Depression And Debt

Most people will acknowledge a link between depression and debt, but usually think that it is the debt that causes the depression and that's true crippling financial pressure does lead to depression. In my case it was the other way round though. I have lived with relatively mild depression most of my adult life. Most of the time it's ok and I can function reasonably well. I have a job, I've raised children and I derive some pleasure from life. On the down side I have periods when I can barely get out of bed the weeks leading up to these points and for some time after I don't function very well if at all. I am kind of used to these cycles now and incidently have just come out of a three month period of non functionality. What occurred to me recently was that it was not my debt that was making me depressed but that it was my depression that had led to my debt. Several years ago I had credit offers thrown at me from every angle. I must say I didn't recklessly run up my debt on purpose it just got out of control and it started with 1 credit card and a credit limit of just £200. It took seven years to get into this mess and who knows how long to get out of it. When I am not well everything is an effort as I mentioned just getting out of bed is a monumental achievement so doing the things that I have to do on a daily basis like shopping, cooking, cleaning, working etc are really difficult so I naturally 'coped' by just doing the shopping ie getting a trolly putting in it whatever I 'needed' to feed us without much thought to a budget then pay with a credit card. if we needed petrol it went on the card if something broke in the house like the cooker I bought one, because I needed it regular direct debits were keeping the credit cards happy. if the card payments were becoming too high I transferred them to a 0% deal always thinking that it was going to get me out of it eventually. Then when several cards were being paid by DD I thought that it was getting complicated and thought that a consolidation loan would simplify things. One payment towards my debt and the rest I could live on. It didn't work out that way and after the loan payment I didn't have enough to live on and turned back  to the cards. All the time I had the best of intentions to manage it. Never once did I think I couldn't pay it back. Well here I am and I've just woken up unlike Gorden Brown I have realised that you can't spend your way out of financial disaster. I am trying to take control. I now have a basic bank account, a budget sheet which includes a small amount each week to save for those emergencies. My creditors may have to wait for some time for their money. I now have no credit options so my essential living expenses have to come first. I will pay off my debts eventually but in the mean time It feels good to know that if I buy it it's because I have the cash to do it. Credit Kills!

creditkills creditkills
36-40
Feb 11, 2010