Taking care of your health means more than just eating your vegetables and exercising regularly. We now know that factors like stress and environment can have a huge impact on our wellbeing. And for many Canadians, money worries are their greatest source of stress—more than work, personal health, and relationships, according to the Financial Consumer Agency of Canada. When you’re stressed out financially, it can affect almost every aspect of your life.
Below are a few ways your health may become severely impacted by your financial stress.
Financial stress affects working Canadians of all income levels and age groups, and one of the areas most affected is their mental health. According to recent Financial Consumer Agency of Canada data, 44 percent of Canadians say it would be difficult to meet their financial obligations if their pay is late. Over time, this constant stress can lead to ongoing health problems such as anxiety and depression, which may require therapy or medication if lifestyle changes are not made. Financial success is also intrinsically linked to status and self-worth in our society, which means stress in this area can be difficult for a person’s self-confidence and how he views himself and his worth.
Even the healthiest of relationships can become strained due to financial stress. In personal relationships, dealing with finances can be incredibly isolating when an individual deals with guilt or embarrassment surrounding his or her situation. It might be a difficult topic to discuss, but open communication is the key to avoiding relationship strain.
Additionally, almost half of working Canadians admit that stress related to personal finances has had an impact on their performance at work. This can greatly affect both work relationships and overall job success.
Closely linked to your mental health, your physical health can also be impacted by financial stress. When we're stressed, our bodies may respond in physical ways—losing weight, losing sleep, or losing hair, for example. High stress is also known to contribute to risk factors that can lead to heart disease and high blood pressure. Additionally, if your financial stress is related to debt, you might be overworked trying to get your financial situation under control, which can lead to mental and physical exhaustion.
If you're feeling financially stressed, or simply trying to avoid any of the health concerns listed above, we’re here to help—you can connect with a trusted debt advisor or consultant on Vexxit today to stay healthy and stay informed.