Debt and Mental Health - How have your debts affected you?

SuperShaun

Having been strggling to get to grips with it for such a long time - it greys any future plans for me.

I don't really have any aspirations any more as having them leads to frustration when they inevitably don't happen.

ditty1234

Well while debt stressed me out more than anything, then 2 and a half years ago, when I decided to take control, or rather had pushed my debt beyond the limit, I got a DMP and have slowly built back my self confidence and money skills - along with my tiny savings alongside debt payments, and I feel incredibly happy and in control, except over the things I can't control - like credit score and limited holiday plans as no credit card, but then I cant really afford holidays anyways. Just so much better.

LegoHead

I have suffered from bad anxiety and panic attacks over last few years. Finally came off pills in June and starting to get my life back under control. I earn good money and have been spending uncontrollably on gadgets and bits and pieces. I am slighty addicted to tools and playing in my home workshop. I have now come to a point where I just have to tell myself I can't afford to buy the things I want and that is ok. I have plenty of other things at home that can keep me occupied.

For me I found the best thing to improve my mood is running a couple times a week and not drinking any alcohol. Although at the moment I am finding it very hard to get outside.

Anyone else stuck in a rut and want to make a pact to go running this week?

Graham1982

I am no-longer in uncontrollable debt. I have one consolidation loan with about 4.5k left to pay on it and this has been running for two years. Unfortunately, I think when I was in debt the constant euphoria/come down associated with being paid and then within three days having 10 pounds in my bank account after all debts were serviced was becoming very wearing. I never got to the stage of debt collectors or defaults but I became very fatalistic about not getting out of debt. I was refused loans to consolidate due to being at the limit of my cards and therefore for a while, missing a payment or being late with one I thought wasn't really an issue because I thought I would never get out of the debt in any event so would never buy a house etc.

I can honestly say having manageable debt that is being paid off and a savings pot that I am adding to is the best thing for my mental health. I really wish that I listened to my parents when I was younger. From the age of 16 I had tons of retail jobs whilst at uni and college but just frittered the money away and got a credit card to boot. If I had saved some of that income, life would have been far better far quicker.