The Financial Security Project at Boston University has published research showing that, for every 10% increase in the dollar amount of a person's debt, his or her depressive symptoms increase by 14% - but home loans may be an exception.
More severe psychological effects were shown to come from short-term debt, such as credit card or overdue bills. Long-term debt or "good debt"- such as home loans - was not found to have a similar effect.
Be sure to lighten the financial and psychological load! Re-structure your finances so this is NOT overwhelming!
More severe psychological effects were shown to come from short-term debt, such as credit card or overdue bills. Long-term debt or "good debt"- such as home loans - was not found to have a similar effect.
Be sure to lighten the financial and psychological load! Re-structure your finances so this is NOT overwhelming!
RSS Feed
