Today’s uncertain economic climate, stagnating housing market and rising costs of living drives many people into debt. However, a large balance can cause more than just a blemish on your credit report! Worrying about the health of your bank account can really make you sick. 

This point of view is supported by medical surveys that proved the affect of debt stress on a wide range of health problems. Fortunately, a smart financial management will help you get back on your feet and ensure your financial piece of mind. 

The problem of bad financial choices and overspending is very common. Due to unemployment, foreclosures and high gas and food prices, many consumers use loans and credit cards as the main sources of income. They take advantage of the opportunity to purchase goods now and pay for them later. 

Although most Americans tend to manage their finances wisely, some people don’t have necessary financial skills. Their poor decisions lead to heavy debt loads. According to the surveys of consumer finances, nowadays more than three out of every four American families live with debt.

The present-day credit crunch makes it more difficult to stay on top of your finances when terms and conditions keep changing, interest rates keep rising, and various fees are getting tacked on to your balance each month. 

A mountain of bills you need to pay can really make your life miserable, especially if you don't have enough funds to fulfill your financial obligations taken out in economically kinder times, not to mention the continual round of bills for utilities, gas and food. No wonder that people with large debts feel anxious and worried. 

As a result, the stress from deepening debt can become a pain in the neck ¬¬– and the head and the back and the other parts of your body. The true cost of debt is not just the interest rate and fees that you need to pay to your lender. The true cost is its overall affect on your life, health and relationships.

These are no idle worries. According to the AP-AOL survey, people who are dealing with a large debt are much more likely to have health problems than people without any debts. And the level of debt-related stress is increasing: in 2008 it was 14% higher than in 2004. 

Taking into consideration all Americans who live with debt, we can say that there are approximately 10 millions of people who are suffering from diseases related to debt stress. With the deepening recession, this is a critical time to examine these serious health concerns and debt stress management.

The survey showed that people with large debts suffer from a wide range of stress-related illnesses including digestive tract problems, ulcers, migraines or other headaches, anxiety, severe depression, back pain and even heart attacks. 

Debtors also reported that they have problems with sleeping and concentrating. In addition, they are more likely to stop enjoying things they have liked before like good dinner or walking with a dog. And they can get upset without any good reason. 

Medicals believe that most of the symptoms reported in this survey are typical of financial stress. Many Americans worry about money-related problems. Financial stress is common if you have lost your job or accumulated a large debt. It causes feelings of insecurity, anxiety, fear, anger, and depression.

Stress is an alarm system designed to help you solve problems by telling you about some threat. The body reacts with a "fight-or-flight'' response: it releases stress hormones adrenaline and cortisol and increases blood pressure, heart rate, muscle tension, etc. That helps you react fast in an emergency. However, if the body stays in such tension for a long time, those chemicals become harmful for your health. 

The chronic debt stress can increase risk for a wide range of diseases from abdominal pains and headaches to problems with reaction time, memory, thinking and immune system. It can also worse your pre-existing diseases (like stomach ulcers) by lowering the body's ability to care for itself. 

Judging from numerous news broadcasts and financial analytics, the recession will become deeper and deeper day by day. The alarming headlines make people get more anxious about their future. It means that we can expect worse consequences of debt stress, for example situational-related insomnia. The similar thing happened after 9/11 where a lot of people were having nightmares about terrorist attacks. 

Have you recognized any of the above traits in yourself? If you feel anxiety, depression or have a knot in your stomach, then debt stress is starting to take a toll. You should give more attention to your health. 

How to cope with financial difficulties and avoid debt stress?
•    First of all, you need to understand that there are no hopeless situations. With just a little guidance, a well-considered financial plan and emotional support from your family and friends you can overcome any difficulties and raise your self-esteem. 
•    Learn all information about your debts – exact figures, terms and interest rates. If you don’t have the entire picture of your financial situation, your mind will constantly remind you of this threat. This is what makes the debts stress chronic. So avoid hiding from problems - the less you know, the more you mind will try to help you recognize the problem. 
•    Seek social support from your family, friends, loved one, pastor or a debt counselor ... from anybody! Talk to people you care about to take away the sense of shame and stigma. You are not the only person going through this, especially now. 
•    Reduce the amount of your debt. The number one benefit of having less or no debt is your financial piece of mind. Take simple and basic moves like tracking your day-to-day expenses. It will show you where you money goes from your bank account. You will be able to determine your spending priorities and set up your family budget. 
•    Make a plan with a help of credit counseling services, your friends, relatives or spouse that will help you change your financial life. Even if it takes a lot of time and efforts, you will see the light at the end of the tunnel. The financial plan will help you get rid of the feeling that your debt level is out of control.
•    What are you afraid of? Ask yourself what the worst thing could happen to you. Look at the amounts of your debt, write them down and talk to someone who can explain what will happen over time with your bills. 
•    Take a piece of paper and divide it into two parts. On the left side, write down all the things that you worry about. On the right side, write down the solutions. It can be something simple like “talk to Peter about it.” Do it for about 10 minutes. After that fold the paper in half and close it in your mind. 
•    Keep in mind that there is a huge difference between actions and thoughts. Many people create a plan, feel better and stop doing something. That’s not right. Sooner or later you will need to fight with your debt monster. So don’t fool yourself - you need to make a significant lifestyle change to solve your financial and health problems. 

Smart financial behavior is an important part of maintaining a happy and healthy life. Don’t be afraid to approach your debt monster and look into its eyes. That way, you will know that you are in control of your financial situation. In turn, the sense of control shuts down the whole debt stress process and diminishes anxieties and worries.