According to recent studies, debt can have a significant impact on the mental health of men. Financial strain from debt can lead to stress, anxiety, depression, and other mental health issues. Here’s what you need to know about the effects of debt on men’s mental health, based on recent studies and research conducted in Canada and the United States.
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 and to report higher levels of stress and anxiety as a result.
Another study conducted in the United States and published in the Journal of Family and Economic Issues in 2019 found that men were more likely than women to experience debt-related stress and to report negative mental health outcomes as a result. 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 health of men. Financial strain from debt can lead to feelings of helplessness, hopelessness, and anxiety, which can exacerbate existing mental health issues and increase the risk of developing new ones.
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.
In conclusion, recent studies and research conducted in Canada and the United States suggest that debt-related stress can have a significant impact on men’s 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
Read more about mental health and debt on our site:
- The Link Between Mental Health and Debt in Canada: Understanding the Connection and Finding Solutions
- The Hidden Costs of Debt: How it Affects Your Physical Health
- The Invisible Cost of Debt: How it Affects Your Emotional Health
- How Seeking Help for Debt-Related Stress Can Boost Your Cognitive Function
- The Cost of Debt: How Children Pay the Price
- Women and Debt: The Mental Health Toll
- From Addiction to Recovery: How Debt Can Hold You Back and CreditLift Can Help
