Finances and Stress
Financial stress can indeed cause or increase the risk of stress. Research has shown that financial stress may increase the risk of a heart attack by 13-fold and work stress by almost six times. A recent survey by the American Psychological Association found that 72 percent of adults in the United States have experienced financial stress at least once in the past month, with 22 percent reporting extreme financial stress. Financial stress can have a significant impact on both mental and physical health.
There are several ways in which finances can cause or increase the risk of stress:
- Limited resources: Financial stress may result from having limited material resources, which can lead to living in an environment with higher cardiovascular risk factors such as noise pollution, air pollution, lack of green spaces, and high crime rates.
- Lack of control: Financial stress can reflect a general lack of control over everyday decisions in life. This lack of control is associated with a raised cardiovascular risk profile, meaning that individuals experiencing financial stress may be more susceptible to developing cardiovascular diseases.
- Health seeking behavior: Financial stress may inhibit health-seeking behavior, meaning that individuals experiencing financial stress may be less likely to seek medical help or take care of their health properly.
The symptoms of stress can vary from person to person, but some common symptoms include:
- Feeling overwhelmed or unable to cope.
- Persistent worry or anxiety.
- Difficulty concentrating or making decisions.
- Changes in appetite or weight.
- Sleep problems.
- Irritability or anger.
- Physical symptoms such as headaches, muscle tension, or stomach problems.
To reduce the risk of stress related to finances, there are several strategies that can be helpful:
- Budgeting: Creating a budget can help individuals gain a sense of control over their finances. This involves tracking income and expenses and setting priorities for spending.
- Seeking support: Talking to friends, family, or a financial counselor can provide emotional support and practical guidance when facing financial difficulties.
- Prioritizing self-care: Engaging in activities that promote relaxation and well-being, such as exercise, meditation, or hobbies, can help reduce stress levels.
- Seeking professional help: If financial stress becomes overwhelming and starts affecting daily life, it's important to seek professional help from a mental health provider who can offer guidance and support.
It's important to note that these strategies may not eliminate all financial stress, and it's always a good idea to consult with a healthcare professional for personalized advice and guidance based on individual circumstances.