There is no doubt that credit cards can present financial problems for people who carry balances on his or her charging devices. New Yorkers with credit card debt may have trouble making their minimum payments and may find themselves penalized by their credit card companies for maxing out or exceeding their credit limits. What some people may not realize is that all of those financial hardships that credit card debt can impose can also manifest negative health consequences in those who bogged down by their bills.
For example, individuals who struggle with credit card debt may suffer from depression related to their debt. Being unable to pay off one's bills can feel like failure for some, and failure can lead to feelings to inadequacy. Credit card debt can also keep people from pursuing plans for the future that they hope to achieve, which can also lead to depression.
Credit card debt may have physical implications for people as well. The stress of carrying credit card debt can cause some individuals to experience high blood pressure, a serious condition that can tax one's heart and entire body. Debt may also cause some people to overeat and seek out other unhealthy coping mechanisms for dealing with their debt-related stress.
Finally, credit card debt and other money problems can contribute to conflict between couples. The health of relationships can suffer when money becomes a tense issue between people committed to each other. While other financial situations, such as filing for bankruptcy, can create tension in the lives of those facing such struggles, some research suggests that carrying credit card debt could be bad for one's health.
To investigate ways to overcome credit card and other debt obligations, individuals can work with financial and legal professionals to better understand what debt relief options may be available to them. This could help individuals and families take the proper steps to improve their financial health, helping to improve the physical, mental and emotional health of those dealing with financial problems caused by credit cards.
Source: Time.com, "5 Weird Ways Credit Card Debt Can Hurt You," Lindsay Konsko, June 11, 2015