How Financial Stress Affects Your Health

Would you be surprised if someone diagnosed your change of appetite, difficulty sleeping, and incessant headaches as symptoms of financial stress? It might be a hard pill to swallow, but your financial stress can have a tremendous impact on your health.  According to a survey published by the American Psychological Association in 2017, 62% of Americans reported being stressed about finances. Unbelievably, financial stress can cause companies upwards of $520,000 per year! You’re probably asking “why?”


Are you aware of the impact of stress on the human mind and body? You’re about to find out.


Financial stress, and many other kinds of stress, can have a negative impact on your health. There is a positive, temporary response to stress, and that is known as the “fight-or-flight” response. Preparing to run a race, giving a presentation, performing, and being involved in a dangerous situation are all examples of when your body is going to react with the “fight-or-flight” response, or adrenaline rush. Heart rate quickens, pupils dilate, brain functions heighten, and oxygen intake increases as your body reacts to the scenario. This is helpful in the short-term, but in the long run, on the other hand, it can become extremely harmful.

If these stressors are present over a long period of time, other health issues will manifest. Have you ever heard of heart disease? That’s a rhetorical question, since it’s the leading cause of death in the United States for both men and women. Guess what? Chronic stress is one of the main contributing factors to heart disease (along with a poor diet and lack of exercise). Not only is heart disease intensified by stress, but migraines, sexual dysfunction, asthma, gastrointestinal issues, high blood pressure, diabetes, general pain, stomach ulcers and many other health complications are also correlated with stress – money worries in particular.

We know that when you’re stressed, you’re more likely to make decisions that aren’t always the best. But when you accidentally, or purposefully, make a choice that ends up being detrimental, stress will follow. For example, the fear of not being able to pay next month’s mortgage bill can initiate symptoms of depression or PTSD. In turn, this can lead to even more issues with budgeting and over-spending (like racking up your credit card balance to make yourself “feel better”), which only exacerbates symptoms.

In the same way that stress exacerbates physical issues, it can also aggravate psychological problems such as anxiety, sleep disorders, depression, anger issues, and hopelessness. About 10% of high-earning individuals experience 2 to 3 indicators of depression, in comparison with 23% of low-earning individuals. Pair together financial stress and depression, and you’ve got a crippling combination. It definitely isn’t a recipe for productive and satisfied employees. Each day it seems that employee health is worsening, so it’s crucial that employees, managers, and health care professionals work to decrease stress levels and improve coping skills.

Although many of us brush off money worries, the physiological effects actually make sense. How can your body thrive if it’s constantly being beaten down with the incessant worry of money troubles? Simply put: it can’t. The physiological response of the body to stress is so immense that physical and mental health quickly begins to suffer. The lower classes of America undoubtedly experience the effects of financial stress, but studies show that financial worries also plague middle and upper class individuals.

In the United States, approximately 75 to 90% of all doctor’s visits are stress-related medical issues according to The Journal of the American Osteopathic Association. We know that stress causes plenty of medical issues, but some of that can be attributed to unhealthy coping skills. When people are stressed, they tend to resort to unhealthy coping behaviors such as overeating, overconsumption of alcohol, etc., which only worsens other medical problems. Stress management techniques such as exercise, deep breathing, and meditation are all effective ways to lower stress levels.

The heaviness of financial stress can weigh you down, but it’s important that you and those around you find successful ways to decrease stress levels and develop helpful coping skills. Lifting such a weighty burden requires intelligent money management and more important, stress management.

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How To: Overcome Financial Stress and Get Your Finances in Order

Before the Great Recession, financial stress was the number one worry of over 70% of Americans. Since the Great Recession, money issues have become increasingly depressing for some people. With the loss of a job or a decrease in income, many people can have a prolonged stress that sits like a ton of bricks upon their shoulders. This chronic financial stress is extremely detrimental to the body, and you will begin to affect the lives of those around you. Before you know it, you may start to rely on bad habits to relieve your stress. How can you get a foot in the door of overcoming your financial stress and straightening out your money matters? Well, it obviously doesn’t happen overnight, but if you keep reading, you may gain some insight as to how you can begin.

Setting Goals. 

Though you can’t control all of your circumstances, you can initiate steps towards improving them. One of the most important first steps is setting a goal. This might sound simple, but that’s because it is! Before you can even think about your goals, you need to take a step back and review your finances. Doing this on a monthly basis could be beneficial for you, and don’t forget to check out your budget to know where exactly your money is being delegated.

Once you’ve had a chance to look over and get really familiar with your debts and income, set some goals. We are always setting goals in life – (financial, fitness, education, etc) and this goal is just like the others. It should have a purpose and a particular plan of action that will help you to attain the goal. Rather than setting a broad goal, attempt to set specific goals. Maybe your goal is to have $5,000 in your bank account within the next 2 months. You can break that broad goal down into smaller goals, like making yourself more valuable to your employer or improving your business plan. No matter the goal, review your financial state, set a goal, and clearly define the parameters and steps needed to reach it.

Make it measureable.

As covered in the last paragraph, clearly defined goals will be of more benefit. A goal such as “having a lot of money” does not have clear parameters. Some financial professionals suggest keeping 3-6 months of expenses in your bank account. Rather than setting a goal of “I want to always have 6 months of expenses in my account, sit down and put an actual value to that 6-month amount. This will focus your mind on a specific number instead of a vague sum.

Realistic and Reachable.

When you are setting your goal, it’s crucial to ensure that it’s one that you can actually attain. If you don’t have a good chance of reaching the goal, what was the point in setting it? Since you’ve already reviewed your finances and budget, you know whether or not a goal is realistic. If the goal is realistic, in your mind, you know that it’s attainable. Maybe your goal is adding $500 to your savings account each month. If you’re currently struggling to pay rent and have a low income, that goal may be a little out of reach. Work with what you have.

Deadline.

If you have no time limit on your goal, it might take you forever to reach it, which in turn makes setting the goal a waste of time. Part of defining a goal is listing a deadline so that you are able to separate your one big goal up into smaller chunks. Focusing on reaching your goal week to week can be mentally easier than seeing a huge number in front of you and stressing about how to climb that mountain.

Financial stress can take a toll on your mental, physical, and emotional state, which is why it’s so crucial to alleviate at least a small portion of that worry. Now that you have a few pieces of advice on how to overcome your financial stress, don’t wait until you find yourself in a desperate financial state. If you aren’t sure how to go about everything on your own, don’t hesitate to get in contact with a professional debt resolution/credit repair expert. They will be able to help you in setting a proper budget as well as raising your credit score and negotiating with any creditors to whom you may owe outstanding payments.

Are Money Worries Making You Sick?

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Do you find yourself stressing out over money issues lately? Or perhaps it’s been ongoing for awhile now. Either way, if you’ve got money problems that are causing you mental strain, angst or a general feeling of dread, you may actually be causing yourself real physical damage.

When you find yourself plagued by negative thoughts (in this case, about money), it’s not only your mental state you need to be concerned about. In fact, there have been a number of studies that show a direct correlation between fretting about your financials and failing physical health.

The correlation between worrying and your physical health is so strong that it simply should not be ignored. Because of  the association between worry and some significant health problems (high blood pressure, chronic migraines, heart attacks and debilitating back and neck pain), it’s crucial that you find an appropriate way to deal with your money worries. Failure to do so could put your health at serious risk.

Are you having trouble paying your mortgage bill? Has your car payment become more than you can handle? Is your electric company threatening to turn off your power if you don’t pay up soon? Are you dealing with seemingly insurmountable credit card bills/student loans/child support?

All of these things can lead to an overwhelming sense of anxiety. Along with the aforementioned physical health problems, long-standing, untreated anxiety can cause you to fall into a deep pit of depression.

Long-standing stressors can also make you more susceptible to infections like the common cold, the flu and other viruses. The more stressed you are, the more likely you will be to catch more serious and more frequent infections. This cause and effect relationship boils down to the fact that stress hormones like cortisol can interfere with your body’s ability to fight off infections.

If it seems like you always have a cold, or if your winter viruses linger long into the spring and even pop up during the summer, take a look at your overall stress level. Studies show that people who are under financial strain have a much harder time fighting off illnesses, and tend to stay sick longer then their more relaxed counterparts.

In fact, you may be up to five times more likely to come down with the cold or flu then people around you who are not under the same financial stress. You should take your body’s signals seriously, and if you’re consistently feeling ill, take inventory of the amount of stress you’re under.

If the primary source of your worry is financial, now is the time to reassess your budget. It may be that all you need is a budget overhaul. On the other hand, you may benefit from some certified credit counseling services in order to get your finances back on track.

If you’re reading this article here on our blog, it’s likely that you could benefit from taking a look around at some of our previous articles regarding money management and stress. Please feel free to read through all of our blog posts that may be pertinent to your own unique situation. Our hope is that you get your financial worry under control, and if you need to contact us, we would be glad to step in and help you.

Image credit: BHernandez