How Money Stress Hurts Your Well-Being, and What You Can Do About It

 

Stressing about money can have negative effects not only on your physical and mental health, but also on your relationships and overall wellness. Therefore continue reading to learn more on how money stress hurts your well-being, and what you can do about it.

Are you feeling loss of financial control? Are you finding it difficult to cope up with your regular bills and expenses?

Is payday the only day when you feel some relief?

If your answers to these questions are affirmative, then probably money stress has started hurting your overall personality.

Financial problems come and go, but they may have a long-lasting effect on your health and life.

Take a look at how stressing about money can hurt your well-being. We will also discuss what you can do about it starting right now.

 

Effects on Physical Health

Money stress affects your physical health in several ways. Stress for a short period of time is hard on your body and mind, but when you are continually stressed, it can lead to more serious, longer-lasting results.

Stress elevates your cortisol and adrenaline levels, which are responsible for causing a great deal of physiological damage.

Due to which, you become more susceptible to develop diabetes, heart disease, sleep disorders, and other physical issues.

Take a look at these other physical conditions that be worsened or caused due to money stress.

Gastrointestinal problems, heart attack, weight gain, weight loss, eating disorders, insomnia, cancer, psoriasis, and hypertension.

When you are stressed for money, you run a higher chance  of getting engulfed in the never-ending cycle of substance abuse.

 

Effects on Mental Health

Two most common effects on mental health include depression and anxiety.

Burden of a huge debt or loss of income can take a serious toll on your mental stability, and some people may even have suicidal thoughts.

Money stress can keep you from sleeping at night. It affects your optimism, and reduce your self-esteem.

Stressed and depressed people also feel discouraged, hopeless, and worried, and have poor concentration power.

 

Effects on Relationships

Many relationships stay happy as long as there exist financial stability and security.

Loss of job, high debt burden, and low bank account can lead to loss of relationships as well.

When you are stressed and overwhelmed with money issues, you become  irritated and gets angry easily with your family. There is no peace in your home.

You are not able to talk to your parents, and you don’t want to share your financial condition with your friends. As a result, all the relationships in your life gets compromised.

 

Effects on Profession

Money stress is a debilitating situation when you are not able to focus on your work and keep up with your responsibilities.

When you cannot see any ray of hope ahead, your mental condition may devastatingly ruin your career.

Poor focus and lack of concentration also affect your professional life to a great extent.

 

 

What You Can Do About It

In the vicious circle of doom and gloom, one good thing is that there are still some ways to deal with money stress. Listed below are a few great suggestions to implement right away:

 

List down your all your debts and financial obligations:

Being honest with your debts and obligations is the foremost step to tackle your financial situation.

Actually, recognizing them can be a little scary and frustrating.

Never-the-less, pull the curtains back, sit down and list all your debts, lenders, amount owed, interest rates, and other financial obligations you have to meet on a regular or one-time basis.

 

Stop the bleeding from unnecessary expenses:

Based on your income, you need to keep your expenses under control.

Write down your expenses every day for a month and see where you are misusing your money.

Check your bank account statements of the last few months and identify where your money is being spent unnecessarily.

 

Have a look at your savings:

When there is a debt looming over your head and you can barely cover your bills, it’s difficult to possibly save some bucks.

But still, you can keep it simple, start small, and save at least $50-100 every month.

Automatic saving systems makes it even simpler. Setting your savings objectives on auto-mode can actually keep you on track.

 

Related Post: 5 Unhealthy Habits That Hurt Your Health

 

 

 

 

Make a budget:

The word ‘budget’ is a kind of turn-off for many, for whom it sounds like dieting and starvation.

But it is actually a great way to keep an eye on your income and expenditure habits.

Based on your budget, you can strategize an expenditure plan that would no longer be a tough affair.

However, the most difficult part is to figure out how much you are spending on different areas, such as eating out, household items, groceries, vacations, car installments, cosmetics, personal items, etc.

Once you have an idea about your expenses, your budget can help you make long-lasting tweaks.

 

Set realistic financial goals:

The financial goals that you set for yourself should be at par with your income.

Do not plan to buy a bungalow and work hard to save money for it if you do not have money to even pay your current rent on time.

By setting such unrealistic goals, you can ruin your life by getting highly indebted just unnecessarily.

Don’t compare yourself with wealthy people you meet and don’t get into the competition of being like them.

Find ways first to increase your income, set goals to eliminate current debt, then set your other goals accordingly.

 

Talk about it:

Most of the money related stress comes when you keep your feelings of guilt, shame and embarrassment bottling up.

Hash them out to a trusted friend and ease off the burden from your shoulders.

This will help you feel better, and probably you may get a possible solution to the problem that was keeping you down until now.

Talking out your stress is a great remedy for your physical and mental well-being, and sharing your feelings with others improves your relationship with them also.

 

Conclusion (How Money Stress Hurt Your Well-Bring)

There is no doubt about it. Money stress hurts your well-being.

But, instead of stressing about money and harming your health, follow the suggestions given here and improve your financial condition.

Once you learn to eliminate stress, you will become more encouraged to continue taking steps towards a better financial condition.

So, instead of sulking, face your woes head on, take action today….and soon you will be stress-free!

 

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Cheers!