Stress from credit card debt causes sleeplessness, broken relationships

Stress from credit card debt causes sleeplessness, broken relationships
Be careful how much you use those cards, and don't let your debt get out of hand. (Source: Pixabay)

(WWBT) - A new report says credit cards are causing a great deal of physical and emotional stress on Americans with large amounts of debt, even leading to sleepless nights.

That report is from LendEDU, a personal finance marketplace. It's easy to see why the results are what they are. Americans have $11.9 billion in credit card debt.

LendEDU surveyed 1,000 credit card holders in the U.S. who were carrying a balance of more than $5,000. The average respondent held a balance of $13,884, and 88 percent said they had stress due to credit card debt with 33 percent saying it was a daily struggle.

More than half - 55 percent - reported sleep loss, and 30 percent said they get headaches.

It's taking a toll on relationships as well. Credit card debt had been attempted to be concealed by from a partner by 31 percent of respondents, and 17 percent said their credit card debt was a reason why their relationship ended.

Mike Brown, the research analyst behind the survey, said the big takeaway is to not get overextended.

"Don't take out credit card debt - make sure you spend within your means," Brown said. "Try as hard as you can not to carry a credit card debt balance, because once that starts happening, then you have APR charges and it just keeps spiraling out of control."

Start a budget and try to pay off your credit card each month. Once you start letting credit card debt carry over each month, it's a tough habit to break."

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