As of recently there has been an extensive amount of research has been completed in regards to mental, physical and financial health – proving that they are all linked in numerous ways.
In the last year Canadians have been struggling with the effects of the pandemic, not only are they concerned about not getting sick but it is adherently clear that financial stress is a major problem amongst most Canadians as well. Many have debts stemming from a loss of work, escalating debt, unexpected expenses, or a combination of factors, financial worry is one of the most common stressors in modern life. Previous to the pandemic 48% of Canadians lost sleep over their debts and 44% mention it would be near to impossible to meet all their financial obligations
What is financial stress? This is the emotional tension that is specifically related to money. Financial stress is not exclusive, everyone experiences it but more often found in low incomes households. This stems from not earning enough to meet your basic needs such as paying rent, paying bills and buying groceries.
If you have financial problems you will experience negative effects on your mental and physical health. Financial stress can lead to anxiety, depression, behavioral changes or physical symptoms like stomach aches or headaches.
Here at Debt Review we want to provide you tips on how to manage your financial situation, so you can feel more in control of your life, reduce your overall stress and build a better, more secured future.
Step 1: Talk to someone – Call Debt Review Canada today to get a free debt relief assessment.
Step 2: Create a budget – This will allow you to create a spending plan for your money, and ensure you will always have enough money for the things that are important to you.
Step 3: Practice relaxation techniques – Any method or activity that helps you relax, such as meditation or deep breathing.
As Canadians, we are blessed to be able to get government assistance with our debts. Debt Review understands that in today’s uncertain times it is hard to manage your debts, we urge you to reach out to us as a support system – you are not alone on this journey.