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What triggers debt depression?
Learn how to avoid the debt depression spiral on this Queer Money®. Then kick off your financial independence journey now by getting your free copy of the 7-Step Credit Card Debt Slasher.
Social Media and your mental and financial health
Have you ever used spending to make yourself feel better, only to feel worse when you get the bill in the mail? And then you spend to feel better AGAIN, only to feel worse when you get the NEXT bill in the mail? If so, you’ve been caught in what we call the Debt Depression Spiral.
On this episode of Queer Money®, we share five ways to avoid the Debt Depression Spiral, explaining how a no-spend weekend can help you reset your finances. We challenge you to focus your thoughts on what you’re grateful for and focus your spending on things that bring you long-term happiness.
Listen in to understand the benefit of having a regular cookoff or potluck dinner and learn how taking a break from social media can improve your mental and financial health!
Listen to learn five ways to avoid the debt depression spiral:
Topics covered on debt depression
- What the Capital One Financial Wellbeing Survey taught us about impulse buying
- How stress leads to spending and why the LGBTQ community is under added stress right now
- What triggers the Debt Depression Spiral and why it’s challenging to get out of it
- Our top 5 ways to avoid the Debt Depression Spiral
- How a no-spend weekend can help you reset your finances and analyze past purchases
- Focusing your spending on long-term happiness vs. momentary dopamine highs
- The benefit of having a regular cookoff or potluck dinner with friends and family
- Why we recommend creating a daily gratitude jar
- How social media can have an adverse effect on your mental and financial health
Resources on debt depression
Connect with David and John
- Debt Free Guys on Facebook
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- Debt Free Guys on YouTube
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe to Queer Money on Apple Podcasts
- Email [email protected]
Get more on debt depression
- Debt Stress: What Are the Effects on Mental Health?
- How Mark Turnipseed Beat Suicide and Addiction
- How to Live Below Your Means [and Love It]
We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.