How Finances Impact Your Physical Health (And What You Can Do About It)

The Money-Health Connection

Your finances affect everything in your life, from where you live to the clothes you choose. Going through tough times financially can even affect your health. The impact of financial stress can cause significant changes in your physical well-being.

Knowing financial stress affects your health can feel scary. The good news is the more you understand the connection between the two, the better prepared you are. Understanding the connection helps you take small positive steps toward both financial and physical wellness. Let’s look at the physical impact financial stress can have on you and the ways you can break the cycle.

The Physical Toll of Financial Stress

While occasional stress is a normal part of life, constant stress begins to have a negative impact on your health and well-being. Often, money can be a cause of constant stress. If you are stressed about money, you aren’t alone. Money is a major source of stress for 72% of Americans. Many people are struggling with low wages and the rising cost of living. For example, 68% of SaverLife members had a problem paying a debt in the previous 12 months, according to our recent study.

This constant financial stress takes a physical toll. It can cause stress-related health issues. The American Psychological Association looked at how financial stress impacts an individual’s physical health. Here’s what they found about people who are feeling ongoing stress about money:

• 53% had trouble sleeping 
• 47% reported increased headaches
• 35% reported upset stomach 
• 34% said they experienced more muscle tension

This shows that financial stress has real physical implications. If left unaddressed, these physical symptoms can lead to fatigue, high blood pressure, and other health problems. 

Limited Resources and Health Choices

When your resources are limited, addressing the challenges caused by financial stress can be difficult. When you are living paycheck to paycheck, finding room in your budget for healthy food, a gym membership, or routine medical care is challenging. If you are struggling to fit these things into your budget, you aren’t failing. When there are limited resources, options are also more limited.

It’s important to find ways to take care of your health even if you find yourself with limited funds. Often, when money is tight, we don’t make the healthiest choices. This can include skipping check-ups or delaying medical care because of the cost. But doing so can be more expensive over time. If you are facing health challenges, they can worsen over time, leading to larger bills. Delaying health care can also cause you to miss days of work while you recover or heal, which means lost income and more financial stress. 

Breaking the Cycle: Small Steps for Big Impact

Understanding the impact that financial stress can have on your well-being is important. You can feel better if you start with small steps to help both your financial stress and your physical health. 

The steps you take don’t have to break the bank. You could take yourself for a walk. Walking has been shown to reduce stress and lower stress hormones like cortisol in the body. 

You can also try deep breathing exercises and meditation. Some apps, like Insight Timer, offer free meditation and breathing exercises. You can also find guided meditation podcasts or sleep stories to help improve your overall mood and health.

Eating healthy can seem out of reach when you’re on a budget. But there are ways to make it more affordable. You can shop sales for produce and other healthy products. Remember, frozen and canned vegetables and fruit are healthy, and generally less expensive options. They can also be kept longer without the risk of spoilage. You can also reach out to your local food bank or pantry for help when funds are low. 

If you need medical care or a checkup, look for free or sliding-scale clinics or health services in your area. Some clinics may provide basic services or tests free of charge. Others will consider your income and ability to pay and give you a rate that is more affordable.

Information on food pantries, clinics, health services, and other free and low-cost services in your area can be found at https://www.findhelp.org/.  

Building Financial and Physical Wellness Together

If you find yourself in a situation where your money stress is high, small steps can help you see some improvements. Small changes lead to big progress over time. Something as simple as cutting a small expense to free up money in your budget can reduce your financial stress and in turn positively affect your health. The key is to find small sustainable changes you can make over time.

Financial stress can feel isolating. But you don’t have to face it alone. Look for resources in your community and elsewhere that can help with both your financial stress and your health and well-being. 

If you are struggling to pay medical bills, talk to your provider about Charity Care. Charity Care is a service offered by non-profit hospitals that can help those who are struggling to pay for the costs of medical services. Eligibility requirements are hospital-specific and can be hard to navigate. DollarFor can help you navigate the system and reduce your medical debt. 

If you find yourself dealing with money stress and the health problems it causes, you’re not alone. Look for resources and help in your area.

📋Action Item: To start reducing your financial stress, make a list of the things causing your stress, choose one, and find a small step you can take today to tackle it.