Negative Health Effects of Financial Stress
Are you stressed, worried, nervous, tense, depressed or suffering from insomnia?
Well you are not alone in having these feelings. Have a look at the research below.
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In 2005 a study was done in America to identify the health effects of financial stress. The study explored the specific health effects associated with financial distress. Respondents were asked to indicate if they felt that their health had been affected by their financial problems and, if they answered yes, to explain how. The frequencies for each categorised response are reported in the Table below. The total adds up to more than 100% because up to three health effects per respondent were recorded from their open-ended responses.
|
Health Effect of Financial Problems |
Frequency (Percentage) |
|
|
Stress/stressed out |
613 (46.3%) |
|
|
Worry, nerves, tension, anxiety, pressure |
157 (11.9%) |
|
|
Depression/depressed |
132 (10.0%) |
|
|
Insomnia and sleep disorders/problems |
122 (9.2%) |
|
|
Headaches/migraines |
96 (7.3%) |
|
|
High blood pressure/hypertension |
95 (7.2%) |
|
|
Stomach/abdominal/digestive problems |
38 (2.9%) |
|
|
Other aches and pains (e.g., back, chest) |
16 (1.2%) |
|
|
Ulcers or possible ulcers |
13 (1.0%) |
|
|
Appetite disorders and weight gain or loss |
46 (3.5%) |
|
|
Fatigue and feeling tired/weak |
14 (1.1%) |
|
|
Drug, alcohol, or cigarette use |
4 (.3%) |
|
|
General or other sicknesses |
85 (6.4%) |
|
|
Unable to afford or access health care services and exams |
8 (.6%) |
|
|
Can't afford or don't follow recommended health maintenance practices |
22 (1.7%) |
|
|
Other responses |
111 (8.4%) |
|
The study concluded that:
"The results indicate that there are a variety of perceived impacts of financial distress upon mental and physical health. Intuitively, it makes sense that poor health and financial problems are associated. Financial problems, such as overextended credit, are one of many life events that can cause people to experience the physical manifestations of stress (e.g., insomnia, migraines, anxiety) that are associated with many health problems and/or to cut back on recommended screening, prevention, and health maintenance activities. Indeed, stress was identified as a health effect of financial problems by almost half of the survey respondents who reported their personal finances affected their health (613/1,434 = 46.3%). Conversely, poor health can result in increased medical expenses, reduced productivity and earnings, and other negative financial effects that increase debt and drain household wealth."
Source: Negative Health Effects of Financial Stress, Consumer Interests Annual Volume 51, 2005
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