Taking out a loan to meet your needs is good but it is good till the time it is within your manageable limits. Since loans are now more easily accessible and offered in various forms for various needs, thanks to the liberal lending policy and the increased borrowing power of the consumer, you can have multiple debts at one time. This is not bad either but once again, all your debts should be within your control.
Debt can be compared with sugar you put in your cup of tea. Just like too much of it can spoil your tea, similarly too much debt can spoil your health. Whether you have too much of student loan, credit card debts or medical bills to pay, it will all affect your lifestyle and relationship as well.
If you have too much loans and struggle to meet your monthly bills it will start to show its negative effect. It is then a good debt becomes a bad debt. Such a situation will not only affect your health and increase the number of visits to the hospital and even stays it will have other serious effects as well. You will be surprised to know that, too much debt can also affect your relationship. Lot of research shows debt is one of the primary causes of broken relationships.
The health effects
It is true that you will need money, a lot of it, to live in today’s world. With your limited ability you may feel money is scarce at times when you may think of taking out a loan. Ideally, this seems to be the only option left to many to keep up with the fast pace and variety of demands of life. However, it is good to have debt up to a certain limit. As soon as your debt crosses that limit, it will start to affect your health in a negative way. You can have a wide range of health issues.
- You may face problems such as insomnia. The debt stress will make you feel restless in your sleep and keep you up and awake all night. This will not only make you feel drowsy all through the following day but if it continues this way, it will have some serious health issues in the long term.
- Debt stress may also lead to heart attacks if you ignore it and leave it unaddressed for a long time. When you have too much debt you will have to look for ways to get that extra money which could have helped you to pay off the borrowed amount. This constant worry and search for debt relief at sites such as com and others will create a lot of mental stress which would lead to anxiety and depression and hence raise the chances of heart attacks.
- Debt can also raise your blood pressure due to the stress and anxiety that you will experience on a regular basis. Study says that most of the people who have debt also have high blood pressure. It is also said that those people who have high blood pressure stands a higher chance of heart attacks and strokes than those who have their pressure and debt under control.
- Since you will sleep less, you will also have lost your appetite and develop irregular food habits as well. This will in turn affect your immune system. According to biological science, the immune system of your body keeps you free from diseases. When this is affected you will experience a lot of health issues right from cough and cold to migraines, headaches and et al.
- When your debt stress becomes chronic and you succumb to it all your body parts and organs will also get affected. This is due to the increased blood pressure. As you may know, blood is the primary carrier of your body. When this is affected it will create all sorts of problems in your body.
Therefore, debt is the primary factor for all types of health issues right from blood pressure to blood sugar, anxiety and depression, lowered immunity of your body, different chronic ailments, restless sleep, faulty eating habits and much more.
Increased hospital visits
All of these are the result of one single factor, debt stress. With such deteriorating health conditions it will surely raise your expenses due to increased doctor visits. This will in turn drain out more money unnecessarily which will even make your financial situation worse.
If you had your debts under control, you could have led a happy and healthy life. This would have helped you to prevent these unwanted expenses and thereby saved and created a fund to make the monthly payments for your debts.
The increased doctor visit and expenses will never be less and will even result in another debt added to your list if debts, a medical debt. When all these debts reach unmanageable limits you will be left with three options such as:
- Settle your debts for a low amount with your creditors and thereby damage your credit score
- Choose to take out the best possible debt consolidation loan to roll all your debts into one single monthly payment or
- As a desperate measure, file for bankruptcy and damage your financial status and credibility for at least seven to ten years.
You can save your hospital expenses and doctor’s visits simply by taking your debt seriously right from the very moment you take it on.
It affects relationship
Chronic pain in the neck and back, acute and frequent headaches are common issues of stress. These will keep you away from social gatherings as well thereby affecting your social relationships.
Debt also affects the relationship indirectly. When you do not keep well and have to visit the doctor often and take medications most of the time, you will experience mood swipes, irritation, sudden anger, and other behavioral changes. All these will affect your relationship with your kids, family members and your spouse and may even lead to divorce.
Therefore, to lead a healthy and happy life, do not take on too much of debt.