Does Credit Card Debt Contribute to Poor Health?
Credit cards are infamous for creating stress among people who struggle to get out of debt as a product of the borrow and repay method. It can be effortless to sign up for credit cards when you need money now, but the stress of repaying it back can have negative effects on your health down the road. How does credit card debt contribute to poor health aside from the stress its puts on individuals?
Income Growth vs. Living Expenses
USA Today reported on why credit card can be bad for your health and points our attention to the increases in living costs. Though individuals have higher earning potentials and have seen an increase in their income, the rising living costs have made it hard for people to maintain a debt-free lifestyle. It can seem as though you are always trying to catch up financially. Most people turn to credit cards for temporary relief, but high interest rates make this borrowing option one of the costliest.
What are the health risks?
Stress is one of the most common health hindrances associated with debt. Health.com lists a few health risks that can become burdensome when dealing with debt: high blood pressure, depression, anxiety, and compromised immunity. The constant worry about becoming debt free can create lasting physical and mental health risks. It can be a financial burden to add medical costs into the equation when you are trying to pay off credit card debt and alleviate any health issues.
Addressing Health Issues
It is crucial to address health issues as soon as possible. Quickly finding a solution can be less costly – a simple trip to the doctor may prevent problems from worsening. Easing the burden of medical debt while you are in credit card debt is possible, but it can create additional stress that impacts you further. USA Today offered statistics from NerdWallet that revealed, “Nearly 2 in 5 consumers who have had credit card debt said it affected their general happiness.” Before credit card debt has the chance to impact your health and happiness, you should seek professional help to address any issues at the first sight of their development.
Happiness and Health Before All
In a stressful, demanding world, it can be easy to make bills and stress a priority. New Era cannot emphasize the importance of self-care enough. We want you to know there are options available to help you get out of debt, but there are also ways to keep you happy, healthy, and less stressed. Set aside time in your schedule to do something that makes you happy, whether it is 10 minutes dedicated to relaxing yoga in the morning or an hour after work devoted to your favorite hobby – pick what suits your lifestyle! You might be surprised by how just a little bit of time dedicated to focusing on yourself and your interests can benefit you long-term.
Are you in search of the road to financial freedom? New Era Debt Solutions can guide you there with compassionate counselors and debt reduction options designed to fit your needs. Contact us today to start living debt free.