6 Ways Addiction Takes a Toll on You Financially

Alcohol and drug addiction affect millions of people every year in the US and are serious problems that are found the world over. While the general consensus of opinion is that addiction is a social problem and one that will have a negative impact on relationships with family and friends, addiction also take a major toll on your finances.

It is quite plain to see years of addiction will lead to the addict becoming totally broke. Stories of addicts borrowing money they never give back or stealing from those closest to them are far too common. This type of reckless behavior is necessary in order for the addict to support their habit.

Alcohol and Drug Addiction

Keep on reading if you want to learn more about the financial implications of addiction, and how rehab facilities are available and prepared to help you. When you are suffering from a serious addiction, only help from one of the best rehab facilities will be able to see you overcome your addiction.

Alcohol and drugs are not cheap. Over time, the amount you spend on your addictive substances will amount to thousands. What this means in turn is that your savings will dwindle and you will be left without money for essentials as all your cash will be spent on your addiction

Your habit will go from bad to worse. As your addiction starts to gain a grip over you, you will need to feed your habit more and more. This means spending more money in order to get high.

You won’t pay your bills on time. And when you fall behind on your bills, you will end up owing even more. Late fees will apply, and your finances will spiral downwards very quickly.

Taking out quick loans to feed your habit is a short fix that will bring even more problems in the future. Quick loans are notorious for having high interest rates and late fees when you are unable to pay back the loan on time.

Spending cash on legal fees is another problem that comes with addiction. When you get arrested for a DUI or for possession of illegal substances, you will have to spend thousands of pounds just to get yourself out of jail.

Losing your job is another worry for addicts, people with addiction finding it more and more difficult to hold down a job and therefore having to endure long spells of unemployment.