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Health Effects of Debt: How Debt And Financial Stress Affects Your Health
Sick of Debt
Everyone in debt knows that debt can make you feel sick. You plan around it;
you think about it; you worry about it. Many of us can trace our level of stress
right back to our level of debt. A study at Ohio State University found that
people who reported higher levels of stress in regard to their debt showed higher
levels of physical impairment and reported worse health than their counterparts
with lower levels of debt. The study also found that the level of credit card debt
compared to income also played a role, with those with higher percentages of
debt to income reporting a higher level of physical impairment.
Debt stress impacts physical and mental health as well as our relationships.
The divorce rate is often said to be over 50 percent and the number one reason
for divorce is reportedly financial trouble. Couples argue more about money than
any other related issue.
Stress, anxiety, and depression are common for those with uncomfortable
amounts of debt. Feelings of guilt, shame, and failure all impact self-esteem and
lead people to feel as if they are out of control or powerless. Add to this the fears
of what will happen if the bills are not paid, the aggressiveness of many creditors
and debt collectors and the constant pressure to continue spending, and it is no
wonder if some Americans actually end up taking their own lives as a means
to end the downward spiraling feelings.
The Psychology of Debt: What Are The Psychology of Debt Read More about this to get more information.
Debt stress has also been linked to substance abuse and the accompanying
health problems (including an increased risk of violence) associated with this
illegal activity. On the legal side, many people react to stress by abusing alcohol
or legal prescriptions.
Spending has become such a problem for some people that the
pharmaceutical industry has taken notice. Shopping has long been recognized as
an addiction for those whose spending interferes significantly with their lives. In
fact, it is estimated that 8 percent of American adults (90 percent of these being
women) suffer from this addiction. Research has shown that this compulsive spending is linked to low serotonin levels in the brain. The drug Celexa increases
serotonin and is now being used to treat compulsive shopping. In fact, a recent
study showed that 80 percent of the shopping addicts treated with Celexa were able
to curb their impulses to spend.
How To Beat The Lenders At Their own Game Read More about this to get more information.
Another serious health concern related to financial problems is the fact that
people will often forego treatment for physical (or mental) illness in an attempt to
control debt. This too often leads to more serious ailments and even death. In
addition, those in financial turmoil are more likely to go against doctor’s orders
and return to work in order to pay the bills – medical bills included – thus
increasing their chances of reinjury.
We all know about the connection between stress and illness. Get stressed
and you get sick. Anyone who has ever gotten sick right after a big test or after
the deadline for a huge project knows how stress wears us down. It’s said that
when the sex is good it only accounts for about 10 percent of the health of the
marriage. When it’s bad it accounts for about 90 percent. The same can be said
for money and the stress it creates at work and at home. When the money is
good, it accounts for only about 10 percent of a person’s problems. But when it’s
bad it accounts for 90 percent.
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Over the past decade, researchers have demonstrated the link between
financial stress and health, as well as productivity in the workplace. For
example, Financial Fitness reports that:
Distress over financial matters is contributing to irritability, anger, fatigue,
and sleeplessness for over 52% of Americans. Among those who reported high
stress levels due to debt, the following illnesses were reported:
- More than 3 times the ulcers or digestive tract problems (27% in the high
stress group and 8% in the low-stress group),
- 44% report trouble with migraines compared to 15% in the low stress
- 500% increase in severe anxiety and depression,
- Double the rate of heart attacks, and
- Increased sleep disturbances and lack of concentration.
They also cite a study published in Diabetes Care that found that “financial
stress was shown to increase the risk of metabolic syndrome which can lead to
serious medical conditions like diabetes, heart disease, high cholesterol, and
It doesn’t take a researcher to tell most of us that when we’re dealing with financial problems, we feel horrible.
Unfortunately, many people don’t know where to turn when they have credit
problems. This post is designed to help you understand your options so you can
take control of your financial life.
Let’s look at how a smart and resolute couple managed to do it…
For our purposes, they’re the signals that would get you to swipe your credit card or sign on the dotted line. They’re also powerful signals that keep people addicted—whether that be to substances or habits like shopping. The insula triggers negative arousal signals.
- Your debt will go to a collection agency.
- Debt collectors will contact you.
- Your credit history and score will be affected.
- Your debt will probably haunt you for years.
- You’ll pay off the debt or not, but life will go on.
So the conclusion of this post is that what is the bad effect of debt on your body and how does it affects your mind, find some easy way to get out of the debt and get out of debt and don’t keep debt on your mind. Do not let it dominate your mental health.
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