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Can Financial Stress Make Me Sick? Thumbnail

Can Financial Stress Make Me Sick?

Investing Insights Financial Wellness Health & Wellness

Are you feeling the pressure of financial strain? It's not just your bank account that's affected. Your health could be at risk, too. Healthcare costs are rising, and the stress of managing finances can take a toll on your well-being.

Did you know that financial stress can lead to reduced life expectancy? It's time to take a closer look at how your finances could impact your health.

The American Psychological Association conducted a study that revealed a startling truth: financial stress can lead to a range of health issues, from headaches to heart problems. The stress of managing finances can manifest in physical symptoms, affecting your overall health and quality of life.

Real Problems Cause Real Problems

Research from the Economics Policy Institute shows a direct correlation between income and health. Simply put, the richer you are, the healthier you tend to be. People with lower incomes are more likely to experience health problems due to a lack of access to adequate health care and resources for a healthy lifestyle.

Poor Coping Mechanisms Makes Things Worse

Financial stress can also lead to poor coping mechanisms, such as overeating, excessive drinking, and sedentary behavior. These behaviors can further exacerbate health issues - put on excess weight, experience poor circulation, lack essential nutrients, and exacerbate stresses by having conflicts with family members - creating a vicious cycle of poor health and financial stress.

The Psychology of Scarcity

A compelling study highlighted the profound mental toll of financial stress on individuals with lower incomes. Participants were presented with two car repair bills—one large, one small—and asked to complete various tasks. The goal was not to assess math skills but other cognitive abilities. Lower-income participants struggled notably when confronted with the large bill. This phenomenon, known as the "psychology of scarcity," demonstrates that individuals are less effective when lacking something crucial in their lives.

Working Your Way Out

So, what can you do to break this cycle? Start by taking stock of your financial situation and make a plan to improve it. Creating a budget, seeking advice from a financial advisor, and finding ways to increase your income can all help alleviate financial stress.

Additionally, focusing on your health can act as a buffer against the adverse effects of financial stress. Exercise, healthy eating, and spending time with loved ones can all improve your physical and mental well-being, even during challenging financial times.

Financial stress is a real issue that can significantly impact your health. By improving your financial situation and prioritizing your health, you can break free from the cycle of stress and live a happier, healthier life.

At Overman Capital Management, located in beautiful New Bern, NC, we understand the importance of financial health and its impact on overall well-being. Our team prioritizes physical activity to stay healthy and manage stress. We enjoy cycling, resistance training, and other outdoor activities, taking advantage of the natural beauty and resources that New Bern and Eastern NC have to offer.

Rob and I are here to help if you're struggling with financial stress. We are committed to helping you pursue your financial goals through tailored services and solutions solely for your benefit. Contact us today to learn how we can help you navigate financial stress and achieve financial peace of mind.

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