What effect does debt truly have on your health?
Canadians are at record-levels of household debt according to statistics Canada. With some many Canadians coping with the stress of heavy debt they are not just having trouble sleeping but now researchers are finding that there a number of other health effects that are occurring.
Researchers have documented the health effects of indebtedness. A review by Finnish researchers last year of 33-peer reviewed studies concluded “indebtedness has serious effects on health.”
It can raise your blood pressure which is a risk factor for heart disease and stroke.
It could lead to anxiety
You probably didn’t need a study to tell you this, but researchers found that those in greater debt reported perceived stress levels 11.7% higher than average.
It’s been linked to depression
It’s not just young people who’s health is affected by their debt. Older adults experiencing financial troubles can feel the affect on their mental health. In a 2014 Rutgers University study, adults age 51 and older were more likely to report depressive symptoms when they owed a high amount of unsecured debt (like credit card balances) and felt out of control with their financial circumstances.
It can be a pain in the neck — quite literally!
Victoria residents do you have chronic aches and pains? Your credit card statements may have something to do with it. A 2008 survey found that 44% of people with high levels of “debt stress” had frequent migraines or other headaches, compared with just 15% of those with lower levels. They were also more likely to have muscle tension, back pain, ulcers or digestive tract problems, and suffer heart attacks.
It could ruin your relationships
Debt doesn’t have to drive a couple or families apart, but if it’s something you and your partner argue about often, it’s not a good sign. In a 2012 study published in Family Relations, newlywed couples who disagreed about financial issues at least once a week were more likely to divorce within five years than were those who argued about other issues, such as chores, in-laws, time spent together, etc.
Since joining 4 Pillars in Victoria 2011, Chris has been providing debt relief to residents all over Victoria. Chris can create a debt strategy that works for your unique financial situation. It may be as simple as debt consolidation, debt restructuring, budgeting, or some other form of debt settlement or debt relief.
Call Chris at (250) 880 1618 and start mapping out a future you can live with. With Chris Grew in Victoria by your side you’ll be living debt and stress free!
