What stresses you out? While there are a number of different stress triggers out there, one common trigger many of us share is money and debt. All one needs to do is pay attention to the Presidential Primaries so far to understand this– Bernie Sanders, in particular, has made income inequality and the minimum wage a major part of his platform. Not being able to pay your bills or come up with a plan to erase your debt could greatly affect your mood and health; it could even be a risk factor for death.
You can die from your debt? Indirectly, yes. When you are overly stressed from anything, it has disastrous effects on the body – it could affect your blood pressure, elevate your inflammation levels, and destroy your sleep. Over time, these can greatly impact your health and increase your risk of mortality. In fact, according to one Oregon State University study, men who indicated that they experienced moderate or high levels of stressful events over the course of a number of years had a 50% mortality rate than those who said that they didn't have higher levels of stressful events.
If you are overly stressed from your debt, there are ways you can lower your debt on any budget. For starters, you should take a closer look at your finances to see where changes could be made. For example, instead of eating out for lunch at work, bring a bagged lunch. This could help you save $50 a week. Instead of going out to the bar with friends, arrange for a potluck where everyone brings a dish. Minor adjustments likes these could have a major impact on your checkbook.
In addition, you should review your credit report to see if there are any errors as these could affect your credit score, interest rate, etc. Speak with your creditors to see if you can work out a payment plan. Oftentimes, they will reduce the overall balance to recoup some of their losses. If you have really bad credit, there are credit cards for bad credit to help you reestablish a credit history, so you are eligible for interest-friendly loans for your automobile or home down the road. Remember that as you reduce your debt, it's important to strengthen your credit profile as well.
Debt can be scary, but it shouldn't be deadly. Take a deep breath and begin the process of reducing your debt today for a healthier and less stressed you
You can die from your debt? Indirectly, yes. When you are overly stressed from anything, it has disastrous effects on the body – it could affect your blood pressure, elevate your inflammation levels, and destroy your sleep. Over time, these can greatly impact your health and increase your risk of mortality. In fact, according to one Oregon State University study, men who indicated that they experienced moderate or high levels of stressful events over the course of a number of years had a 50% mortality rate than those who said that they didn't have higher levels of stressful events.
If you are overly stressed from your debt, there are ways you can lower your debt on any budget. For starters, you should take a closer look at your finances to see where changes could be made. For example, instead of eating out for lunch at work, bring a bagged lunch. This could help you save $50 a week. Instead of going out to the bar with friends, arrange for a potluck where everyone brings a dish. Minor adjustments likes these could have a major impact on your checkbook.
In addition, you should review your credit report to see if there are any errors as these could affect your credit score, interest rate, etc. Speak with your creditors to see if you can work out a payment plan. Oftentimes, they will reduce the overall balance to recoup some of their losses. If you have really bad credit, there are credit cards for bad credit to help you reestablish a credit history, so you are eligible for interest-friendly loans for your automobile or home down the road. Remember that as you reduce your debt, it's important to strengthen your credit profile as well.
Debt can be scary, but it shouldn't be deadly. Take a deep breath and begin the process of reducing your debt today for a healthier and less stressed you