Financial stress can take a very big toll on your emotional wellbeing and overall physical and mental health. That being said, many people don’t realize the many negative consequences of financial stress, nor how to take control of their financial situation. If something that is eating away at you is a worry about money–especially during the holiday season–here’s what you need to know about how financial stress affects your emotions and health:
Stress–Financial and Otherwise–Is Downright Bad for You
There’s no beating around the bush – no matter how you look at it, stress is downright bad for you. In fact, there are multiple studies that highlight the relationship between financial stress and health problems, such as studies:
- Highlighting the connection between students with debt and obesity and substance abuse;
- Demonstrating that smokers with financial concerns have more difficulty quitting smoking, and are more likely to relapse;
- Illustrating that psychosocial stress associated with bill paying is linked to a greater risk of gaining weight;
- Linking poor sleep and financial stress; and
- Highlighting the connection between stress–which can certainly include financial stress–and coronary heart disease.
Of course, stress of all types is also related to a greater risk of mental health problems, including anxiety and depression.
How to Take Control of Financial Stress
If you are dealing with financial stress, or are feeling financially stressed about the holidays, there are some things that you can do to get more in control of your economic health, thereby improving your overall financial picture and emotional wellbeing too.
- Be mindful when spending money. Incorporate the principles of mindfulness when you go shopping, being aware of what you’re buying, why, and how much you’re spending.
- Tackle debt. If you have any debt, repaying it should be one of your number one priorities. Put as much money as you can each month towards paying off your debt.
- Develop a budget. Budgeting is one of the best things that you can do for getting control of your finances and reducing financial stress. If you understand your economic needs and how much you have to spend to meet those needs, you can make smarter decisions.
Get Stress Under Control
Stress, whether caused by financial circumstances or something else entirely, can be bad for you, including your physical health, spirit, and emotional state of mind. If you are having a difficult time with stress management, Nadia can help. Get in touch with her today to learn techniques for stress reduction and improved wellbeing.