
Carrying a Lot of Debt? It’s Lowering Your Happiness
Are you feeling the weight of mounting debt? You’re not alone. 48% of Canadians are grappling with excessive debt (non-mortgage). The impact is not just on the wallet—it’s directly impacting happiness and well-being.
Study Finds Higher Debts Increase Unhappiness and Suicide Risk
Research published in the American Journal of Epidemiology reveals that individuals facing significant financial hardships are more likely to experience stress, anxiety, and depression.
The constant worry about paying bills and managing finances can lead to feelings of hopelessness, making it challenging to find joy in daily activities.
The study finds that people with high debt are 10-20 times more likely to contemplate suicide than compared to someone earning an average or above average income.
Debt doesn’t just strain your bank account; it takes an emotional toll as well. Financial stress often leads to tension among family members and friends. Arguments about money can erode trust and create a hostile home environment.
Moreover, the persistent anxiety over finances can diminish your enjoyment of hobbies, work, and social interactions. It can make even simple pleasures feel burdensome.
Debt Is Overwhelming, Don’t Fight it Alone With over 50 years of combined experience, we have helped people like you reduce, manage and eliminate debt |
Recognizing the Signs of Financial Distress
Debt can subtly permeate every aspect of your life, often showing up in ways you might not immediately associate with financial issues. Emotionally, you may experience persistent anxiety, irritability, or feelings of hopelessness.
Physically, this stress can manifest as sleeplessness, constant fatigue, headaches, or changes in appetite. Behaviorally, you might find yourself withdrawing from social activities, neglecting responsibilities, or relying more heavily on substances like alcohol or cigarettes to cope.
It’s crucial to pay attention to these signs because they indicate that financial stress is significantly impacting your well-being. If you notice that worries about money are consuming your thoughts, affecting your relationships, or hindering your performance at work, it’s time to take action.
How Caplan Debt Solutions Can Help You Break Free From Debt Worries
At Caplan Debt Solutions, we’re dedicated to helping Canadians overcome debt and rediscover happiness. Our services include:
- Debt consolidation – Simplify your payments by combining multiple debts into one manageable monthly payment, often with a lower interest rate.
- Consumer proposals – We can help you negotiate a legally binding agreement to repay a portion of your debt, making it easier to manage.
- Credit counselling – Receive personalized advice and strategies to manage your debt effectively and prevent future financial issues.
- Bankruptcy assistance – If necessary, we’ll guide you through the bankruptcy process to provide a fresh financial start.
Book a free, no-obligation consultation with qualified debt specialists today. With over 50 years of combined experience, our team has helped people and companies across Manitoba minimize, manage and eliminate debt.
See how we can help you turn the page to a debt-free, happier chapter in your life.