According to recent studies, debt can have a significant impact on the mental well being of men. Financial strain from debt can lead to stress, anxiety, depression, and other emotional health issues. Here’s what you need to know, based on recent studies and research conducted in Canada and the United States.
The Impact of Debt on Men’s Mental Health
A 2018 study conducted in Canada and published in the International Journal of Mental Health and Addiction found that men were more likely than women to experience financial strain from debt. The study found that financial strain was a significant predictor of poor mental health outcomes, including depression and anxiety, among both men and women. However, men were more likely than women to experience financial strain due to debt. They were also more likely to report higher levels of stress and anxiety as a result.
Another similar study published in the Journal of Family and Economic Issues in 2019 found that men were more likely than women to experience debt-related stress. The study found that men who reported higher levels of debt-related stress were more likely to experience symptoms of depression and anxiety than women who reported similar levels of stress.
These studies suggest that debt-related stress can have a significant impact on the mental well-being of men. Financial strain from debt can lead to feelings of helplessness, hopelessness, and anxiety. Unfortunately, this can exacerbate existing mental health issues and increase the risk of developing new ones.
What you should do
If you’re experiencing debt-related stress, it’s important to seek help from a qualified professional. Financial counseling, therapy, and other resources can help you manage your debt and develop coping strategies to reduce stress and improve your mental health.
If you’re experiencing financial strain from debt, it’s important to seek help and support to manage your stress and improve your overall well-being.
Additional Resources:
Suicide Prevention Hotline – 1.833.456.4566.
Calgary Counselling Centre – Open to all Albertans
Canadian Mental Health Association
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