3 Ways Addiction Can Affect Your Finances

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Being addicted to anything, be it a substance or a way of life, can be harmful to many areas of your life. Rather than having your priorities in a healthy order, your addiction now becomes your top priority, wreaking havoc on every other area of your life. Getting help is out there, there are many Canadian treatment centers to treat drug addictions for example, but they are also all over the world, and they treat all kinds of addictions in different ways too. Wherever you’re living you will be able to have access to help. But while certain addictions can be bad for your physically or mentally, all addictions have a major and devastating impact on a person’s finances and their monetary stability. To show you how, here are three ways addiction can affect your finances.

Limit Your Ability To Work

Addictions make it difficult to focus on things that desperately need your attention but don’t appear on the surface to be as important as getting your next fix. Because of this, you can have one major financial area of your life take a major hit: your ability to work and earn money. AmphetamineRisks.com shares that not only can addiction cause you to lose your job in some instances, but it can also prohibit you from the chances to earn more money through raises or promotions. If you come to work feeling sick because of an addiction to a substance like alcohol or drugs, you won’t be able to do your job to the best of your ability, resulting in your being passed by for opportunities to make more money.

Exponential Costs To Feed An Addiction

An addiction doesn’t necessarily have to be a dependence on a substance. It can also be an impulse to do something that you shouldn’t really be doing. This could include things like shopping, gambling, eating, and much more. And according to Jessica Bosari, a contributor to Forbes.com, addictions of all sorts often have an exponential cost due to the need to always have more of your fix to meet your needs. This means that the longer you suffer through an addiction, the more that addiction will cost not only in the long run, but also on a daily basis. Because of this, you could end up spending a huge percentage of your income just to feed your addiction.

Medical Expenses

Regardless of whether your addiction is physically harming your body, most addicts end up with higher medical costs either for physical, mental, or emotional issues. However, the physical tolls are often easier to pinpoint. For example, Carmel Lobello, a contributor to TheWeeks.com, shares that people with an alcohol addiction are more likely to have physical problems like pneumonia, cardiovascular diseases, cancer, liver problems, and much more. These medical issues all have a big price tag that comes along with them, further crippling addicts financially.

Even if you don’t feel like you have a large, unhealthy addiction, any amount of money you’re spending on a daily basis for the same thing can have devastating affects on your finances. Consider the information presented above if you care about your financial security.

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