Finding the connection between financial and physical health
An association between physical and financial health is not entirely a novel concept. While money may not be the sole reason for people to feel happiness, being financially secure can go a long way in contributing positively to our well-being. If you find yourself living from paycheck to paycheck or are constantly fussing over funds to meet your day-to-day expenses, it will most definitely have bearing on your mental and physical health.
Through our fast and fleeting lifestyles, most of the younger generation believes in living it up during the weekends. In such a day and age being able to procure the funds to be able to participate in these planned unwinding activities creates a sense of confidence and belonging within us. This often translates into an overall sense of accomplishment in us.
Unforeseen financial expenses or stressors directly correlate with and affect mental and physical wellness. According to studies conducted in Social Science & Medicine, at Purdue University, financial distress related to debt enhances the chances of developing depression by 51%. The studies also indicate that the lack of financial discipline manifests in the form of physical symptoms, including insomnia, anxiety, migraines, compromised immune systems, and digestive issues, among others.
In this blog, we explore the ties between poor financial and physical health to arrive at the various ways in which you can begin to manage both better.
Developing unhealthy coping mechanisms
While your income remains constant over a period of time, your expenses may burgeon due to multiple factors, including emergencies, making requisite purchases on EMIs, and impulsive instant gratification expenses, among others. This creates an impasse in your life where you may find it difficult to alleviate your financial bottlenecks. A prolonged inability to cope with such a situation may lead one to take up unhealthy coping mechanisms to navigate the stress and anxiety. Overwhelmed, it is common behavior to take up escapist habits such as either overeating or skipping meals, taking up new vices to run away from the worrisome thoughts or ignoring the problem at hand completely, leading to an exacerbation of both your physical and financial troubles.
Bouncing back takes that much longer
The longer you keep the various manifestations of financial distress unaddressed whether in the form of taking control of your funds and debts or health-related bearing, the harder it will become to overcome the same. It must be understood that debt traps are subject to the accrual of interests in the same way that unattended mental or physical issues take a more sinister form as time passes. It is important to act as soon as you begin to find your personal finance going into crisis mode. Track your spending, figure out ways to curtail expenses, set strong financial goals for yourself, and always keep aside rainy-day savings to become better at managing money. Identify the reasons that are causing you mental or physical exertion, take up more healthy exercises, seek help while there is still time and honor the goals you set for yourself to take back control of your financial and physical health in no time.
Identifying and addressing unhealthy patterns
It does not take a genius or an expert to understand that we often wrack up financial distress simply as a result of the choices we make. If you are in the habit of living beyond your means, take steps to reign in this habit immediately. Remember, seeking debts for short-term fulfillment is one of the most problematic habits to which you can cling. Try and arrive at the reasons why you may be facing the crisis and take a lesson to never repeat the same financial mistakes again. While mental health therapy is gaining prominence in the modern world, you must also consider financial therapy in such cases. Taking the advice of a professional may help you recognize problematic patterns and offer expert solutions to better your situation.