Debt Hurts

Here's some information that says debt hurts more than your pocket -- it can impact your health:

The stress from deepening debt is becoming a major pain in the neck — and the back and the head and the stomach — for millions of Americans.

When people are dealing with mountains of debt, they're much more likely to report health problems, too, according to an Associated Press-AOL Health poll. And not just little stuff; this means ulcers, severe depression, even heart attacks.

Among the people reporting high debt stress in the new poll:

• 27 percent had ulcers or digestive tract problems, compared with 8 percent of those with low levels of debt stress.
• 44 percent had migraines or other headaches, compared with 15 percent.
• 29 percent suffered severe anxiety, compared with 4 percent.
• 23 percent had severe depression, compared with 4 percent.
• 6 percent reported heart attacks, double the rate for those with low debt stress.
• More than half, 51 percent, had muscle tension, including pain in the lower back. That compared with 31 percent of those with low levels of debt stress.

On a related note, Hillary Clinton is reportedly soon to be impacted by several of these maladies. ;-)

Comments

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Remember, there is good debt: low-cost student loans that further your career and earning potential, home loans that when taken advantage of correctly build out equity over time and hedge against taxes and even low-cost car loans which allow you to drive to work and have earnings while hedging against inflation and the fact that as soon as a car leaves the lot it loses significant value.

Then, there is bad debt: credit-car loans, borrowing from 401ks, etc.

The smart thing is to understand when it is ok to have debt and when it is not!