The negative side effects of having debt

If you are a regular follower of this blog, then you will know that I have just spent a week vacating with the in-laws in beautiful Cyprus. You can read more on that here.

So what is the most natural thing to do when you are on vacating … well thinking 🤔 off course. I think a lot. Probably too much.

6 days in to the vacation it daunted on me. I had thought of my stock portfolio, the brexit agreement, even Trumps withdrawal of US forces from Syria. But not once had I thought about debt.

Being in debt, and thinking/worrying about debt can be such a strain on your wellbeing.

Why did it daunt on me; well I guess being together with different people (my sister-in-laws) for a prolonged time period will naturally bring insights into their private realms. With out going into too much detail, one SiL has quite obviously “over” build their private estate, resulting in a rather large mortgage pile.

Expanding my thoughts, I remember my own father – May he Rest In Peace – going bust with his business, and being in a long liquidation and debt relief process at a late stage in life. I can think about my uncle filing chapter 11 for his huge farm. And I can even think back 8 years when I was fired from my dream job with my 2nd newborn on my arm. All that amounts to a lot of potential debt thinking/worrying.

All the more reason to actually stop up, and appreciate the stage in life and financial well-being I have reached now. You can get the back ground info here;

I think all of the above and then some is probably the reasons why I am now devoted to FIRE or at least the FI part of FIRE, and have renounced debt almost entirely. Then it also helps reading very depressing literature like The Grapes of Wrath – Review here. OMG 😱 the hardship debt can bring.

In addition to some of the worrying thought processes debt will lead to, it is also shown that there is a wide range of more severe side effects that too much indebtedness can lead to. This includes among other;

✅ Headache

✅ Stomach upset

✅ Anxiety and depression

✅ Lack of sleep

✅ Stress

✅ Resentment

✅ Denial

✅ Frustration and anger

✅ Regret

✅ Shame

✅ Fear

There is no doubt in my mind, that experiencing one or more of the above feelings/emotions over a prolonged period of time will undoubtedly have the potential to negatively affect your health, both mentally and physically.

On a personal note, I luckily have not been in a particular in-debt state, but have seen people around me who has suffered the negative consequences.

How do you feel about debt, and are you conscious/confident in your current debt level?

~This post contains affiliate links, meaning, at no additional cost to you, if you click through an affiliate link and make a purchase, I may make a commission~

Please check out these excellent ressources for adopting a financially independent & minimalistic lifestyle;

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