The Financial Effects of Drug Abuse | Banyan Palm Springs

The Financial Effects of Drug Abuse

The Financial Effects of Drug Abuse
 

Substance abuse impacts millions of people around the world in immeasurable and horrible ways.

The financial effects of addiction have caused millions of people to lose their homes, health, and lives. Understanding the financial effects of drug abuse is necessary to provide people with the proper protection. Policies and laws are created as more information about the negative outcome of drug abuse is examined.

At our rehab center in Palm Springs, we know that drug abuse can affect your health and your finances, putting a strain on your well-being and relationship with loved ones. We advise individuals who struggle with drug abuse to immediately receive addiction treatment.

Economic Impact of Substance Abuse

Drug abuse is widely known for its detrimental effects on a person’s mind and body, but it also makes a hole in your wallet. The financial effects of drug abuse come in forms such as prevention, treatment, health care, and hospital costs, and an increase in death rates.1

Studies have shown that prevention and treatment programs can save the government $10 in future addiction-related costs for every $1 spent on treatments. Also, only one in six individuals who have substance abuse problems, around 4.5 million people, receive the proper addiction treatment. Even so, this cost comes out to $35 billion per year.Researchers also estimate that between 0.5 and 1.3 percent of all morality for young teens to adults are related to drug abuse. There are around 211,000 drug-related deaths every year, with young adults at the highest risk.1

At Banyan Treatment Centers Palm Springs, we understand the financial effects of drug addiction and how this can hurt us on a global and personal scale. You can avoid the financial and physical harm of substance abuse by starting your recovery process with a residential detox. By receiving immediate addiction treatment, you can prevent future health conditions and financial burdens.

 

How Drug Abuse Affects Your Finances

Drug abuse affects many areas of your life. As a result of addiction, your health declines, your relationships suffer, and they all come together and begin to snowball. The financial effects of drug abuse result from factors such as costly drugs, neglected responsibilities, health issues, and possible legal problems.


Expensive Drugs

Feeding a drug addiction is expensive. When a person’s drug use is at its early stages, they may only be focusing on the short-term costs of a drug. They may not consider how much it’ll add up to by the end of the week or month. Money that’s being spent to feed an addiction will not be going to other necessities, like groceries, rent, car payments, and so on. This can put you in a deep hole of debt or cause a strain in your relationship with a spouse. Regardless of the financial situation, even the richest person can lose their money on drugs.


Neglected Responsibilities

It’s common for a person who is entrapped in drug abuse to neglect their responsibilities. Addiction can cause a person to miss work, forget to pay the bills, forget to pay child support, and so on. When you’re high, you’re unable to function as you normally would, preventing you from working, seeing your friends and family, paying bills, and giving attention to other priorities. This could eventually lead to legal issues or even risky behavior like attempting to drive or operating heavy machinery at work. The best way to avoid this is by receiving addiction treatment. Our intensive outpatient program can provide you with a proper drug abuse treatment while allowing you to stay committed to your other responsibilities.


Health Issues

Drug abuse is detrimental to your health and can lead to health conditions that are sometimes irreversible. As a result, people who struggle with substance abuse will eventually need medical treatment. For those who develop more serious health conditions that aren’t curable, they may have to continuously undergo treatment for the rest of their lives. Many people don’t have insurance, and some insurance doesn’t always cover certain medical procedures or treatments. The hospital bills can begin to rack up and cause a financial strain.

Our dedicated and professional staff at Banyan Palm Springs advises anyone who has a drug abuse problem to immediately seek addiction treatment. At our rehab center, we incorporate a variety of treatments and methods to safely and effectively assist our patients in reaching their sobriety.

If you or someone you know battles drug abuse, call us now at 888-280-4763 to find out more about our addiction treatments and programs.

Sources:

  1. INCB- Economic consequences of drug abuse
 
Alyssa
Alyssa
Alyssa is Banyan’s Director of Digital Marketing & Technology. After overcoming her own struggles with addiction, she began working in the treatment field in 2012. She graduated from Palm Beach State College in 2016 with additional education in Salesforce University programs. A part of the Banyan team since 2016, Alyssa brings over 5 years of experience in the addiction treatment field.


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