How Financial Stress Affects Physical Health

How financial stress affects physical health

Financial stress is a unique kind of strain that arises from uncertainty about financial stability. It’s not merely a concern over immediate expenses; it includes long-term worries about maintaining a comfortable lifestyle, covering healthcare costs, and ensuring that savings last through retirement. The connection between financial stress and health is well-documented. Financial stress can exacerbate both emotional and physical health problems. For some patients, financial concerns can lead to a vicious cycle where stress intensifies pain, and increased pain leads to more stress. This cycle is detrimental, as it can reduce the effectiveness of pain management strategies and lead to a decline in overall health.

First Study: Financial Stress and Pain

One study conducted in 2004 involved weekly telephone interviews with arthritis patients and healthy individuals. The collected data included health symptoms, financial stressors, interpersonal stress, emotional distress, and average pain. Results showed that fluctuations in financial stress were associated with greater health complaints and emotional distress. Pain was not necessarily higher, but an interaction between interpersonal stress and financial stress was observed, such that weeks with increased interpersonal stress and financial stress were associated with more health symptoms, especially during weeks of increased pain. Some key correlations were made:

1. Financial stress and health complaints: Weeks where participants reported higher financial stress were associated with a 30% rise in health complaints.
2. Financial stress and emotional distress: There was a notable increase in emotional distress among participants during weeks of heightened financial stress. This suggests that financial stress not only affects physical health but also significantly impacts mental well-being.
3. Financial Stress and Interpersonal Stress: The interaction between financial stress and interpersonal stress was particularly telling. The study found that during weeks where both financial and interpersonal stressors were high, participants reported more health symptoms. This effect was even more pronounced during weeks when participants also experienced increased pain.

Second Study: Financial Stress and Biomarkers

Another 2024 study by UCL Researchers analyzed biomarkers and found that financial stress is linked to worse biological health. Researchers analyzed blood concentrations of four biomarkers (C-reactive protein, fibrinogen, cortisol, and IGF-1) in 4,934 participants aged 50 and over. They identified three groups: low risk, moderate risk, and high risk. The study used data from the English Longitudinal Study of Ageing, analyzing blood concentrations of biomarkers and identifying clusters of biomarker activity using latent profile analysis. The analyzed biomarkers are involved in the interaction between the immune, nervous, and endocrine systems. Their disruption can lead to a wide range of mental and physical illnesses, from cardiovascular disease to depression and schizophrenia.

Their aim was to find out how earlier exposure to stressful circumstances affected participants’ likelihood of being in the high-risk group. The results were as follows:

• Exposure to stressful circumstances overall was linked to a 61% increase in the likelihood of belonging to the high-risk group.
• The likelihood of belonging to the high-risk group increased by 19% for each additional stressor experienced.
• Financial strain alone was associated with a 59% increase in the likelihood of belonging to the high-risk group.

Managing Financial Stress: 5 Expert Tips to Keep You Stress-Free and Healthy

1. Plan and Budget To decrease financial stress, focus on personal finances. Start by listing all sources of income (pensions, savings, investments) and all monthly expenses (rent, utilities, groceries). Use budgeting apps or simple spreadsheets to keep track. Then, determine short-term and long-term financial goals, such as saving for a trip or paying off debt. When the goal is set, look for areas where you can cut back on unnecessary expenses and regularly keep track of your budget and goals. Think about your emergency fund, too!
2. Invest in Assets Investing in diversified assets like the S&P 500 can provide growth opportunities and help build a more secure financial future. Learn the basics of investing and the benefits of diversification. Consider low-cost index funds or ETFs that track the S&P 500. If you’re new to investing, start with a small amount and gradually increase your investments as you become more comfortable. If you don’t think you can do it on your own, seek advice from a certified financial planner who can help you make informed investment decisions.
3. Utilize Community Resources Many communities offer resources and support services for seniors, such as financial counseling, discounts, and assistance programs. You can contact local senior centers, non-profits, and community organizations to learn about available resources and programs. Look into benefits programs like Supplemental Nutrition Assistance Program (SNAP) or Medicare. Lastly, participate in community groups or online forums for seniors to share experiences, tips, and support.
4. Emotional Support Financial stress can take a toll on mental health. Emotional support from family, friends, or professionals can help immensely. Consider speaking with a mental health professional or counselor who can provide strategies for coping with financial stress. Sometimes, just talking about your worries can provide relief. It’s important to address both physical well-being and finances to maintain good health.
5. Stay Active Regular physical activity can improve mental and physical health. Aim for at least 30 minutes of moderate exercise most days of the week. Walking, swimming, and yoga can do wonders for your health. Enroll in fitness classes – it’s also a great way to make connections! If you want to take it a step further, incorporate mindfulness practices like meditation or deep breathing exercises to reduce stress and improve mental clarity.