MEN - The Hidden Cost of Debt on Your Mental Health
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May is Mental Health Awareness Month, and with 80% of Americans in debt amid inflation and rising interest rates one of the biggest factors impacting our mental health that not enough people are talking about is financial debt. Recently, licensed clinical psychologist and National Debt Relief Financial Wellness Board Member, Dr. Regine Muradian conducted a satellite media tour to discuss why self-care is important during challenging financial times.
A video accompanying this announcement is available at: https://youtu.be/h_cczQ9fKS8
A recent survey by National Debt Relief sought to uncover “The Hidden Cost of Debt” to understand the spiraling impact of debt on mental and physical health .
The national survey of two thousand Americans revealed a hunger to have a game plan in place so they feel confident in their ability to tackle debt while living their life mentally, physically and financially well. National Debt Relief has helped over 450,000 clients settle their debt by working with creditors and banks to negotiate down the total amount owed in as little as 24-48 months. What’s more, 95% of clients are in a better financial situation, and they are 4x more likely to reach their financial goals and save after one month of completing National Debt Relief’s program.
Some of the survey findings include:
- 7 in 10 people feel like a black cloud hangs over them when they have to pay a bill or loan
- People lose 200 hours of sleep per year over their debt & have 3 debt nightmares a week
- 3 in 5 Americans have considered putting off marriage to avoid inheriting their partner’s debt
- 54% believe having a partner who is in debt is a major reason to get a divorce
- 69% of respondents said being in debt has made them withdraw from the things they love
- Continuing to look at the future, 3 in 4 want to pay off all debt so their children won’t have to suffer
- Nearly three-quarters of those polled wish there were tools and resources available to help them when they were at their worst in debt ( 73% ).
While it is very important to deal with the monetary side of debt, it’s also critical to understand how our finances can have a toll on mental health and relationships with friends, relatives, and spouses. Dr. Muradian shares her tips and insights on the best ways to cope with and overcome the hidden costs and burden of debt:
- Establishing a plan for getting out of debt and get back in control
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Prioritizing self-care practices through the journey to support mental health, such as:
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Reframing thoughts by shifting from “I’m in debt” to “I have a plan to get out of debt”.
- Doing one activity each day for oneself like exercising or reading
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- Having transparent conversations with loved ones (partner, spouse, family or friends) to avoid feelings of isolation.
To get started on the path to financial stability, visit nationaldebtrelief.com or call 800-927-6955 for a free consultation.
About Dr. Regine Muradian:
Dr. Regine Muradian is a licensed clinical psychologist, children’s author, speaker, consultant and mental health advocate. In her clinical practice, Dr. Muradian works with children, adolescents, and adults who present with a wide range of emotional stressors. She specializes in Anxiety and is a Certified Clinical Anxiety Treatment Professional (CCATP), ADHD, Depression, Eating Disorders/Body Image and Executive Functioning and Leadership Training. Dr. Muradian is also a specialist in Psychological, Personality and Neuropsychological Assessments. Dr. Muradian is fluent in French, Romanian, and incorporates her multicultural background and experiences in her clinical practice and trainings. Her focus is on helping people find their passion through exploring their inner strengths and bring these to the surface. There is no age limit to success as it all starts with an idea. How you generate and create that idea is the path to ultimate success. Dr. Muradian has been featured as a national renowned parent expert in outlets not limited to: Good Day LA, UK Talk Radio, WFLA Channel 8, Architectural Digest, FabFitFun, Huffington Post, MSN, CV Weekly, Thrive Global, and Healthline.
About National Debt Relief:
National Debt Relief (NDR), a BBB A+ Accredited business that helps consumers get out of debt and is committed to empowering people on their financial journey, bringing them back to living their lives and away from focusing on debt. NDR offers a successful alternative to bankruptcy, credit counseling or taking on new loans. As a top-rated debt relief company in the U.S., NDR is proud to have positively impacted the lives of hundreds of thousands of people on their journey to become debt-free. NDR wants to make sure clients succeed and have the best chance to regain control of their finances. Founded in 2009, NDR is values-centric; built on integrity, growth and connection.
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