self when you are dealing with debt issues. You could feel like a loser when your every waking thought is about debt. However, be aware that nobody’s value is actually linked with whether or not they have money. Despite your financial circumstances, you are a person with a lot to offer. Make a list of what you have to offer the world or the people around you. Perhaps your strengths include humor, kindness, dancing, and helping others. For daily reminders of your true worth, post these positive things about you somewhere you can see them. Every time someone expresses gratitude to you or you discover another positive trait about yourself, add it to this list.

2. Put an end to the secrecy

Depression is like fuel to a burning bush, keeping quiet about it makes it worse. Feeling down and having debt are not terrible conditions that you need to be quiet about! Many people experience loneliness, isolation, and even severe forms of depression as a result of this stigma. You’re not alone, like many others, the first step is to talk about it, no need to feel embarrassed or ashamed, our debt experts offer friendly consultations and we don’t judge, and yes, it’s free. Call us at EmpireOne Credit at (416) 900-2324 to get a free consultation 

3. Broaden your concept of wealth

The biggest error most of us make is to believe that money is the only source of wealth. Many times, we are really wealthy in other ways, but we don’t allow ourselves to recognize this, which prevents us from overcoming depression. Make it a routine to count five blessings and successes you have each morning. What are your internal assets? Do you have dependable friends? a sound body? It’s possible that the only temporary problem you have right now is the debt; you should be thankful for other areas of your life that seem to be working just fine.

4. Get stronger

Debt might cause you to get so focused on one thing that you fail to notice all the things you can do to hasten your recovery. Could you start exercising more to better care for yourself and get a better night’s sleep? Could you possibly end your relationship with the person who treats you badly?  You will have more insight and stamina to handle your debt the more you create a strong foundation of emotional well-being.

5. Do not blame yourself

No one decides to be in debt. And the reasons we accumulate debt are usually valid ones. Life throws you a curveball, unexpected job loss, reduced hours or just no employment at all. Often, it’s just a matter of education, and in many cases having parents who didn’t teach us about money or debt when we were growing up. Parents often keep children in a bubble, showing them everyday life is simple with no worries, not showing them the real life issues of debt and what effects it would bring. And then we have other parents that may have struggled and shown their children the results of struggle. Recognize that you possibly would have handled it better if you had more knowledge of how debt and money work. Consider it this way: would you call your best friend a failure if they turned around and confided in you that they were deeply in debt? So, don’t treat yourself like a failure.

Get Debt Relief Now

There is help available if you are overwhelmed with debt and don’t know where to start. Your options can be discussed with a debt expert at EmpireOne Credit. Your debt can be reduced by up to 80%, and all interest will stop immediately. It’s time for you to breathe fresh air and experience peace of mind once again. Fill out the form on this page and we will contact you for a free debt consultation. Debt-free feels good.