Impacts on relationships with family and friends

The stress experienced as a result of debt problems can easily impact on relationships between us and our family and friends. Contributing to arguments about money, tension within the home and especially between partners and even children and parents.

It is not uncommon for adults under stress to take their frustrations out on their children and even defenceless pets. Other ways debt impacts on children and the family can be when parents feel guilt at the restrictions as a result of the debts, not being able to contribute to leisure activities, buy clothes, pay for school trips, clubs, holidays, even birthday or Christmas presents. All of which increases yet even more stress, anger and feelings of guilt.

Children can also experience enormous pressure and emotional stress at not being able to help their parents, giving rise to feelings of inadequacy and being a burden on their parents.

Many parents will seek new ways to earn additional income through working shifts, taking on other jobs and some even resort to criminal activities in their desperation, potentially taking away precious time from children and quality family interaction.

Debt can lead to feelings of guilt, loss of confidence, low self-esteem and degradation, all arising from a perception of those in debt not being able t provide for their family the way they would like.