The Health of Debtors

Stress is a common result of finances, many say, and common still are headaches, neck aches, and pains in other parts of the body. This has probably been the way of the world ever since the first cave man realized that he didn’t have enough pebbles for that new club or lacked enough equity to safely refinance the mortgage on his cave.

We have evolved past the point of clubbing a mastodon to handle stressful situations and are now faced with increasing health problems due to the mounting debt.

The recent credit crunch that has so fiercely gripped the United States and the world is a result of the sub prime mortgage collapse. The first to feel that wave of anxiety, panic, and fear were borrowers with less then perfect credit who found their ARMs (Adjustable Rate Mortgages) resetting at a much higher rate. Unprepared and unaware, the homeowners quickly defaulted and lost their homes. This, of course, caused an amazing amount of stress for those homeowners.

Medical science has yet to prove beyond a shadow of a doubt that stress leads to severe health problems. However, it is pretty hard to deny that a link does exist. While ulcers may not be caused by stress alone, other health problems such as aches and pains, lethargy, depression, and panic attacks can result.

During times of financial downturn investors, home owners, and the general public report health problems at an impressive increase. Instead of worrying about an attacking saber-toothed tiger, we have to worry about debt and some more debt and more debt on top of all that. Worrying about debt triggers a panicked response; the Flight or Fight response. Flight or Fight was the primary defensive mechanism used by our caveman ancestors facing a predator or foreclosure on a cave. The response releases adrenaline into our systems which allows us to make quicker decisions and to respond far faster then normally. When that stress is prolonged it can have a devastating effect on the body.

This effect can be as minor as a headache to something major like panic attacks and even psychological breakdowns. The fact that debt has such an effect on consumers is not all that surprising. Money really does make the world go round even though we all try to tell ourselves otherwise. While money is not “everything” it is certainly near the top of that list. For most, one setback like a major illness or a layoff can topple an entire world so worrying about money and debt is a way of preservation.

There are techniques that consumers can practice to help deal with stress; financial or other. Remember anyone experiencing severe negative health systems should seek professional medical attention.

Be Realistic

Understand that the world will not end if you are late on one payment. Call the financial institution whether it is a mortgage broker or utility company and notify them of how late you will be. Usually, they will be understanding of your situation and will be eager to work with you.

Set goals that you can achieve. While aiming for the stars is admirable, a goal that is achievable will go a long way to make you feel better. Sit down with your spouse, partner, or advisor and come up with a budget that is both realistic and has the ability to make an impact.

Take Time Out For Yourself

A bubble bath, a good book, a simple walk can go along way to helping you relax. If you find yourself balancing the checkbook every five minutes then its time to take some time and do something for yourself. Relaxing is a hard state to reach especially with financial concerns loom overhead. In order to reach that state try some of these suggestions:

• Exercise
• Yoga
• Meditation
• A bicycle ride
• A long walk
• Starting a journal

Sure, debt is a major problem facing many consumers and while combating this debt is important it can cause stress. That stress when prolonged can cause significant health problems. Sometimes it helps to realize that you are not the only one facing mounting debt, that in fact, the majority of the world’s population has debt of some kind. If you feel as if you are drowning then it may be time to seek the professional health of a doctor and a financial advisor.

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