People from all over the world are drowning in debt. It’s a growing problem, made worse by a sluggish economy. The mounting pressure to pay bills is leading to an increase in debt-prompted, stress-related illness. The phenomenon has even been given a name in medical circles: debt-stress syndrome.
Stress is very harmful to the body. Stress is an alarm system designed to get you to recognize a threat to your survival. When you’re constantly worrying and stressing over your debt, you put your body in a constant state of alarm. The body responds by releasing stress hormones such as cortisol and adrenaline, resulting in increases in your heart rate, blood pressure, breathing pace, muscle tension, and inflammation, and dumping fuel (glucose, fats) into the bloodstream. The cumulative effect is an increased risk of diseases ranging from diabetes to heart disease, and infections such as the common cold. Financial stress can also exacerbate pre-existing conditions, from chronic pain to cancer, by undermining the body’s ability to repair or care for itself.
Other related health woes include muscle tension, upper and lower back pain, ulcers, digestive tract problems, migraines, insomnia, tension headaches, and severe anxiety.
Right now, it may not seem like there is any way out for you, but if you follow this some of these coping skills combined with some of the other aspect we have looked at, it may lay the groundwork for you to cope with debt stress.
Map Out A Plan
If you are not on a budget, you must get on one now. I know the word budget seems like a bad word and it does require some effort and planning, but it is the best way to cope with financial stress. Living on a budget means you’re in control of your money, instead of your money controlling you.
Get Enough Sleep
Worrying over money can make one restless. Don’t lose sleep over problems–it will only add to your debt stress. Forcing yourself to think of a solution overnight will only make you exhausted in the morning. If you do this, your work will suffer and maybe even your health.
Get Physically Active
Exercise reduces stress and improves your mood and it does not cost money to walk or run a bit outside. Exercise helps to relax your muscles and use up all the accumulated stress products. Planning something each day that you enjoy and gets your body moving can be beneficial for you.
Avoid Denial
Denial is a self-defense common to the person in debt. This is a way of escaping hard reality. If we can escape the implications of a coming debt catastrophe, it gives us some release.Unfortunately, this only makes matters worse. Admit the situation to yourself. Talk to your spouse about it or confide in others you.
Don’t Beat Yourself Up
You're going to pull out your hair if you don't deal with your debt stress. At this point, it’s natural to blame yourself for all the stupid decisions you’ve made. Both those are a thing of the past. Learn from them, don’t make them again and move on.
Beating yourself up isn’t productive and only adds to your debt stress. You know you made a mistake; dwelling on that mistake only makes it worse. Instead, focus on how you are going to right that mistake. Procrastination, guilt and self-pity are not going to make the problem go away.
Don’t be your own worst enemy. I had a friend who dealt with his bad finances in a self-defeating, self-destructive fashion; he tore up his home entertainment center in a fit of rage. That’s extreme, but there are many ways to punish oneself for a perceived mistake. Understand that punishing yourself by putting yourself in a deeper financial hole is self-destruction.
The only way to fix your debt situation is to take steps to fix it. In this situation, you are your own best friend. You got into debt by making questionable choices. The way you are getting out of debt is to make good choices.
If you want to destroy something, cut up your credit cards. It will make you feel better.
Tackle The Psychological Aspects Of Debt
Your debt may be linked to your emotional or psychological needs. For many people, spending money is a way to boost their mood, to reward themselves or to make up for disappointments. For others, debt and depression become very connected, with debt fuelling depression which in turn fuels a desire to spend. For some, shopping is an addiction, which can be as difficult to stop as drinking alcohol or taking drugs.
If you know that your spending habits are affected by your emotional or psychological state, you may want to seek counseling.
Get Away From Debt
Many people get stuck in a spiral of debt without realizing that debt is a problem that you can solve. By taking the first steps towards tackling your debt, you will begin to feel less stressed and more in control. Rather than being passive, taking control can reduce your debt stress. Focus on what you can control is a good way to manage stress.
Financial stress extends beyond dollars and cents and can impact on your overall health and well-being. Financial stress can lead to depression, increased anger and irritability, and more anxiety. If this is something that you are finding difficult to manage then seek help from a local doctor or medical professional.
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