Stress Management Situational Stress Coping With Financial Stress in Your Life By Elizabeth Scott, MS twitter Elizabeth Scott, MS, is a wellness coach specializing in stress management and quality of life, and the author of "8 Keys to Stress Management." Learn about our editorial process Elizabeth Scott, MS Reviewed by Reviewed by Amy Morin, LCSW on March 26, 2020 facebook twitter linkedin instagram Amy Morin, LCSW, is the Editor-in-Chief of Verywell Mind. She's also a psychotherapist, the author of the bestselling book "13 Things Mentally Strong People Don't Do," and the host of The Verywell Mind Podcast. Learn about our Review Board Amy Morin, LCSW Updated on December 15, 2020 Print Blend Images - KidStock / Brand X Pictures / Getty Images If you're worried about money, you're not alone. Money is a common source of stress for American adults. In fact, according to the American Psychological Association (APA), 72% of adults report feeling stressed about money, whether it's worrying about paying rent or feeling bogged down by debt. This is pretty significant given financial stress is linked to so many health issues. Impact on Your Health Although any stress can take a toll on your health, stress related to financial issues can be especially toxic. Financial stress can lead to: Delayed healthcare: With less money in the budget, people who are already under financial stress tend to cut corners in areas they shouldn't, like healthcare. According to Gallup's annual Health and Healthcare poll, 29% of American adults held off seeking medical care in 2018 because of cost. Though this tactic may seem like a good way to keep costs down, delaying medical care can actually lead to worse health outcomes and higher costs, both of which can lead to more stress. Poor mental health: In many instances, the link between mental and financial health is cyclical—poor financial health can lead to poor mental health, which leads to increasingly poor financial health, and so on. For years, studies have shown that people in debt have higher rates of mental health issues like depression and anxiety than those who are debt-free. Poor physical health: Ongoing stress about money has been linked to migraines, heart disease, diabetes, sleep problems, and more. Left untreated, these conditions can lead to life-threatening illnesses, which can plunge you even further into debt. Unhealthy coping behaviors: Financial stress can cause you to engage in a variety of unhealthy behaviors, from overeating to alcohol and drug misuse. According to an APA survey published in 2014, 33% of Americans reported eating unhealthy foods or eating too much to deal with stress. How Is Stress Affecting My Health? Tips for Coping Learning to cope with financial stress and effectively manage your financial situation can help you feel more in control of your life, reduce your stress, and build a more secure future. Try some of the following tips to get started: Create extra sources of income. If you're feeling stressed about finances, you likely already feel you need more money in your budget. But knowing how to increase your financial holdings without creating significant stress for yourself can be tricky, too. Thankfully, there are several ways to boost your income and relieve your stress. Declutter your budget. Since life is rarely constant, regular budget checkups are essential to improving your financial health. Take control of your finances by setting aside some time to schedule, organize, and declutter all of the money coming in and out of your bank account. The more control you have, the less stress you will feel. Don't forget general stress management. As you work on improving your financial situation, you can reduce stress by practicing stress-reducing techniques and making other changes to create a low-stress lifestyle. Understand the debt cycle. Understanding debt is the first step to getting yourself out of it. Once you know how to break out, you can start building toward your future in a more positive way with simple habits that are easy to maintain. Stress Relievers To Try A Word From Verywell If you feel that the stress of your financial situation is too much for you to handle, it's important to share your concerns and not just keep them to yourself. Talk about your money concerns with trusted friends and family. You don’t have to go into details if you aren’t comfortable with them, but the more you talk about your concerns with your support system, the less isolated and stressed you will feel. Your loved ones may even be able to offer a new perspective on what you could do differently to get your financial issue under control. Was this page helpful? Thanks for your feedback! Struggling with stress? Our guide offers expert advice on how to better manage stress levels. Get it FREE when you sign up for our newsletter. Sign Up You're in! Thank you, {{form.email}}, for signing up. There was an error. Please try again. What are your concerns? Other Inaccurate Hard to Understand Submit Article Sources Verywell Mind uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. Tran AGTT, Mintert JS, Llamas JD, Lam CK. At what costs? Student loan debt, debt stress, and racially/ethnically diverse college students’ perceived health. Cultur Divers Ethnic Minor Psychol. 2018;24(4):459-469. doi:10.1037/cdp0000207 Kraft AD, Quimbo SA, Solon O, Shimkhada R, Florentino J, Peabody JW. The health and cost impact of care delay and the experimental impact of insurance on reducing delays. J Pediatr. 2009;155(2):281-285.e1. doi:10.1016/j.jpeds.2009.02.035 Warth J, Puth M-T, Tillmann J, et al. Over-indebtedness and its association with sleep and sleep medication use. BMC Public Health. 2019;19(1):957. doi:10.1186/s12889-019-7231-1 Additional Reading American Psychological Association. Stress in America: Paying with our health. Published February 2015. Kraft AD, Quimbo SA, Solon O, Shimkhada R, Florentino J, Peabody JW. The health and cost impact of care delay and the experimental impact of insurance on reducing delays. J Pediatr. 2009;155(2):281-285.e1. doi:10.1016/j.jpeds.2009.02.035 Richardson T, Elliott P, Roberts R. The relationship between personal unsecured debt and mental and physical health: a systematic review and meta-analysis. Clin Psychol Rev. 2013;33(8):1148-1162. doi:10.1016/j.cpr.2013.08.009 Saad L. Delaying care a healthcare strategy for three in 10 Americans. Published December 2018. Warth J, Puth M-T, Tillmann J, et al. Over-indebtedness and its association with sleep and sleep medication use. BMC Public Health. 2019;19(1):957. doi:10.1186/s12889-019-7231-1