SAN FRANCISCO–Credit unions have another reason to work with their members on finances, with new research showing Americans who report poor financial health also tend to have poor physical health.
The new survey released Thursday by online lending marketplace LendingClub found people in poor financial shape are significantly less likely to practice healthy physical habits––59% do not get routine check-ups and 60% do not get regular exercise––and are more likely to skip preventative health measures due to cost (38%).
"Bad wealth begets bad health," the survey concluded.
The Lending Club survey isn’t alone in its findings. A survey by the American Institute of CPAs found that more than half of Americans with debt say that it's negatively impacted their lives. Similarly, Americans said money is the No. 1 cause of stress in their lives, according to data from the American Psychological Association.
How Effects Are Being Felt
Among other ways that financial stress effects health:
Depression and anxiety. People with greater financial stress have more symptoms of depression and anxiety than those who aren’t financially stressed, according to a 2013 study published in the journal Anxiety, Coping and Stress.
Migraines. A study released in September found that for many people, financial stress is related to getting more migraines. Indeed, people with a certain genetic variation of the so-called CLOCK gene -- it helps control things like body temperature and levels of the stress hormone cortisol; about ⅓ of the population has this variation -- are more likely to get migraines in times of financial stress.
Ulcers and digestive issues. An Associated Press poll showed people who are under high financial stress are way more likely to complain of ulcers and digestive problems (27% of them said they had these issues) than those who have low financial stress (8%).
High blood pressure and heart attacks. High levels of debt may also lead to higher blood pressure, according to a 2013 study of 8400 young adults published in the journal Social Science Medicine. Treating hypertension can cost you $700 or more per year, data shows annual expenditures for those treated for hypertension averaged $733 per adult in 2010. What’s more, people with high financial stress are more likely to report they’ve had a heart attack or an arrhythmia (6%) than those with low financial stress (3%), according to AP data.
Disrupted sleep. Well over half of both women (68%) and men (56%) say they lose sleep at least occasionally because they’re worried about money, according to a survey of 1,000 adults released in 2016 by CreditCards.com.
As CUToday.info reported earlier, Americans’ credit card debt hit a new high of more than $1 trillion this year.