fbpx

How debt affects the father figure

by | Jun 29, 2022

How debt affects the father figure

Debts impact on father figures

In many families, the father is responsible for providing for the family and protecting his family from harm. But with the current financial pressures and increase in the cost of living, most families will find themselves under immense financial pressure and having trouble making ends meet. National Debt Advisors’ client base is mostly male and mostly between the ages of 29 and 48.

Many South Africans are financially stressed, and the latest Credit Stress Report showed that roughly half of all credit active South Africans are in financial hardship. The distressed property market is a big crises in SA at the moment.

Stats show that Younger low-income men—with little credit, high unemployment, and high debt stress levels—are the most vulnerable in times of economic hardship. Middle-class workers with middle incomes, credit active with families, cars and mortgages have the second highest stress levels. The spike in high credit stress levels is attributed to mortgage and vehicle loan debt combined with job losses that has created a need for credit among South Africans and their ability to repay debt.

Real Estate Assist helps distressed homeowners :

Stop Legal action

Financial strain is often placed on the father figure in a family to support the unit financially, and it is not uncommon for this burden to be kept from the mother. Unfortunately, credit becomes an issue when money is needed but not available; many people find themselves drowning in debt

Debt is a terrible thing. It’s not just the money and the stress, it’s everything that surrounds it. Debt can make you feel like you’re failing your family, or worse yet, that you’re an awful father. No man wants to feel like he’s letting down his children, even if he knows deep down it’s not true. So what does debt do to dad? How does it affect him? What happens when a man feels he has been unable to provide for his kids and their future? We dug into how men handle debt from a psychological perspective and came up with a few common themes on how men deal with this emotional burden of fatherhood and responsibility:

Debt can make a father less confident

If you have debt, it can be stressful. Your financial situation has an impact on your life in many ways. You may feel less confident and less capable than you would if you didn’t have debt. Debt can also make a person feel less in control of his or her life, which can lead to feeling worthless.

Debt causes stress and depression

Debt can cause stress and depression in a family. Debt can cause stress and depression in the community. Debt can cause stress and depression at work. And debt can sometimes make an individual feel like they’ve failed their family, friends, workplace, or themselves.

Debt can create trauma

Debt can be traumatizing. It’s not uncommon to see children suffering from anxiety, depression, and PTSD due to what they’ve experienced while living in a home with debt. For men, this experience often comes after their parents have divorced or their partner has left them. Men are more likely to feel shame about their financial situation than women are, which can lead them to isolate themselves from loved ones out of embarrassment or shame.

If you’re struggling with debt or other financial problems that interfere with your ability to be present in your child’s life—or if you’re worried about your ability to provide for yourself as well as your kids—there are resources available that can help you find solutions and get back on track financially.

Debt can cause sleeplessness

  • Sleeplessness. Stress and anxiety can be a big cause of sleeplessness, and debt can certainly cause stress. If you’re worrying about your financial situation, this could make it difficult to sleep at night.
  • Depression. It’s hard to feel great about yourself if you’re in debt and struggling to pay bills on time every month. This can lead to depression, which can make life harder in many different ways by affecting your happiness levels as well as physical health and mental wellbeing.
  • Health problems. Stress caused by debt may also lead to health problems such as high blood pressure or heart disease; these problems will only make paying off the debt more difficult because they’ll leave less energy for working or earning money when you need it most!
  • Relationship problems with loved ones who support us emotionally when times are tough – whether that be family members like parents or spouses/partners who help us get through tough times financially

Debt wears on a man’s soul

Debt is a burden on the soul, and it can cause depression, trauma, sleeplessness and other problems.

Debt can make you feel like you’re drowning in a sea of bills. You’re up to your neck in debt and struggling to keep your head above water as each month passes by. Your friends are getting married, buying houses and starting families but still have time for fun things like vacations. This can lead to envy which only adds more stress onto your already stressful situation of not being able to afford basic needs like food or shelter.

If this sounds familiar then don’t despair! There are ways that you can get out from under those debts so that all these negative emotions will subside into blissful peace once again.

Keep your Home

Conclusion

If you are currently in debt, then the first step is to come up with a plan for how much money needs to be saved up each month in order to pay off debts over time. Remember that there will always be ups and downs along the way as well as unexpected expenses that arise so don’t get discouraged if things don’t go perfectly at first! Be sure to keep an eye on your debt while also making sure everything else stays balanced too (which means taking care of yourself physically). If this seems impossible because of other responsibilities like children or work commitments then do what’s necessary first before trying again later when more time becomes available.”

Disclaimer: The information provided in this blog is for general informational purposes only and should not be considered legal or property advice. We do not take responsibility for any actions taken based on the information provided in this blog. It is always recommended to seek professional advice for your specific legal or property needs. Contact us (Real Estate Assist) if you seek such advice and we will appoint a professional from our team to be of assistance.

Need immediate financial help?

Related Posts

Please Note: We are unable to provide assistance if you do not own a property. Real Estate Assist specializes in helping property owners who are experiencing challenges with their mortgage payments. If you own a property and require support with debt consolidation without going through the debt review process, our team is here to help you explore options to unlock the equity in your home for necessary family matters.

Financial Distress Solutions

Financial Distress Solutions

Financial Distress Solutions: Real Estate Assist's Holistic Approach to Property ChallengesUnderstanding Financial...

Selling Your Home?

Selling Your Home?

Selling Your Home? Slow Down and Profit More with Real Estate Assist!Are Quick Sales Hurting Your Bottom Line?The Real...

quick sale land

Need to offload land fast? We've got you! Our quick sale land service is here to aid in quick transactions. We get how...