If you are suffering from financial stress and anxiety, pursuing debt relief may help improve your health and relieve some short and long-term negative effects of debt. Debt weighs heavily on your mental well-being and can also impact your physical health. Persistent money stress can mimic post-traumatic stress disorder in some people.
The Negative Effects of Debt and Financial Stress
Money-related anxieties can also trigger physical health problems and lead to behaviors that might exacerbate existing conditions.
- Delayed Healthcare
- Poor Eating Habits
- Substance Use
- Digestive problems
- Heart Disease
- Sleep problems
- Weight gain or loss
- Memory Problems
- Concentration issues
- Low Self Esteem
5 Ways Debt Relief Can Improve Your Health
- Get Medical Care When You Need It
- Have Money to Spend on Stress Reducing Activities
- Confront Thoughts and Feelings You’ve Been Avoiding
- Time to Assess Your Core Money Beliefs and Habits
- Reduce Chronic Stress and Unhealthy Coping Behaviors
1. Get Medical Care When You Need It
Half of adults in the U.S. say they put off or skipped some sort of health care or dental care in the past year because of the cost. Delaying needed health care is not good for you! When you put off treatment because of the cost it can lead to serious consequences.
Skipping preventative measures or delaying treatments or procedures can lead to a worsening of your symptoms, a need for more costly interventions, and may do permanent harm to your health and wellbeing.
2. Have Money to Spend on Stress Reducing Activities
When debt rules your life it can be difficult to have the time and resources necessary to balance work stress with relaxation and stress-reducing activities. When you tackle debt through a relief program it not only lowers your financial stress but can free up time and money for things that will mitigate the effect of chronic stress.
Taking time for vacations, participating in hobbies or regular self-care can help prevent stress and anxiety from escalating and impacting your physical or mental health.
3. Confront Thoughts and Feelings You’ve Been Avoiding
Even before your debt is fully resolved, your mental well-being can benefit from starting a program. By confronting your financial situation and implementing a plan, you’ll be able to unburden your mind of the uncertainty that often accompanies unresolved debts.
Also, if you’ve been ignoring or suppressing your feelings about your financial situation, starting to confront those is a first step toward healthily processing them.
4. Take Time to Assess Your Core Money Beliefs and Habits
During debt resolution you’ll have an opportunity to analyze your core beliefs about money and any habits that contributed to your debt.
What core money beliefs and habits contributed to your current debt? Make a list of things you believe about money and decide if the belief or habit is limiting or empowering.
Examples of limiting beliefs:
- I am bad with money
- I will never have enough money
- I will never be able to pay off my debt
Examples of bad money habits:
- Impulse shopping without a budget
- Ignoring bills until the last minute
- Shopping for status
5. Reduce Chronic Stress and Unhealthy Coping Behaviors
When you reduce financial stress, you also reduce the need for the unhealthy coping strategies that can accompany them.
Habits like drinking, smoking and overeating can all increase when you are worried about money.
The Physical and Mental Health Benefits of Debt Relief
Resolving your debt through a relief program can be a long term investment in your health. Debt relief can help counter many of the negative effects of financial worry and stress.
Debt stress can cause:
- Poor sleep
- Chronic anxiety & worrying
- Racing thoughts & poor focus
- Poor planning & judgment
- Impulse control issues
Debt relief can help you:
- Sleep better
- Reduce anxiety & worry less
- Focus on the things that matter
- Plan ahead & Make good decisions
- Avoid past money mistakes
If you need help finding a relief program that is right for you, speak to a Certified Debt Specialist.