5 Ways Your Debt Stress Is Costing You More Than Just Money

March 9, 2021 | Peyton Sawyer

debt stress

Your bank account is empty and there is a stack of bills on the table. Some are collectors' notices. Sitting at the table is now something you avoid because you have no money to deal with all those notices. You have debt stress.

Debt stress affects people in ways they don't always see upfront. It plays with our minds and can even affect us physically. For instance, a 2016 article from Psychology Science published the results of a study of 33,720 families in the United States.

The study showed that families, where there were higher unemployment levels, were also those most likely to buy pain killers over the counter.

Find Out How Much Your Debt Stress Is Costing You 

5 Ways Your Debt Is Causing You Stress

1. Low Self-Esteem.

Being broke affects our psyche in ways we don't always realize. It makes people feel like losers, which affects self-esteem. Debt stress particularly makes the family breadwinner feel like they aren't doing enough to take care of their family.

2. Lower Thinking Skills.

It is a scientifically proven fact that debt stress causes less cognitive function, causing problems with people's learning. This can prevent you from learning a new skill or finishing an education that would lead to a better job and better income.

3. Trouble With Relationships.

Debt stress is a major factor in marital discord and divorce. It can also affect your relationships with your children because you can't provide for them the way you want. You miss a lot of their functions because you are working more hours to pay bills.

4. Physical Symptoms

Body pains and illness can be directly associated with debt stress. Some people even get stomach pain or nausea just remember a financially troubling time. Other physical factors include sleep loss, eating disorders, panic attacks, and an increase in paranoia. Some people are too afraid to answer the phone or the door.

5. Addiction Issues

Those in debt stress sometimes turn to addictions. As stated in the study, several high unemployment households matched over-the-counter pain-killing purchases. People can turn to things like alcohol, cigarettes, and pornography too. Not only does this affect things like relationships and money, but addictions affect health.

All of this debt stress gets worse if there is an emergency where people need money quickly.

Funding for Emergencies

One of the problems with many families is that they have little to no savings. This is a real issue when an emergency hits like a car repair or home repair.

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Advantages of Payday Loans

Fast Payday Loans of Kentucky LLC can help you in these emergencies. It offers payday loans from $100 to $500. This can help with those surprise expenses or bridge a payday gap when you are in between jobs.

There are some advantages of getting an online payday loan with Fast Payday Loans of Kentucky LLC including:

  • You can take out a small loan where banks and traditional lenders typically want larger amounts before they issue a loan.
  • You can get money quickly, as fast as the same day. This is important when there is a sudden emergency expense that has to be taken care of now.
  • Payday loans require no collateral. Your job is your collateral and you pay it back with your next paycheck.
  • All credit types are welcome. At Fast Payday Loans of Kentucky LLC, bad credit and no credit are okay. We help all types of people in all types of situations.

The Loan Process

Getting a loan at Fast Payday Loans of Kentucky LLC is a simple process. All that is required are a driver's license or state id, proof of an active checking account in your name by submitting a blank check, and the most recent pay stub you have.

You can begin the process by going online and submitting the request form on the Fast Payday Loans of Kentucky LLC website. Once you do, a team member will call you to help you through the rest of the process.

Who Gets Approved?

While we can't guarantee everyone gets approved, at Fast Payday Loans of Kentucky LLC we do approve those with less than stellar credit histories.

What Should You Use the Money For?

A payday loan should be used for emergencies only. It is designed to help those in really tough financial situations when things like a car repair or there is an unexpected medical expense.

Get Kentucky Payday Loans For Help

There are times when a payday loan near me can help you meet an emergency need when there aren't other options. It can help you stay independent without going to family or friends.

These types of loans can relieve the stress of an unexpected event while ensuring you can pay it back without a lot of problems. Contact us through the website to see if a payday loan is an answer for your situation.

Don’t drown under your debt stress when you don’t need to. Let Fast Payday Loans of Kentucky LLC help you move forward with a same day payday loan.