By Sylvie Tremblay
Money problems can be detrimental to your physical, mental, and financial health. See how being in control of your finances can help you feel better.
Many of us are under financial pressure. A study by Sun Life Financial found that nearly half of Canadians surveyed said their household financial situation placed them under stress. The mental burden it places can compromise your job performance, relationships, and physical health.
“You have to experience some degree of stress,” argues Donna Ferguson, a psychologist at the Center for Addiction and Mental Health in Toronto, explaining that stress is essential for our fight or flight instincts. “But, beyond a certain level, she specifies, it can be harmful.” Also, some of the stress-related health complications can be life-threatening.
Therefore, managing your money intelligently is not only a question of financial security; it is also necessary for healthy living.
Four benefits of smart financial decisions for your health
Here are four steps to promote your financial, physical, and mental well-being.
- Stop losing sleep over money worries
The stress of looming debt isn’t exactly conducive to sweet dreams, and financial worries can keep you up all night. “You’re constantly mulling over your financial situation looking for solutions,” says Ferguson. It harms your health because you are not only emotionally drained but also physically.” By reducing your stress, you will relax more easily. This should help you get better quality sleep and avoid the weight gain and decreased immunity that comes with lack of sleep.
What to do if you’re sleep-deprived
- Keep your heart healthy
The physical effects of financial stress can also harm your heart. Why? Because of cortisol. The body releases cortisol in response to stress, raising heart rate and blood pressure. It is therefore hardly surprising that the number of heart attacks increases markedly during periods of economic uncertainty. By saving wisely, you will be able to weather financial setbacks and protect yourself against related stress.
