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Talking about financial difficulties is never easy.
Economic hardship can weigh not only on your wallet, but also on your mind and emotions.
Feelings of anxiety, shame, and frustration are common when facing debt-related challenges. But it's important to know that there are mental strategies—as well as practical solutions—that can help you navigate financially difficult times with more calm and clarity.
We spoke with Chiara Gazzano, psychologist and psychotherapist, an expert in communication processes related to debt, to help us better understand the connection between financial struggles and mental well-being—and to share some practical advice for managing financial stress in a healthier way.
When Debt Becomes a Mental Burden: How to Face Financial Stress.
Most people struggling to keep up with payments experience a range of negative emotions that can deeply impact their psychological well-being. Shame, anxiety, anger, fear, and frustration are all normal and understandable reactions. However, if left unmanaged, these feelings can affect one’s mood and, over time, contribute to the development of depressive states.
“One of the most critical aspects is how debt-related distress affects self-esteem and self-perception, the sense of failure can easily spill over beyond the financial domain, leading to a negative view of oneself and one’s abilities.
This process is often fueled by negative thinking patterns that distort reality. One such distortion is overgeneralization, where a person draws sweeping conclusions from a single situation. In the case of debt, this might mean internalizing the problem and seeing oneself as entirely inadequate, thus amplifying the issue. This kind of thinking can be hard to identify and even harder to challenge.
On top of that, many instinctive reactions to debt distress—while offering short-term relief—can actually make the situation worse in the long run.
Avoiding the issue, procrastinating, or withdrawing from others may temporarily reduce anxiety, but over time, these strategies tend to increase stress levels. They can also strain family relationships, friendships, and work life. For individuals who are particularly vulnerable, this emotional burden can even lead to or worsen compensatory behaviors, such as dependence on alcohol, drugs, or gambling” explains Dr. Chiara Gazzano.
So, what can we do?
Beyond individual specificities, there are some constructive mental strategies that can help manage the situation with greater clarity and serenity.
✅ Redefine and normalize the concept of debt and money.
First of all, it is necessary to overcome a culturally distorted view of the concept of debt. In itself, access to credit is not something negative, but a financial strategy to amplify one's economic resources, which can be allocated to personal or professional projects that may lead to growth, development, and increased income. Of course, like any tool, it must be managed with awareness and prudence. Financial distress should also be normalized and seen for what it is: a common, manageable, and solvable situation.
Money does not define a person's value, and debts do not represent a personal failure, but rather a circumstance that can be addressed with the right strategies.
✅ Define the problem and avoid making it a part of your identity.
An economic difficulty is only a part of life, not its entirety. Learning to distinguish the current situation from one's identity helps maintain a more constructive attitude and prevents being overwhelmed by a sense of inadequacy.
Especially at this stage, it could be extremely helpful to learn to differentiate what is within our control from what is not, so we can take targeted actions for change. These actions often align with the thoughts we have about ourselves and our circumstances, offering us more effective problem-solving strategies without devaluing ourselves.
✅ Dont avoid, don't procrastinate.
Facing the problem is the first step toward solving it.
Talking to a trusted person or professionals who can provide expert advice can help clarify things, reduce anxiety, and find practical solutions to manage the situation in the best possible way.
Asking for help is not a sign of weakness; on the contrary, it can help us become "experts in ourselves."
Awareness and knowledge can make us free to act responsibly, improving the quality of our lives.
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