While there’s no doubt that debt makes everyone stress out (because it’s one of those things that just comes with adulthood), there’s a new study that says it’s also influencing your children’s emotional wellbeing as well. So before you decide to splurge on that pair of luxury boots you’ve been eyeing at the department store for several weeks now, listen to this.
According to Yahoo Parenting, long-term debt – like home mortgages and college loans – are better linked to a child’s positive emotional state while unsecured debt (like credit cards that come with whopping interest rates) are tied to behavioral problems in kids. It kind of makes sense, doesn’t it? Because if you are stressing about that AMEX card that you just can’t seem to pay off, there’s a good chance that your kids are feeling that stress, too.
Here’s a little more: