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Being in Debt is Like Being in a Toxic Relationship: Survey

Debt has been compared to a lot of things, but this might be the first time it’s been equated to being an individual’s significant other.

A new survey out from Canada compares how individuals feel about their debt burdens is roughly the same as how they feel about their partners, and individuals with a lot of debt are in the equivalent of a “toxic relationship.” Nearly half of those surveyed believe that the amount of debt they are carrying is having a negative effect on their lives, from the choices they make to their outlook on live.

More than 25% of respondents said that debt keeps them from going out, 19% said it keeps them awake at night, and 8% said they are avoiding relationships because of their debt.

When asked how their debt makes them feel, 17% said it made them feel depressed, 12% said embarrassed or ashamed, 10% said guilty, 9% said a failure, 9% said hopeless, and 4% said it made them feel worthless.

Keeping up with the relationship theme, the survey reveals that 20% of Canadians have ended an actual relationship because of financial issues.

The survey and report were managed by Credit Canada, a debt counseling agency. The agency has started a campaign to encourage Canadians to “break up with their debt.”

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