A study was recently made indicating Canadians' poor credit is affecting the country's mental health. Canadian Mental Health Association Central executive director Sean Miller explains how that's so.

"Money does answer a lot of problems," says Miller. "So, to not have it means there are certain things that are happening in your world that you may not have a solution for. And while money isn't the be-all and end-all, it is an incredible tool that enables us to do certain things in our lives."

Miller recommends preplanning as key to overcoming personal debt. He says an up front plan to commit yourself to not spend using a credit card but cash instead, or a debit card in place of a credit card goes a long way. He adds the age-old wisdom of living within your means and even below your means can greatly increase a positive state of mental health.