Coping With Financial Stress
By Madhusudhan Tammisetti
Many people have suffered from financial stress at some point in their life. The financial problems may have arisen due to loss of work, unexpected expenses, rising debt, and a combination of various factors. In modern life, financial worry is the most common stressor troubling people. According to the American Psychological Association (APA), about 72 percent of Americans suffered from financial stress during their lifetime.
Financial stress may affect your health mentally and physically, and it may harm your relationships and overall quality of life.
Impact of Financial Stress on Health
Financial worries may lead to insomnia and a dip in energy levels and self-esteem. Though there are many important things than money in your life, when you're struggling with financial problems, fear and stress may take over your world. Loss of self-esteem, feeling despair, and flawed may slowly crawl into your life. You may suffer mentally, physically, and socially if financial stress becomes overwhelming.
Nothing keeps you awake in the middle of the night and makes you suffer from various sleep disorders than the loss of income or unpaid bills. Poor quality sleep increases heart rate and increases the risk of stress-related health problems. Stress may disrupt your appetite that may lead to eating disorders such as overeating or skipping meals.
Financial worries may lead to hopelessness, feeling down, lack of concentration, and may affect decision-making. According to the University of Nottingham, the chances of people struggling with debt suffering from depression may increase two-fold more than people with no financial problems.
Talk to Someone
Family and friends are the closest to any stress busters. You don't have to pay them to listen to your problems and maybe confident of keeping your secrets safe. They may help you with practical answers that may relieve anxiety and stress. Sometimes they don't have answers to your problems, but at least you've someone to lean on for support.
Not taking the support of family and friends or suffering alone may increase stress levels. The increased stress levels may lead to bottling up emotions that may result in erratic behavior, fuel unnecessary arguments on trivial things with your loved ones, and increase health problems such as headaches, diabetes, high blood pressure, gastrointestinal problems, and heart disease.
You may also take professional help to fight financial stress-related issues. Depending on the financial situation, you can attend free or paid counseling. Many organizations offer free counseling for people suffering from stress and depression. You can also be part of organizations self-help groups and can take and give advice to each other.
Whether it's a family member or a friend, it's important to keep in touch with someone to socialize. Socializing may or may not help with financial issues but may help with financial stress.
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