Can poorly managed finances lead to poor health?
Your health problems could be directly related to problems with your personal finances. But it doesn’t have to stay that way.
You can take control of your money, your health and your life by making some simple changes.
Let’s take a closer look at how financial stress can be harmful to your body, and what you can do to enjoy better financial and physical health.
And the survey says…
There have been a number of studies on how money problems and health problems are connected.
An Associated Press poll conducted in 2008 found that people are much more likely to report health problems if they are dealing with a frustrating amount of debt.
A study published in Consumer Interest Annual in 2005 indicated more than 40% of Americans felt their heath was being affected by their financial problems. Those questioned blamed physical and mental health complications like depression, insomnia, migraines, hypertension and many other ailments on issues with money. Remember – this study took place years before the U.S. economy took a turn for the worse in late 2008.
Financial instability can affect others in your family as well. A 2009 study published in the Chicago Tribune on the recession’s effect on children found that school psychologists and guidance counselors were reporting an increase in the number of kids who felt stressed out because of their families’ financial woes.
Health problems mean medical bills, and that means more bills to pay and more money problems. It starts to become a vicious cycle.
What Can You Do?
It’s no secret that stress – no matter what the cause – is unhealthy. But how do you get rid of that stress?
Here are three ways you can help relieve the tension:
- Start Making Smart Decisions: It’s time to take a close look at how you’re spending your money. You need to start living within your means and come up with a solid plan to pay down debt. That may mean you need to seek help from a financial planner.You can also start using personal checks and a check register to keep better track of your finances. You need to take the time to sit down and create a budget for your household. It may be stressful to think about, but once you find a way to stick to a plan you’ll see your stress level decrease.
- Get Rid of Bad Habits: Sometimes poor health and poor financial management go hand in hand. Think about how much money you could save if you quit smoking. If you smoke a pack a day, that’s more than $2,000 a year you could be saving! You can also save money and improve your health by packing a nutritious lunch instead of buying fast food every day. Other bad habits include overuse of credit cards. If you are swiping those plastic cards every time you buy something, you’re probably racking up debt without even thinking about it. If you assume it won’t matter if you add just a little more debt to that credit card, you’re making a big mistake. Why not use paper instead of plastic? Order personal checks online and discover a more responsible way to pay.
- Remember What Really Makes You Happy: Paying down debt and changing your spending habits isn’t going to be fun, but you can do it – especially if you remember the things in life that really make you happy. Turn to family and friends for support. Spend time with the people you love, and do the things you love to do. Money can’t buy happiness, but better financial management will make it easier to live a happy life.
Having trouble remembering the things in life that make you happy? Believe it or not – you can find them on the many designs of personal checks available at Check Advantage. Browse our collection and you’ll see what we mean!
Image: br3akthru / FreeDigitalPhotos.net
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