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Credit card charges: Debt can cause couples to need therapy

People having to cope with credit card charges may be well aware that debt problems can have a negative impact on their emotional relationships.

Kim Stephenson, financial psychologist and creator of Taming the Pound, a website which aims to help people manage their money better and change their attitude and behaviour towards money, claims that money is a major cause of distress.

He said: "Debt or money worries are the biggest reason for couples to consult [couples therapy]. Debt or money worries usually rank third or higher in any ranking of reasons for people seeking treatment for depression or anxiety.

"Depression is a major illness and money worries [are] a major cause of general distress, which may contribute to depression."

His comments follow research obtained exclusively by the BBC, which was released on April 7th.

The data showed that economic problems may be causing a rise in depression levels in England.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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