Why debt-related stress affects more than just your finances

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Debt stress can be an issue for both your bank account and your well-being. Among other things, it can cause pain, depression, and weight changes.

Are you dealing with debt stress? If so, the first thing you should know is that this isn’t a problem you can avoid. Your best bet is to accept your situation, understand the emotional effects of debt, and learn how you can manage it.

Is Debt Stress Common?

First things first: debt stress is very common. According to the Federal Reserve Bank of New York, household debt in the U.S. is at an all-time high.

In these circumstances, it’s no surprise that many people are coping with financial anxiety. Many of them lose sleep over it or feel they’ll never get out of debt. The whole thing is widespread enough to qualify as a public health problem.

What is Debt Stress Syndrome?

The impact of debt on a lifestyle has a name: debt stress syndrome. It describes ongoing stress that can impact your physical health. For instance, it can cause:

Headaches and stomach aches
Memory problems
Lack of balance
Increased blood pressure
Weight changes

How Does Debt Impact Your Mental Health?

Beyond your physical health, debt stress syndrome can also impact your mental state. Some mental effects of financial stress include these emotions:

Denial: Some people keep spending despite their finances getting worse.
Anxiety: The body’s true reaction to financial stress.
Anger: Lashing out at employers, creditors, spouses, etc.
Depression: Low self-esteem can fuel “emotional spending“.

These symptoms often lead to a vicious cycle that makes your financial situation worse. If that happens, it doesn’t make you irresponsible. It’s simply a common reaction to excessive stress and your body’s unhealthy responses.

How to Reduce Debt Stress

When it comes to managing debt stress, even small actions can make a difference. Try these things one at a time, and don’t feel bad if you stumble.

1. Know the Numbers

By listing out your debts, you gain control over the situation. It’s a lot like turning on the light in a dark room. Even if what you might see in the light seems scary, it’s still better than not knowing where you’re going.

2. Practice Self-Compassion

As far as mental health and finances go, one thing to keep in mind is that debt isn’t a character flaw. Once you realize that, be kind to yourself. You’re doing what you can to get through it, which is more than many people can say.

3. Create a Repayment Plan

Having a plan, no matter how simple, brings hope. If you’re not sure where to start, seek help from an expert. For example, if you’re dealing with garnished wages in Baltimore, your best bet may be to contact a lawyer.

Don’t Let Debt Control Your Life!

The bottom line: debt stress is real and more common than you may think. The best thing you can do is accept it as a fact and start looking for ways to break the cycle. Hopefully, just reading this article has provided some relief!