With the downturn in the economy, millions of Americans have found themselves jobless while trying to climb a mountain of credit card and loan debt. Debt-related stress has become a major issue in America, quickly gaining traction in the medical community. With tough economic times and the rising costs of living in the United States, it is no wonder that debt stress has become much more common and diagnosed in the past few years. For millions of Americans, stress has become a major pain in the neck – and the back, and the head and the stomach.
Recent studies have found that people who face large amounts of debt are much more likely to have problems with their health than people without debt. Even more worrying is that these health problems are not just little nuisances but rather severe health issues such as ulcers, panic attacks, depression and heart attacks. It is believed that between 10 and 16 million people in the United States are suffering due to debt-related stress. This is a very large concern because this stress, which is caused by debt-related issues, ends up creating even more debt in the form of doctors’ bills, prescriptions, medical tests or even surgeries and hospital stays. Lack of sleep is another health issue brought about by high levels of debt-related stress, and the effects can be devastating; weak immune systems, lack of judgment, mood swings, and problems at work are directly related to loss of sleep. If that’s not scary enough, there are very few ways to fight this issue without creating future side effects.
It is important to understand the strain that debt-related stress puts on your body and address it.
- Keep a journal and write your worries down. Take a piece of paper and draw a line down the middle. On the left side of the paper, write the things that worry you. On the right side of the paper, write possible solutions to each of your worries. Doing this exercise will give you some ideas about how to tackle your debt, pay off those credit cards and relieve your stress in the process.
- Put things into perspective by writing down the worst thing that can happen. You’ll quickly realize that the worst situation is actually not that bad when put into perspective.
- Be Proactive by keeping track of your credit report and credit score. Too many Americans are afraid to view a summary of their credit/debt and choose to ignore it. Ignoring leads to debt spiraling out of control and often leads to the need for credit repair and bankruptcy in extreme cases. You are entitled to a free credit report each year – use it.
- Find a reputable debt settlement company that can help you resolve your debt and develop a financial plan. Having a plan to follow will help to relieve stress, and once the debt settlement company helps you to resolve your debt in a way that you can accomplish, you will be well on your way to a healthy living.