When the word “DEBT” surfaces or echoes in the ear, it introduces fear and anxiety to your heart or makes you uncomfortable. Some even panic, worrisome or become pensive and for others, their mind wanders off. Others even think their lender is around the corner, making their heart skip.
When in debt you move from paycheck to paycheck. You anticipate every salary coming and after budgeting, you realize nothing is left because of debt. Most times, you feel bad because you will be settling debt which makes you remorseful. Debt can cause serious emotional destabilization and it affects people differently. That’s why people handle debt differently. Knowing why you are in debt and how to control it is very important.
More debt is because of credit cards, flamboyant lifestyle, mortgage debt, household debt, business, and others. When you are in debt, you have issue overhauling your mindset and never think of your finance properly. You feel you are in debt forever and will never leave you.
Why are you in debt you ask yourself series of questions. How did you get into debt? How did debt become a part of your lifestyle? Do you know debt affects psychological and mental impact? Do you know when you are in debt your choices are restricted and actions limited? Do you know debt puts one in confusion? When in debt, there are chances that you can’t solve problem effectively well or even think well. All these questions and more are the great effect of debt on the debtor.

DEBT is an amount of money you incurred by the borrower from the lender to settle an outstanding issue.

                                                    7 IMPACTS OF DEBT
The following below are the negative impact of debt.


When you are in debt what comes to your mind is what is next? Will the debtor come to embarrass you? How do I pay off this debt? When will I pay it off? When will the debtor stop harassing me? You worry about the impact on your family and at work. A higher number of fear currently from people is financial fear of what is next and what might happen. Fear of debtor coming to deprive you of something valuable or cause shame or embarrassment to you.


When you are in debt, you are mad with people around you. You are mad with the lender sending you mails, calls, messages just to remind you of the deadline.
Most times, you transfer the anger to pairs at work, family or friends for no reasons even when the interest rate is higher makes you madder.


You feel stressed up, worrying if you will ever settle the debt. Having enough stress can make you get stressed if you are home jobless or a working class. Stress from debt can make you unhappy. When you are stressed financially, you lack sleep and focus.


When you are in debt, you are mentally down leading to depression. Every time you look at the amount, you get depressed, which affects your mood. When depressed, there is no hope and you experience low self-esteem.


When you are in debt, you are denied a lot of things which puts you off buying things you need, and the debt constantly remind you there is something to settle. Most times, it leads to depth in debt.


When you are in debt, you feel remorseful. You regret ever making the purchase that led to debt and regret not saving money and not planning for your finance.


I heard of cases where the person in debt could not harbor the shame and disgrace the debt caused him, he committed suicide. I read of few cases in the paper about a wealthy person in debt that died because of debt. He had high blood pressure, fell to the floor and passed away.



You are in debt because you never take time to consider your debt, know how much your debt is and how long it takes you to settle it. You can’t remember when you incurred the debt and how it accumulated all this while.

You are in debt because of the large house you live in and with huge monthly bills to pay and its eating deep into your finance and making life uncomfortable for you.

You are into debt because of student’s or housing loans and you have been struggling to pay off your loans and still struggling to get a job or salary not enough to start paying off your loans.

Because you can’t say NO to your loved ones, you find yourself in debt. You always buy everything for them. You don’t know when to say you can’t afford it for now that it should be later, and you can’t place a limit on your spending habit.

you are in debt because of frivolous spending which has developed into a habit and has eaten deep into you and killing you slowing and you are totally blind to it. In spending frivolously, you acquire debt, buy in debt and it stops you from saving or investing or starting your side hustle and thinking of your future financially. It’s good to reward one ‘self but should have precaution.

you also accumulate debt because of accumulated interest rates that grows with time and makes you financially uncomfortable.

you are in debt because you are competing with your pairs and want to live up to expectation and don’t want to be the odd one. What so ever your pairs acquire you must buy it just to be able to hang around them.

you are in debt because you don’t see a reason to save and when you are in debt, you have no emergency fund to fall back on. You live paycheck to paycheck because of too much expenses so you can’t save.

you are in debt because you are a gambler, in doing this, you have incurred innumerable losses you are struggling to pay off and you don’t know how to go about it.

You are in debt because your company decided to cut cost and they cut down on income which led to debt and you struggle to balance and manage the expenses incurred too. The salary is lesser, and the expenses incurred seems to be more.

You are in debt because you separated from your spouse and must pay him/her off in assets, cash and others which affected you financially and in every area of your life.

You are debt because you don’t manage your money well, no budgeting for your finance, no record of what goes out and comes in. you just mix everything together. You don’t understand how money works so you are not financially literate. You don’t what’s making you incurred the expenses and what you are really spending more money on.

(13) CARD
You are in debt because you don’t manage your card well. You need to cut the expenses you are accumulating with your card and ought to be dealt with or managed effectively but you use it uncontrollably anytime for pointless payment.

With these, you know what debt all about is, its impact on you and the reasons and many more are in debt. They might either be small or big reasons, but we pay no attention to them till it they cause disgrace and shame because it was not well- managed or handled. I also know there are many more reasons but these thirteen are very important and should be carefully investigated.



RAWLINGS BLOG is about finance, business, short-stories, technology, biography,motivation and personal development. email:Rawlingsunday@yahoo.com FB: Rawlings okpaloafe twitter:Rawlingsunday watsapp:+2347011832778
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32 Responses to 13 REASONS YOU ARE IN DEBT

  1. Pingback: 13 REASONS YOU ARE IN DEBT – The Militant Negro™

  2. Very informative and well thought out. Thank you for your insight. Needed in our consumer driven world.

  3. JLyn says:

    Great article!

  4. I always Love your articles, they are so well written. Tweeted!

  5. Laura says:

    This is a good read that can help you think through reasons that you may not have considered

  6. These are depressingly accurate! It’s good to see it all in black & white, helps us put into perspective our spending &it’s time to take control!
    Thanks for posting, very helpful!

  7. You are so right. Debt really does come with so many feelings. Especially fear of what could happen next. I enjoy all your posts. Great job.

  8. What a great post. The insecurity it brings is not a pleasant one. I feel like with this type of information people can better plan their finances. Thanks for sharing.

  9. notquitesupermommn says:

    A very interesting read, some great take-aways to ponder in this article.

  10. Your’re right we should manage our debts. We need to think of and organize our finances properly. . Fear, anger, stress or denial are not responses that would be helpful in conditions of debt. Ultimately when we find ourselves in debt we have to overhaul our mindset and spending habits.

  11. Very informative article

  12. Lindsay says:

    amazing post! My husband and I decided to buckle down and pay off all of our debts in our first year of marriage. It was tough for sure but the best thing we ever did!

  13. simplywendi says:

    Great post and I completely agree with what your wrote. I would like to make just a side comment……..there are a few of us out there that are in debt to overwhelming medical bills that are no fault of our own and it makes life very difficult.
    Thanks for teaching such important concepts!

    • You are absolutely right. You need to draw plans on how to settle the bills by getting additional source of income to settle the bills and budget certain amount to it with the goal of settling it in certain time frame. Thanks

  14. You explain everything and we have to save ourself from debt. Nice Post!

  15. I’m only owing on my mortgage and student loans (which I don’t need to pay back below a certain income level) and that’s bad enough

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