We all know that money problems aren’t only about money. Financial problems have far-reaching impacts in many aspects of our lives. For example, we know that financial problems prevent people from doing a good job at work. We also know that financial problems are one of the top reasons couples fight. But can it really be proven that debt impacts your health?

To find out, I contacted a few folks who have recently repaid their debt and asked them if there were health benefits to debt repayment. The responses flooded in! Here are a just few:

“We are healthier as now we can afford better quality foods (more fruits, leaner meats, we can even eat salmon which is our favorite fish! etc)”

“I am less stressed (only good stress - not financial stress!!!). I am much healthier.”

“It is amazing how the added stress of bad financial decisions can affect ones health, but thanks to (debt repayment) I do exercise more and eat healthier.”

“I got benefits, take care of myself, feel better about my body and my mind.”

“I am happy to say I finally have health insurance through my work which I couldn’t afford before with all the debt I had.”

“I feel pretty good, a little over weight (20 lbs), but all in all I’m in pretty good shape. I do many things now that I wouldn’t have dreamed of before I repaid the debt.”

“In the sense that I feel less worried about money and the future, I’d say I’m healthier!”

“I have managed to save money up for health equipment and other exercise habits like a gym membership.”

“I am healthier, I exercise, and I feel I have more free time.”

“My life has changed my life for the better. It had got to the point where I was so stressed from work and debt I started smoking. I stopped smoking two years a go. I am less stressed and healthier.”

“I sleep better!”

“You may not think so, but carrying a bunch of debt also affects your health and mental well being. Paying off my debt has allowed me to walk and talk with more confidence.”

“I feel I am unbelievably more emotionally healthy than I’ve ever been before. I no longer lose sleep at night or have panic attacks from the fear I carried before.”

While debt repayment won’t guarentee that you will never get sick, it clearly has the potential to benefit both your physical and emotional health.

Are financial problems impacting your health? Or, has debt repayment improved your emotional and physical well being? If so, please share your story through the comments section.

According to the Personal Finance Employee Education Foundation (PFEEF), one out of three school, hospital, and technology employees reported they were so sad or down they could not perform the tasks expected of them at work—and that their depressive symptoms were directly related to high levels of financial distress.
 
The PFEEF also found that financially unhealthy employees are also likely to be less physically healthy.  Financially stressed employees were found to be more likely to smoke, eat unhealthy diets, be overweight, and are less likely to exercise regularly.

The downside to the employee is obvious; however, there are also significant consequences for the employers.  For example, financially stressed employees are often less productive and miss work more often.   In fact, PFEEF’s Director of Research estimates that financially stressed employees waste 12 to 20 hours of work time per month dealing with personal financial matters.

In other words, an individual’s bottom line directly impacts their employer’s bottom line. 

If you are an employer, it is worth your time and effort to improve your employees’ financial wellness.  Thankfully, there are organizations that offer free workplace counseling and education.  If you’d like more information about implementing an employee fiscal fitness program, contact MMI’s education division.

Money problems have put people precariously close to the edge. How do I know? Because I’m a messenger who was killed. I recently received a piece of hate mail that accused me of a lot of things including eating babies (you can’t make this stuff up!)

It is not every day that I get such creative mail, so I reached out to him. Our email exchanges ended with inspirational quotes and a few LOLs. He shared his personal financial struggles and even said “If I ever have money to manage, I’ll call you.”

Obviously, this person wasn’t really angry with me or anyone in particular. He was just angry. I get it.

While I was happy to have the opportunity to talk with this person, I know that there are an expediential number of financially stressed people who I will never interact with—but perhaps you will. Maybe it is the guy honking in the car behind you, the seemingly rude person at the checkout counter, or the usually friendly neighbor who is no longer waving back.

As people continue to carry the burden of this economy, they can’t help but to get tired. And as any parent knows, tired equals cranky. The bottom line is that financial problems don’t only impact finances. Let’s try to give each other a little leeway and perhaps a few more reasons to LOL.