You have seen yourself in situations where: the phone keeps ringing with calls from creditors wondering when that bill will be paid – you don’t even answer them anymore. Light can be cut at any time. Those in debt can suffer from anxiety, stress and pressure from not keeping up with their bills. In many cases, people even get depressed because of debt , as the financial issue totally influences mental health.
With the fragile economy in the country, it is becoming increasingly common to find people with dismay for lack of money , as their salary is barely enough for basic expenses, and problems caused by debt , either because you lost your job and still couldn’t make it. repositioning or even because you don’t know how to get organized financially. That phrase that says “debt gets people sleep” is true and generates a lot of headache and serious health problems.
Default Rate in Brazil
According to a survey conducted in April 2019 by the National Confederation of Shopkeepers (CNDL) and the Credit Protection Service (SPC Brazil) , the country ended the month with 62.6 million negative people, a figure that represents more than 40%. of the Brazilian adult population
The study also found that most of the pending issues (52%) are related to banks, involving credit card debt, overdraft, financing and loans, which usually have exorbitant interest rates. Failure to pay debts like these turns into a big snowball, as interest is charged on interest. Then come the commerce (17%), communications (12%) and water and light (10%) segments.
More than half of defaulters are between 30 and 39 years old. According to Ronnie Lizarro Junior, President of SPC Brazil, “It is precisely at this stage of life that the credit race is inevitable, as many have already started families, have children and make more financial commitments. In a time of crisis, it can be difficult to balance the budget without control and discipline. ”
Problems caused by debt
The consequences of indebtedness are large and can lead to the loss of assets, the sale of assets to repay debt, and the payment of exorbitant interest and punitive fines, becoming a real snowball.
Once a person has a negative name on a credit restriction record, such as the Central Credit Protection Service (SCPC), that person’s chances of getting credit in the square again decrease, causing the problem caused by debt. and charges only increase. By being charged and living with a constant sense of alertness and worry about debt, more serious illnesses can appear. That’s where the danger begins!
In 2016, USP surveyed people who had outstanding debts. The result showed that 80% of respondents suffered from anxiety and depression because of debt. If the country has nearly 63 million indebted people, nearly 50 million people suffer from the disease and this is reflected in a number of everyday problems.
To understand more about the subject, we talked with the psychologist Delia Lunha, from the Therapeutic Space Live Today . According to her, “the main symptoms present in depressed people with the issue of debt are insomnia, increased blood pressure, mood swings and also family conflicts, since the financial issue encompasses well-being and social life.”
Delia further comments that “the body speaks and gives signals. When the person is in debt and the charges start, this generates a stress that, if not taken care of, will generate greater anxiety, triggering feelings of sadness. Often, the person does not realize this and only notices when they begin to isolate themselves or no longer want to leave home. Each organism reacts differently, but an indebted person is more likely to have depression. ”
The psychologist also comments that other diseases can also develop, because “many people also come with ulcers, coming by medical referral. They develop the disease because of the stress and anxiety that comes from being unable to pay a debt, always being tangled, unable to organize themselves to pay, and unable to recover. ”
Delia explains that “the chances of a person with low self-esteem having financial problems is also high, as these individuals often trigger compulsive buying processes in which the person is not organized and does not plan on their budget, wanting to have a status that is not yours to compensate for this problem. ”
How to get out of debt
To avoid the snowball effect, it is best to prioritize the payment of debt with the highest interest, which is usually bank and overdraft debt.
One option that can be considered is replacing debt with one that charges lower interest, as with Carecredi loans .
Carecredi Property Guaranteed Credit is a modality that allows you to use your property to earn high value money without having to sell it. Advantages include low-interest installments and long repayment terms , all done in a 100% online process that reduces paperwork.
How not to get into debt
So as not to get into debt, the first step is to learn more about financial education and find that taking care of your money is not as complicated as you might think. Once you have a healthy relationship with your personal finances, managing your budget becomes easier.
To help you with this task, check out the financial education best practices checklist . This will help you learn good financial guidance practices that reflect your day-to-day and monthly planning, as well as better control of spending and bills, ending the year in blue .
If you prefer, download the free personal finance spreadsheet , which helps you organize your accounts to save a little money that can revert to investments.
Having depression because of debt is very serious and affects a large portion of people who are indebted in Brazil. You do not need to lose sleep because of problems with lack of money! Come to Carecredi that we can help you by offering loans at the best rates in the market to get you out of the red and organize your financial health.