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Redefining the Debt Experience

18 0
10.07.2024

Have you ever been at the cash register, given the clerk your credit card, only to hear, “I’m sorry. The transaction has been declined.” Embarrassment, confusion, anger, or shame may race through your mind.

In those moments, a declined credit card charge may feel more like a reflection of our character or self-worth rather than a mistake with the bank. You aren't alone if you’ve noticed those emotional responses when something like this happens. Our finances are inherently emotional pieces of our lives, and the difficult emotions felt around things like debt can be exacerbated by financial trauma.

Financial trauma refers to the psychologically damaging effect of........

© Psychology Today


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