Financial stress is at an all-time high in America and a major source of stress is debt. Debt stress impacts tens of millions each day. Everything from high rent and mortgage to health care makes an impact on debt stress. It’s also shown to have an impact on one’s physical well-being as well. Here’s a look at some of the ways that debt stress can impact your health — and what to do about it.

The Impact Of Debt Stress On Your Health

Mental Health

Debt stress caused by unemployment and higher cost of living can often result in more complicated and serious mental health issues. Debt has been shown to lead to depression, and problems in personal relationships, and can rattle one’s overall emotional state. All of those can lead to the development of a form of mental illness. It is important to manage stress for your mental stability.

Physical Stress

Along with depression, debt stress leads to different forms of anxiety, lack of focus, and the development of sleep issues. These physical manifestations can also result in more serious illnesses, colds, and infections. This can make going to work difficult, adding to more financial struggles. Debt stress has also been shown to cause health issues like migraines and heart disease.

Emotional Changes

Credit card debt stress often affects one’s happiness and emotional well-being as well. Changes in behavior, such as drinking and drug use, often result from chronic stress. Sometimes, you can even feel angry all the time. There’s an actual term for anger and stress related to issues with finances called Debt-Anger Syndrome.

Such anger is often directed at loved ones and coworkers, at bill collectors and bosses. There’s a hopelessness that develops and your self-esteem takes a hit. These emotional changes can also feed into physical changes that can have lasting impacts, such as high blood pressure and increased risk of stroke.

What To Do About Debt Stress

As you can see, stress due to debt can really negatively impact your life in multiple ways. It is important to find ways to lower your stress and improve your life. If you find your debt stress building, there are numerous active ways to minimize your debt stress. Here are the most important steps to take.

Revisit Your Budget

If you have a budget — and you should — an increase in debt stress typically means you need to make some changes. Review your expenses again because there may be some increases or additions that you have to account for. You should also take a hard look at your spending habits. Pinpoint small and large ways to cut back in order to change your financial track.

Create A Debt Repayment Plan

It’s vital to have some sort of savings plan, but debt stress can throw your financial goals for a major loop. When you’re saddled with debt, it’s time to make a specific plan to begin digging yourself out of your financial hole. First, write out all of your debt sources and decide which approach will work best for you.

Some savings plans – like the snowball method – begin with tackling the lowest debt amount and going up from there. Others – like the avalanche method – prefer paying off the largest debt amount first, since that usually comes with the highest interest rates. The main goal is just to get started to help yourself financially now and into the future.

Find Some Additional Income Streams

Making more money helps lower debt stress, of course, and it may be easier than you thought to improve your monthly cash flow. A number of side jobs, such as freelancing, delivering food, babysitting, and teaching courses online, offer reliable cash that you earn on your own time and can even transform into a full-time career if you want.

Pursue A Title Loan Online For Emergencies

You should never have to tackle your debt stress alone. If you need a little help getting back on track when facing a financial emergency, a title loan online may offer the assistance you need. A short-term loan designed specifically to help those experiencing financial emergencies, a title loan online uses your car’s title as collateral for a lump sum of money.

At Fast Auto Loans, Inc., it can take as little as 30 minutes to find out if you qualify for a title loan online of up to $15,000. Get started today by heading over to our homepage and filling out the short online form. A car title loan representative from the nearest Arizona title loan location will give you a call to discuss the very few required items and provide an overview of the next steps to take.

Get Your Debt Stress Today

When it comes to debt stress, you should get control of it as soon as possible. This guide proves just how it can really impact your life. So take these tips and lower your stress right now! And if you need help with an emergency, a title loan online can go a long way to help. Fill out the online form found right on our website to get started on our simple process today.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.