Financial stress is widespread in our society. Some are extremely stressed, and some are occasional, but financial stress results in health problems like a migraine, cardiovascular diseases, and insomnia and also affect our thinking ability. According to the journal ‘Diabetes Care’, stress from critical financial situations may lead to the risk of heart attack, diabetes, and even stroke.
How financial stress affects health
People experiencing financial stress suffers from anxiety, and they try to engage themselves in drinking, smoking, overeating and other unhealthy habits which in turn increase stress. They tend to ignore health and the healthcare necessities for less money. People in financial stress tend to have less sleep and get filled with unhealthy emotions like hopelessness, frustration, depression, etc.
How to cope with financial stress
You can reduce stress when you assess your present situation correctly and know how to handle the economic situation to have control of your life. You need to understand debt cycle and find the ways to get out of the debt trap. Try to pull out yourself from the pressure of being in debt and develop some simple habits that are easy to maintain.
If you need money find the ways to earn money.
Make a budget and build satisfaction within yourself to be comfortable with budgeting and living less.
While you are working on reducing debt also try stress-reducing techniques like breathing, meditation, exercise, yoga, music, and others.
No matter how much health conscious you are, there are chances of suffering from medical illness. And if by chance you do not have any insurance to cover it, you will be stuck. The medical procedures and treatment is always expensive. One does not always have sufficient money to deal with medical emergencies and money. At such times, planning or scheduling your surgery enables you to get your medical procedure financed. Also, government programs offer limited coverage and help which makes appropriate financing even more important.
Medical financing is a simple way to keep patients easy. The article contains the best medical financing methods that can help you in tough times.
Credit card: It is one of the most straight forward and easiest methods of emergency financing. You can simply use y our credit card to pay the hospital bill. If possible, get a cash back card so that you can avail a little cash back on your hospital bill. The upgraded credit cards allow you to pay back the money in 18-months without charging any interest. Just make sure to repay the money in the certain time period.
Medical credit card: Medical credit cards should be used with utmost care. With these 19 cards, if you are unable to pay the amount back within the grace period, you are levied with heavy penalties and interest.
Personal medical loans: You can take signature loans at the time of emergencies. Such loans do not require any collateral. If you have a good credit score, it is easy to avail this loan. These loans are generally approved within 18 hours of applying and are disbursed within next 72 hours.
Peer-to-peer lenders: You can raise money from the market or borrow it from your friends or relatives. This is the most common financing people opt at the time of medical emergencies.