 Debt is a common financial problem that affects millions of people around the globe. While it is commonly regarded as a financial issue, it can also have a significant effect on a person's mental health. Debt, according to scientific evidence, can cause tension, anxiety, depression, and other mental health issues. What does the research say about debt and mental health? Debt has been shown in studies to have a negative effect on mental health. According to one study performed by the University of Southampton, people who were in debt were three times more likely than those who were not in debt to have a mental health problem. Another research conducted by the University of Nottingham discovered that people who were in debt were more likely to suffer from anxiety and depression than those who were not. According to these findings, debt can cause serious mental health problems. The stress of debt management, the fear of being unable to repay it, and the strain of dealing with creditors can all add to feelings of anxiety, depression, and other mental health issues. What role does Apple pay later play in this? Users can now make purchases and pay for them with Apple Pay afterward. While this may appear to be a convenient option, it can contribute to additional debt and potential mental health issues. According to studies, people are more likely to overspend when they use credit or purchase now, pay later services. This can result in increased debt and financial stress, which can have a negative effect on mental health. Individuals must be mindful of their spending habits and only use services like Apple Pay later if they can handle their debt responsibly. It is also critical for businesses like Apple to provide sufficient education and resources to their users on responsible spending and debt management. Debt Management and Mental Health Promotion If you are in debt, it is critical to seek assistance and resources to manage your finances and encourage mental well-being. This may include consulting with a financial counselor, developing a budget, and getting help from mental health professionals. Companies can also help to promote responsible spending and debt control. This can include providing users with educational resources and tools to assist them in managing their money and avoiding overspending. To Recap. Debt can have a negative effect on one's mental health, causing stress, anxiety, and depression. As new services such as Apple Pay later become available, it is critical that individuals be aware of their spending habits, and that businesses provide sufficient education and resources to promote responsible spending and debt management. Individuals can live healthier and more fulfilling lives by managing debt and encouraging mental health. Hi, I'm Amy Golding, Director of Psychology for the Workplace Mental Health Institute. We hope you liked the video. If you did, make sure to give it a thumbs up. We have more and more videos being released each week. So when you subscribe, you'll get a notification letting you know when a new one's just been published. So make sure to hit that subscribe button and don't miss out on this vital information for yourself, your colleagues, and your loved ones.