On top of the negative financial aspects of debt, there are serious emotional impacts as well. People who struggle to pay off debts are twice as likely to experience depression and anxiety. People with high debt are also three times more likely to suffer from a mental illness. For every 10% increase in personal debt, depression worsens by 14%. As you can see there are many negative aspects to having excess debt. To learn more about them, check out the infographic below.
Infographic by: www.yellowbrickprogram.com