Believe it or not, financial stress can have an impact on your physical health. The connection between the two can have a larger effect than you might think. While we’ve all faced stress in various aspects of our lives, financial stress can often be chronic.
Connection of Physical & Financial Stress
Financial stress is an unique and difficult type of stress which can lead to unhealthy coping mechanisms such as alcohol/drug abuse and overeating. It can also manifest itself into your physical health via such symptoms as: sleep loss, headache/migraines, anxiety, compromised immune systems, digestive issues, high blood pressure, muscle tension, depression and feeling overwhelmed.
These symptoms can sometimes compound and become cyclical, unfortunately leading to the next health concern and potentially even more financial problems. Those suffering with high levels of financial stress are twice as likely to view their overall health as poor and four times as likely to report specific afflictions.
COVID-19 & Financial Stress
The COVID-19 pandemic only exacerbates these problems, with many suffering from the economic consequences left in it’s wake. Even for those that have not been impacted financially, the cloud of uncertainty can loom large. Taking action now can help ease some of the burden you feel and prevent future problems.
Assessing Your Situation
Improving your financial wellness and health starts with a review of your current situation. Are there patterns that you see regarding your spending habits? After evaluating your spending, creating a realistic monthly budget and committing to it can help ease your financial worries.
Having an emergency budget prepared can also be useful, stripping your regular budget down to what is absolutely necessary to survive each month. While you might not have to put it into effect, having an idea of your bare minimums can help ease your mind in case of any unforeseen circumstances.
Finally, don’t hesitate to seek help. Your EAP not only covers mental health solutions, but financial guidance as well. BHS is available 24 hours a day, 7 days a week by calling 800-245-1150.
Source: https://www.purdue.edu/hr/CHL/healthyboiler/news/newsletter/2020-01/finances-health.php