Have you fallen into debt?
In the red? It could affect more than your finances: Being in debt is a major drag on your health, says a new report from the U.K.
Researchers reviewed multiple studies of over 30,000 people and found that the more severe unsecured debt you have (like falling behind on credit card payments and utility bills), the greater your risk for mental problems like depression. The meta-analysis also uncovered a boost in physical health problems like back pain, obesity, and chronic fatigue.
So how do your money troubles make you miserable? The connection might go two ways: Debt may provoke depression symptoms by causing worry or stress, or people who are depressed may be more likely to fall into debt because they’re at a greater risk for unemployment, the researchers say.
Fortunately, escaping a financial crisis isn’t impossible. Your first step: stop blaming others. Instead of arguing that greedy bankers sucked you in with a low adjustable rate mortgage or an inflated credit line that didn’t jibe with your income, accept responsibility—and let it go. Then, follow this debt-eliminating plan to hop back in the black—and win back your health—for good.
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