The rise of easy credit, particularly through Buy Now, Pay Later schemes, distorts the perception of spending, leading consumers to feel less emotional pain when purchasing. This disconnection encourages overspending as individuals underestimate long-term costs. Debt profoundly impacts mental health, with strong links to anxiety, depression, and risk of suicide across diverse regions including India, the UK, and the US. Financial shame hinders help-seeking behavior, exacerbating mental health struggles. True financial literacy must encompass emotional awareness beyond budgeting skills to effectively address these issues.
Easy credit distorts spending, creating a false sense of affordability that can lead to stress and anxiety. Many consumers underestimate the long-term costs associated with Buy Now, Pay Later schemes.
Debt is strongly linked to anxiety, depression, and even suicide. This disturbing correlation is evident in nations like India, the UK, and the US, where financial burdens weigh heavily on mental health.
Collection
[
|
...
]