2024-10-12 16:00:00
Although, according to the Bank of Spain,Household debt was reduced in the second quarter reaching 45.4% of GDP – a minimum improvement of 3.7 points compared to a year ago (49.1%) – still remain many families are facing an unstable economic situation and uncertain, which have a negative impact on their psychological and physical well-being, as can be seen from the “Report on European consumer payments” produced by Intrum.
In this sense, and according to the study, three in 10 Spaniards recognize that financial worries and payment obligations have affected their mental health. Despite this, Spain stands below the European average (38%) and is the country with the second lowest incidence, only above the Netherlands (29%). It still is away from other regions such as the UK (43%), Germany (33%) or Italy (32%), and even more so from other territories such as Ireland or Norway, where the percentage of citizens reporting that financial worries have affected their mental health rises to 58% and 48% respectively.
In addition to worsening their mental health, respondents admit that their financial situation is also worsening it has negatively affected your personal relationships and social life, so much so that, due to the lack of economic resources, They cannot participate in as many social activities as they would like, therefore they feel isolated and distant from their closest ties. 33% of the Spanish population admits to having suffered situations of this typea figure which, once again, is slightly lower than the European average response (36%).
Here’s how it affects physical health
The increase in prices of essential goods and services also affects the physical health of citizens.The increase in VATon products such as bread, milk, eggs or fruit, which came into force on 1 October, is causing many to pay less attention to their eating habits: 36% of Spaniards admit that they have “compromised their physical well-being” by not having enough money to take care of themselveseither by opting for cheaper, less healthy foods, or by reducing physical activity.
However, the Spaniards They continue to be among the group of countries that see their physical well-being least compromised by finances.together with Germany (30%), the Netherlands (31%) and Belgium (33%).
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