{"id":5379,"date":"2014-03-20T11:00:19","date_gmt":"2014-03-20T11:00:19","guid":{"rendered":"http:\/\/www.harleytherapy.co.uk\/counselling\/?p=5379"},"modified":"2022-10-18T12:00:00","modified_gmt":"2022-10-18T11:00:00","slug":"debt-depression","status":"publish","type":"post","link":"https:\/\/www.harleytherapy.co.uk\/counselling\/debt-depression.htm","title":{"rendered":"Debt and Depression &#8211; What You Need to Know"},"content":{"rendered":"<p><span style=\"color: #333399;\">by Andrea M. Darcy<\/span><\/p>\n<div id=\"attachment_136467\" style=\"width: 291px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-136467\" class=\"size-medium wp-image-136467\" src=\"https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/pexels-mikhail-nilov-6964345-281x400.jpg\" alt=\"debt and depression\" width=\"281\" height=\"400\" srcset=\"https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/pexels-mikhail-nilov-6964345-281x400.jpg 281w, https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/pexels-mikhail-nilov-6964345-421x600.jpg 421w, https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/pexels-mikhail-nilov-6964345.jpg 709w\" sizes=\"auto, (max-width: 281px) 100vw, 281px\" \/><p id=\"caption-attachment-136467\" class=\"wp-caption-text\">photo by Mikhail Nilov for Pexels<\/p><\/div>\n<p><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/money-stress.htm\">In debt<\/a> and worried about your mental health? <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/10-ways-help-debt-problems.htm\">Debt and depression<\/a> are definitely connected.<\/p>\n<h2>Debt and mental health<\/h2>\n<p><strong>With a few credit cards here, a mortgage there,<\/strong> we live in a world where debt is increasingly available to us as a way to have the lifestyle we want.\u00a0 Live now, pay later.<\/p>\n<p><strong>But we<\/strong>\u00a0<strong>can find ourselves living with non-stop<\/strong> <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/effects-of-anxiety.htm\">anxiety<\/a> as we worry how we will ever find our way out of the increasing sinkhole <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/money-problems.htm\">money issues<\/a> can become.<\/p>\n<p>And for many of us that <a href=\"https:\/\/www.harleytherapy.co.uk\/anxiety-counselling-london.htm\" target=\"_blank\" rel=\"noopener noreferrer\">anxiety <\/a>can take over our lives, then lead right to <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/dating-someone-with-depression.htm\">depression<\/a>. Or, worse, end up suicidal.<\/p>\n<blockquote><p><span style=\"color: #800080;\">The <a href=\"https:\/\/www.stepchange.org\/\" target=\"_blank\" rel=\"noopener\">debt charity Step Change<\/a> estimates that at least 50 per cent and more likely as high as 90 per cent of people in debt feel <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/anxiety-vs-depression.htm\">anxious or depressed<\/a>.\u00a0<\/span><\/p><\/blockquote>\n<h2>How are debt and depression related?<\/h2>\n<p><strong>So what exactly leads to debt and depression being so connected?<\/strong> Reasons can include:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/feel-like-a-failure.htm\">feeling like a failure<\/a> that we are in debt<\/li>\n<li>sensing loved ones don&#8217;t approve of our financial situation<\/li>\n<li>feeling we&#8217;ve let others down<\/li>\n<li><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/push-pull-relationship.htm\">pushing others away<\/a> out of<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/shame-definition.htm\"> shame<\/a> then<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/ask-for-help.htm\"> feeling alone<\/a><\/li>\n<li><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/sleeplessness.htm\">sleepless nights<\/a> due to worry (<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/sleep-problems-mental-health-issue.htm\">sleep issues and depression are connected<\/a>)<\/li>\n<li>turning more and more to <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/substance-abuse-vs-addiction.htm\">addictions<\/a> that further lower our mood like<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/alcohol-and-depression.htm\"> alcohol<\/a> and <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/party-drugs-depression.htm\">drug abuse<\/a><\/li>\n<li>panicking and making other <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/how-to-take-a-decision.htm\">bad life decisions<\/a> that see us feel even worse.<\/li>\n<\/ul>\n<h2>Does debt CAUSE depression, or does depression cause debt?<\/h2>\n<div id=\"attachment_11981\" style=\"width: 410px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-11981\" class=\"size-medium wp-image-11981\" src=\"https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/5267271037_2197a01f22-400x266.jpg\" alt=\"shopping addiction\" width=\"400\" height=\"266\" srcset=\"https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/5267271037_2197a01f22-400x266.jpg 400w, https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/5267271037_2197a01f22.jpg 500w, https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/5267271037_2197a01f22-180x120.jpg 180w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><p id=\"caption-attachment-11981\" class=\"wp-caption-text\">By: <a href=\"https:\/\/www.flickr.com\/photos\/keoni101\/5267271037\/\" target=\"_blank\" rel=\"nofollow noreferrer\">Keoni Cabral<\/a><\/p><\/div>\n<p><em>It&#8217;s a &#8216;chicken or egg&#8217; situation as it&#8217;s\u00a0often true that emotional health issues are part of what leads us to be prone to getting into debt in the first place.<\/em><\/p>\n<p><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/self-esteem-and-depression.htm\">Self-esteem issues<\/a> or<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/emerging-adulthood.htm\"> stress<\/a> <strong>are often what cause us to originally overspend. They can lead to a misguided<\/strong> quick-fix attempt to try to feel better about ourselves or distract ourselves from our troubles through shopping.<\/p>\n<p><strong>Depression can lead to money issues as it leaves us<\/strong> <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/foggy-brain.htm\">foggy headed<\/a> and <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/digital-fatigue.htm\">tired all the time<\/a>, <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/adult-adhd-case-study.htm\">unable to focus<\/a>. It can affect our work performance and <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/wrong-career-path.htm\">career<\/a>, at worse leading to being <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/made-redundant-covid-19.htm\">made redundant<\/a>. And with the<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/building-confidence.htm\"> low confidence<\/a> depression brings it can feel too hard to find other work.<\/p>\n<p><strong>The truth is that the more you are prone to emotional challenges, the more you are vulnerable to money issues.<\/strong><\/p>\n<blockquote><p><span style=\"color: #800080;\">According to Britian&#8217;s\u00a0<a href=\"https:\/\/www.moneyandmentalhealth.org\/money-and-mental-health-facts\/\"> Money and Mental Health policy institute<\/a>, founded by money expert Martin Lewis, people who have mental health problems are three and a half times more likely to be in problem debt. In fact one in five find themselves with this additional problem.\u00a0<\/span><\/p><\/blockquote>\n<h2>Debt and suicide<\/h2>\n<p><em>The institute also shares that people in problem debt are three times as likely to have <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/suicidal-ideation.htm\">considered taking their own life<\/a> in the past year.\u00a0<\/em><\/p>\n<p>In fact the recent cost of living crisis and impending<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/survive-a-recession.htm\"> recession<\/a> has seen a rise in those <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/suicidal-ideation.htm\">thinking about suicide<\/a>. The institute shares that their research polling over two thousand adult found a shocking one in eight people behind on a bill have attempted suicide.<\/p>\n<p><strong>So yes, debt and <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/how-to-stop-being-depressed.htm\">depression<\/a> can be very serious bedfellows indeed<\/strong>, and something you should take seriously.<\/p>\n<p><em><span style=\"color: #333399;\">(Feel you are in danger of hurting yourself or others? Call emergency services or go to your nearest ER. If you are struggling with suicidal thinking you can also call one of several <a style=\"color: #333399;\" href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/mental-health-helpline.htm\">free helplines<\/a> where understanding volunteers are happy to talk to you).\u00a0<\/span><\/em><\/p>\n<h2>You are not your debt<\/h2>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-5427 alignright\" src=\"https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/strike_debt_rolling_jubilee-e1395237098275-283x400.jpg\" alt=\"Money Troubles\" width=\"283\" height=\"400\" srcset=\"https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/strike_debt_rolling_jubilee-e1395237098275-283x400.jpg 283w, https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/strike_debt_rolling_jubilee-e1395237098275-424x600.jpg 424w, https:\/\/www.harleytherapy.co.uk\/counselling\/wp-content\/uploads\/strike_debt_rolling_jubilee-e1395237098275.jpg 573w\" sizes=\"auto, (max-width: 283px) 100vw, 283px\" \/>Drowning in debt and depression can lure us into <\/strong>the obsessive belief that we are an <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/overcoming-fear-of-failure.htm\">utter failure<\/a>. That only vast amounts of money can change our lives or see us happy again.<\/p>\n<p><strong>These are not true statements<\/strong>, but what are called &#8216;<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/what-is-cognitive-behavioural-therapy-cbt.htm\">cognitive distortions<\/a>&#8216;, <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/making-assumptions.htm\">assumptions<\/a> we mistake as real.<\/p>\n<p style=\"text-align: left;\"><strong>Anyone can end up in debt. It doesn&#8217;t mean you are flawed.<\/strong> It can mean things like that while other people perhaps had parents teaching them about money, you didn&#8217;t, so were doing the best you can. Or you were given bad advice, or had a <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/my-job-is-killing-me-losing-the-will-to-live.htm\">bad year work wise<\/a>.<\/p>\n<p><strong>And you don&#8217;t have to be rich to be happy. Most people find that instead they need<\/strong> to <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/something-bad-is-going-to-happen.htm\">feel safe<\/a>, or like they are on the right path. If you make certain steps to deal with your debt, alongside with certain steps to deal with your underlying<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/mild-depression.htm\"> depression<\/a> and shame, you might find that you can get out of that <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/types-of-depression.htm\">hole of depression<\/a> far before you actually resolve your debt.<\/p>\n<h2>Coping with financial worries<\/h2>\n<p>The<a href=\"https:\/\/www.nhs.uk\/mental-health\/advice-for-life-situations-and-events\/how-to-cope-with-financial-worries\/\"> NHS suggests the following<\/a> when dealing with debt and <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/how-to-stop-being-depressed.htm\">depression<\/a>:<\/p>\n<ul>\n<li>stay active, making an effort to see friends and keep up hobbies like exercise<\/li>\n<li>face your fears (so get help with debts instead of putting your head in the sand)<\/li>\n<li>don&#8217;t just turn to drinking alcohol<\/li>\n<li>keep up your daily routine.<\/li>\n<\/ul>\n<p><strong>We&#8217;d suggest another very important tip &#8212;<\/strong> seek support. Shame can mean we think nobody will understand or find it hard to reach out (our article on &#8216;<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/reaching-out-support.htm\">how to ask for help<\/a>&#8216; can be a good read here). But remember most of our friends generally want us to be happy, and do want to help. They don&#8217;t want to see us consider harming ourselves just because of something like money.<\/p>\n<h2>Can debt counselling help?<\/h2>\n<p><strong>Debt counselling, talking to someone who deals with debt strategy,<\/strong> is very helpful and can be a free, government funded service here in the UK. Look into charities like the <a href=\"https:\/\/nationaldebtline.org\/\" target=\"_blank\" rel=\"noopener\">National Debtline<\/a> and <a href=\"https:\/\/www.stepchange.org\/how-we-help\/debt-counselling.aspx\" target=\"_blank\" rel=\"noopener\">Step Change.<\/a><\/p>\n<p><strong>Actually then don&#8217;t overlook psychological counselling for debt. Again, depression<\/strong> leaves us very foggy headed. And anxiety can see us making illogical, panicked decisions.<\/p>\n<p><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/dream-therapy.htm\">Working with a talk therapist<\/a> <strong>means you can experience the relief of a safe, non judgmental space to finally unload <\/strong>your money worries. You can also learn how to:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/balanced-thinking-benefits.htm\">manage your thoughts<\/a> so you don&#8217;t end up too depressed to function<\/li>\n<li>control your anxiety so you don&#8217;t make illogic decisions<\/li>\n<li>make better choices that help over hinder you<\/li>\n<li><a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/goal-setting-in-therapy.htm\">set useful goals<\/a> then actually achieve them<\/li>\n<li>figure out what you really want from your life and career so that you feel more inspired to take action than ever before<\/li>\n<li><a href=\"https:\/\/www.harleytherapy.co.uk\/mindfulness-help-guide.htm\">learn mindfulness<\/a>, a tool proven to lower<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/stress-vs-anxiety.htm\"> stress and anxiety<\/a><\/li>\n<li>recognise the<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/find-your-inner-resources.htm\"> inner resources<\/a> you already have<\/li>\n<li>feel better about who you are and what you offer<\/li>\n<li>learn<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/difficult-conversations-ways-to-manage-them.htm\"> better relating skills<\/a> so debt doesn&#8217;t leave you<a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/male-loneliness.htm\"> lonely.<\/a><\/li>\n<\/ul>\n<h2>Low cost or free support for debt and depression<\/h2>\n<p><strong>But <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/therapist-costs-makes-you-money.htm\">doesn&#8217;t a therapist cost too much<\/a>? How can that work if you are drowing in debt? <\/strong>Note that nowadays there are many options for <a href=\"https:\/\/www.harleytherapy.co.uk\/counselling\/low-cost-therapy-free-counselling-services.htm\">free or low cost counselling<\/a> (our sister site of<a href=\"https:\/\/harleytherapy.com\/?utm_source=Harley%20Therapy%20Blog&amp;utm_content=Post%20End\"> therapy listings<\/a> even has many low cost therapists available). Otherwise, consider\u00a0 a support group. Or even an online forum where you can find support of others working through debt and depression and don&#8217;t even have to use your real name (such as <a href=\"https:\/\/forums.moneysavingexpert.com\/categories\/debt-free-wannabe\" target=\"_blank\" rel=\"noopener noreferrer\">the one at Money Saving Expert<\/a>).<\/p>\n<p><strong><span style=\"color: #800080;\">Need to talk to someone about debt and depression? We offer <span style=\"color: #333399;\"><a style=\"color: #333399;\" href=\"https:\/\/www.harleytherapy.co.uk\/depression-counselling-london.htm\">therapy for depression<\/a><\/span> in three central London locations or over the internet. On a budget? Our sister site lists affordable <span style=\"color: #333399;\"><a style=\"color: #333399;\" href=\"https:\/\/harleytherapy.com\/therapists?specialism=depression\">UK-wide therapists<\/a><\/span> you can book as soon as tomorrow.\u00a0<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>L-Wren Scott, Debt, and Depression. Does debt lead to depression? How can you manage your low mood and anxiety around money troubles?<\/p>\n","protected":false},"author":8,"featured_media":136467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"yes","_lmt_disable":"no","footnotes":""},"categories":[4],"tags":[280],"class_list":["post-5379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-depression","tag-debt","has_thumb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Debt and Depression - What You Need to Know - Harley Therapy\u2122 Blog<\/title>\n<meta name=\"description\" content=\"L-Wren Scott, Debt, and Depression. Does debt lead to depression? How can you manage your low mood and anxiety around money troubles? 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