Curated News
By: NewsRamp Editorial Staff
October 08, 2024
Rising Credit Card Debt Fuels Unprecedented Stress Levels, Aggravating Mental Health Issues
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- The rising stress linked to credit card usage creates opportunities for debt relief companies to offer competitive solutions.
- Debt.com conducts an annual survey to examine the correlation between mental health and financial stress, revealing a clear increase in debt-related stress over the past three years.
- Debt.com's research highlights the detrimental impact of credit card debt on mental health, emphasizing the need for greater awareness and support for those struggling with financial stress.
- Over half of survey respondents feel stressed when reviewing their credit card bills, revealing the pervasive and immediate impact of financial stress on mental well-being.
Impact - Why it Matters
This news matters because it sheds light on the alarming correlation between credit card usage, debt, and mental health. With a significant portion of Americans feeling stressed after using credit cards, and an increasing number taking on more debt when feeling stressed, the impact on individuals' mental well-being is undeniable.
Summary
Debt.com's annual survey reveals a clear link between credit card usage, increased debt, and heightened stress, exacerbating mental health issues. The survey found that 4 in 10 Americans feel stressed after using their credit cards, with Gen Z being the most affected. Additionally, over half of respondents feel stressed when reviewing their credit card bills, and the convenience of credit cards negatively impacts 76% of survey participants' mental health.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Rising Credit Card Debt Fuels Unprecedented Stress Levels, Aggravating Mental Health Issues
