4 signs debt problems may be putting your health at risk

December 9, 2014

The physical and emotional impact of debt is a daily reality for many people. Are you one of them? Here arefour signs your debt problems may be putting your health at risk.
Are you struggling with serious financial debt? There are many causes for indebtedness and insolvency, and they can all make life seem miserable: divorce, job loss, gambling problems, bad investments, impulse buying, or trying to keep up with the Jones’s. Indeed, debt problems have a large impact on the health and quality of life of those who find themselves seriously in the red.

The impact of stress

Debt problems have an impact on your physical and psychological health, because they plunge you into a state of chronic stress. High stress releases steady doses of the hormone cortisol in your body, which can have many negative consequences on your health. That includes headaches, dizziness, irritability, muscle tension, digestive problems, and an increased risk of developing cardiac disease. Stress can also result in insomnia, which makes concentrating more difficult. If you’re distracted, you’ll be less effective at work, and the fear of losing your job gets added to an already long list of worries.

1. You feel like a failure

In addition to stress, money problems can lead to a sense of failure or incompetence, a loss of self-confidence, low self-esteem and guilt. The situation often leads to despair, and you feel as if there are no solutions in sight to help resolve your high level of debt, stress and depression.

2. Youisolateyourself

A lack of money also compromises your quality of life, since it can impact your ability to participate in leisure activities and a social life. When you’re in debt, it’s hard to plan a budget for such activities. As well, the sense of failure and worthlessness generated by debt problems can lead to withdrawal and isolation from friends and other social supports.

3. Your behaviour has changed

In addition to a tendency to isolate yourself, stress and debt problems can lead to negative behavioural changes, including irritability, poor diet and excessive alcohol consumption. Over time, people in debt may try to numb their stress with alcohol and a limited budget could lead to a less varied and healthy diet.

4. You're alwaysfightingwith family

Debt and insolvency can also have an impact on your personal relationships. Debt problems often generate conflicts among couples or families, and possibly with employers as well.

Ask for help

Many people refuse to talk about their difficult financial situation and do everything they can to hide it because they’re ashamed and afraid to tarnish their image. However, if your debt problems have an impact on your health, it’s important to seek help. You can consult a credit counsellor to find solutions or a psychologist to help you regain your self-confidence. As a result, you can figure out how to begin tackling your debt and regaining your health.

4 signs debt problems may be putting your health at risk
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