HealthDay (5/15, Dotinga) reports “people with short-term debt, such as overdue bills or credit card debt, are more likely to be depressed than those who carry long-term debt through mortgages and other big loans,” according to a study published in the May issue of the Journal of Family and Economic Issues. For the study, researchers “relied on a national survey of more than 13,000 Americans in 1987-1989 and follow-up interviews of about 10,000 of those people in 1992-1994,” focusing on adults of working age. Investigators found that “a 10 percent increase in short-term debt was associated with a 24 percent increase in depression symptoms.” The study’s lead author suggested that “providing people with protection from debt might lead to mental health benefits.”
Related Links:
— “Short-Term Debt Can Depress More Than Your Finances,” Randy Dotinga, HealthDay, May 14, 2015.