Debt struggle adds to depression
Depression and mental illness will increase as millions struggle to cope with debts and money problems during the economic downturn. People who owe money are more likely to suffer from psychological problems, a study from the Nottingham School of Economics found.
Researchers examined information from the Families and Children Survey, which questions 8,000 people a year on issues including their financial situation and health.
In 2005 13 per cent of respondents who reported debt problems and 17 per cent of those reporting financial stress also reported mental health and psychological concerns. At the same time fewer than 3 per cent of people without debt or financial stress said they were
suffering from psychological problems.