Using Credit Cards and Their Impact on Your Mental Health

Using Credit Cards and Their Impact on Your Mental Health

Last update: January 21, 2023

Credit cards let you do it buy things and money you don’t have. That is the danger of these main characters today. In fact, we could write books on the subject. However, in this article, we will focus on credit cards and mental health.

In today’s world, physical money is growing in popularity. So, credit cards are very useful and useful because it means you don’t have to carry cash with you. They also make payment easier and more secure. In fact, it cannot be denied that credit cards facilitate transactions and represent a major advance in the financial world.

The problem is not the credit card itself, but the people who use it. After all, it is very easy to get into debt using these cards, especially for those who do it regularly. impulse buy. The problem is seen in time and duration. Paying is not easier than buying and, in many cases, it leads to one of the modern problems: financial crisis.

If you find yourself in a boat that’s always leaking, the energy put into changing the boats is likely to be more effective than the energy spent fixing the leaks.”

-Warren Buffett-

Credit card use and mental health

Going without money has many advantages, but it also leads to some problems. The first of these things is what you do you forget how many you are for sure expenses. If you use physical money, you can quickly see how the amount decreases after making a purchase. But, digital currency is seemingly endless.

Credit cards also inspire misconceptions. When you use a credit card, you start from the assumption that you have “x amount of money” on that card. You confuse owning that amount with borrowing it. Therefore, it is easy to forget the fact that, with every purchase made on credit, you are creating new debt.

You also ignore that, when buying with a credit card you are paying twice. On the one hand, the loan service is for sale. According to the laws of each country, there are special prices. On the other hand, the product or products you want to buy, and its price will vary depending on the time of payment. Therefore, although it may seem like a simple transaction, in reality, it means that you are entering a complex network.


The biggest risk of using a credit card is to do so without conscience and perhaps falling into excessive debt. This happens when your debt is higher than you can pay in a certain period of time, usually a month. At that time, you will not only face a financial problem but it will also affect your mental health.

In fact, the psychologist, Enric Soler, from the Universitat Oberta de Catalunya (Spain) says so. there is a mathematical formula for anxiety. It is as follows:

Stress = Perception of threat/Perception of coping resources

Soler points that out the higher the perceived threat and the less resources available to deal with it, the greater the anxiety. Therefore, if the threat is not enough money to eat (very high) and lose your job (zero / very low), your anxiety will be very high. This is what happens when you have too much debt. And it’s nothing new to go into debt as a result of misuse of a credit card.

Do the right thing

Like it or not, materials are finite. So, most of us are on a tight budget, and exceeding them will only bring us problems.

When it comes to financial problems, with a credit card, you have to be careful. It is a lawit should only be a means of payment and not a source of debt. A person who has the desire to make urgent purchases should not have a quick loan service in hand.

It’s very simple to owe and a credit card. In the long run, this causes anxiety that affects your health and relationships with others. When combined, it becomes a risk factor for the disease or developing a chronic problem. Therefore, it is very important to educate yourself in financial terms. It’s just as important to review your shopping and credit habits. They can be the key to greater success.

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