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June 15, 2019 – Financial burdens and lack of social support may explain why depression is on the rise among millennials. They’ve seen a 47% increase in major depression since 2013, according to a Blue Cross Blue Shield report. However, one in five don’t seek treatment — likely because they can’t afford it.
Studies have found a correlation between indebted people and mental health problems. While this research, by its nature, can’t identify causality, the likelihood of having a mental health disorder is three times high among those unsecured debt, according to a meta-analysis, or study of studies, in the Clinical Psychology Review. People who have completed suicide are eight times more likely.
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