The Impact of Debt on Your Health

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Consumer debt is something most people try to avoid. No one enjoys paying interest or having debt hanging over their head. Some are pushed to seek out solutions like debt settlement, debt consolidation, or bankruptcy to help eliminate any existing debt they have. Most realize that consumer debt can be a source of anxiety and stress. The psychological impact of debt tends to escalate once someone has fallen behind on their bills. What many tend to overlook is the other health implications from the debt they are dealing with.

The Associated Press conducted a survey last year (AOL-AP Debt Stress Survey) to determine what, if any, health problems could be linked to the stress and anxiety caused by debt. 

Among the people reporting high debt stress in the poll:

• 27 percent had ulcers or digestive tract problems, compared with 8 percent of those with low levels of debt stress.
• 44 percent had migraines or other headaches, compared with 15 percent.
• 29 percent suffered severe anxiety, compared with 4 percent.
• 23 percent had severe depression, compared with 4 percent.
• 6 percent reported heart attacks, double the rate for those with low debt stress.
• More than half, 51 percent, had muscle tension, including pain in the lower back. That compared with 31 percent of those with low levels of debt stress.

(The AP-AOL Health poll involved telephone interviews with 1,002 adults from all states except Alaska and Hawaii and was conducted from March 24 to April 3 of 2008 by Abt SRBI Inc. The margin of sampling error was plus or minus 3.1 percentage points.)

People who reported high stress also were much more likely to have trouble concentrating and sleeping and were more prone to getting upset for no good reason.

Although this study was conducted roughly one year ago, the economy has not improved since that time and more people find themselves battling consumer debt. It’s reasonable to believe that impact debt has on one’s health has not changed in the last year and that more people are facing these health issues.

So, what do you do?

1. Determine the source of the stress and create a plan. If you’re confident that the debt you have is the driving force behind your stress and anxiety then you need a plan to remove that stress. Explore options like debt settlement, debt consolidation, and bankruptcy. Look at cutting your spending or increasing your income by finding another job. Often times just addressing the core problem can go a long way in alleviating the stress associated with it.
2. Eat healthy. Avoid foods that contain a lot of salt, sugar, or fat - all of which can impact your mood.
3. Exercise. A fitness program can help undue some of the damage already done. Exercise can also cause the release of chemicals called endorphins into your blood stream. These give you a feeling of happiness and positively affect your overall sense of well-being.
4. Drink Water. Water is necessary for our bodies to operate efficiently.
5. Avoid Stimulants. Skip the caffeine, alcohol, and tobacco. These stimulants can exacerbate stress responses.
6. Create regular sleeping habits.
7. Put things in perspective. Be thankful for the positive things you have going on in your life and recognize that while things may seem “stressful”, it’s really only credit card debt. There are plenty of other people going through the same thing as you. You won’t find yourself in jail for not paying your bills.
8. Seek professional help. If the stress and anxiety caused by your debt is having an impact on your ability to function every day or meet the demands of your job, you should consider getting professional help from a licensed therapist or doctor.

While it’s certainly important to research debt settlement or consolidation and learn the pros and cons of bankruptcy if faced with a lot of consumer debt, it’s more important that you protect your health in the process.
About Author:

Chris Rocks is the Regional Director of the National Credit Federation (NCF), a consumer advocacy group that assists small business owners and consumers overcome debt and credit challenges.

Post written by Chris Rocks

2 Responses to “The Impact of Debt on Your Health”

1. GerryCuon Says:
   May 19th, 2009 at 4:40 pm

   I found your article to be very informative. I was just looking for an answer that would alleviate some of my stress woes. This article did the trick I am seeking financial assistance to consolidate all of my debt I hope that in time this will all come to pass. Thank you for the ray of hope

2. Ollie Says:
   June 10th, 2009 at 6:12 pm

   Well written post Over time I recovered from depression but it took medication, counseling and also a lot of personal development Are there any good forums you would recommend

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