Research Shows Debt Ruins Relationships
Recently a Canadian debt counselling organisation (yes, they have debt review in Canada) released the findings of their research into debt and how it affects consumers. They call it the Dysfunctional Debt Survey.
Debt’s Negative Effects
Debt can seriously mess with your social and romantic life according to the survey. Around 20% of those interviewed said that they have ended a relationship because of debt (theirs or the other persons). Often this was because of having to hide their debt or discovering the other person had secret debts. in 28% of the cases, the breakups happened among parents, leaving their kids with a divided family.
‘Around 20% of those interviewed said that they have ended a relationship because of debt’
17% said their debt makes them feel depressed;
15% of respondents said they avoid social gatherings due to their debt;
15% of respondents also said that their debt makes them feel unmotivated to pursue other goals;
12% said their debt makes them feel ashamed;
9% said their debt makes them feel hopeless;
A very sad 8% of respondents said they avoid any relationships because of their debt.
As these stats show, debt often has very serious and very negative effects. If you are currently stressed by your high level of debt do not let your debt break up your relationships. Rather than let debt divide you in your relationships, work together to beat your debt.
If you are taking strain then talk to an NCR registered Debt Counsellor who can help you to communicate about your debt and help you improve your monthly budget and debt repayment strategy. Avoid having to lie about your debt, get help and rather break up with your debt.