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Debts and Mental Health

Debts and mental health: How are you paying off your debts?

Ask Ralph Waldo Emerson. He said, “Pay every debt as if God wrote the bill.”

This pandemic, we live in a time with too much accumulating debts. 

Incurred not just by people, but also by governments. They’re debts to address the impact of damage made by the virus.

This is one kind of debt viewed as necessary. A legitimate action given the emergency nature of the situation.

Otherwise, it’s advised that “we act our wage.” Save up. Avoid debts as much as possible.

Debts and mental health are closely associated. Ask Ben.

Ben owed millions. He charged luxury and even unnecessary purchases to his credit card. 

debts and mental health

When his business went bankrupt during the first year of the pandemic, he found himself in dire trouble.

He could no longer pay even the minimum monthly amounts required by the bank. And this went on for many months.

He’s drowning in debts. Struggling to survive. And he thought of changing name and identity to avoid paying off the debts.

What the book of Proverbs says rings true: “the borrower is servant to the lender.” (22:7)

Reason got the better of Ben. He lived frugally. And worked on multiple jobs. Then, slowly, he found ways to make payments for his credit card debts.

Today, he’s over halfway through paying off all his debts. His lifestyle changed. He learned to no longer spend beyond his means. 

He tore apart his plastic card. And now only paying cash for his purchases and living expenses.

He’s happily on the way to be debt-free. So good for his mental health!

It’s evidence to say that getting out of debts is closely linked to happiness!

“It’s only through labour and painful effort, by grim energy and resolute courage, that we move on to better things.” — Theodore Roosevelt


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