Financial stress can be a burden, but did you know it can also have a negative effect on your health? Understanding the relationship between financial and physical wellness can help you improve both areas of your life.
Financial stress often causes anxiety, depression and hopelessness, and that stress can also contribute to heart disease, high blood pressure, insomnia, more frequent colds and minor illnesses and more. Plus, many cope with financial stress in unhealthy ways, such as smoking, drinking and overeating, which can decrease overall health.
Impact on Medical Care
Often, people with financial burdens neglect important preventive care or medication regimens. While this saves money in the short term, it often leads to more serious health problems down the road—and more medical bills.
Making Smarter Decisions
Health care is expensive, but it should not be neglected due to financial trouble. Instead, there are ways to spend your money more wisely, which will improve your overall health and ease your financial strain.
Coping with Financial Stress
Although the strategies above will help your medical costs and overall health, you likely still face financial worries. Here are healthy ways to cope with that stress and make it more manageable:
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In February 2020, The Friedman Group joined AssuredPartners, the 11th largest insurance brokerage in the U.S. This partnership provides us access to additional capital and a national footprint that enables us to continue to negotiate the most favorable coverage terms and conditions for our clients, and allows us to provide an even broader spectrum of risk management support services.