Debt = Sickness... Literally!
Financial stress triggers a fight-or-flight response and floods the body with stress hormones, causing everything from heart pounding to increased sweating, Harvard Health Publications reports. While that may be useful if you are trying to fend off a tiger, the publication states that "over time, repeated activation of the stress response takes a toll on the body."
Design with Ease
According to a 2014 "Stress in America" survey by the American Psychological Association, 22% of people polled reported "extreme" stress over their finances.
That can lead to anxiety or depression. "Empirical studies have found that financial strains such as personal debt and home foreclosures are strong predictors of depression, general psychological distress, mental disorders and suicidal ideation," according to a 2013 study in Social Science & Medicine.
And, just when you though it could not get any worse…
A recent working paper published by the Federal Reserve Bank of Atlanta even suggests debt is linked to higher mortality rates. Becoming seriously delinquent on just one account caused a 5% increase in mortality risk in the three months after the delinquency, although risks eventually return to normal. On the other hand, a 100 point credit score increase caused a 4.38% decline in mortality risk.
Conclusion - Avoid the dis-ease of debt and seriously look into a different approach to managing your debt service and building your wealth to boost your longevity of your life.