Carrying a lifetime of unsecured debt such as credit card and payday loan obligations can result in physical pain that interferes with daily activities. a current study takes place.
The steady stream of stress and anxiety associated with such debt leads to poorer health later in life, according to University of Missouri researcher Adrianne Frech, a medical sociologist and associate professor at the MU School of Health Professions.
Frech and the study co-authors used data from the US Bureau of Labor Statistics to study the financial health of nearly 8,000 baby boomers ages 28 to 40. She then checked her physical health at the age of 50.
Their results were published in the social science journal SSM – Population Health.
In a press release, Frech says:
“People with consistently high debt were 76% more likely to experience pain that interfered with their daily lives than those without unsecured debt% more likely to experience pain disorders than those without unsecured debt.”
As people stuck in low-wage jobs struggle, they take on more debt, which leads to more stress that has a negative impact on health. These complaints impede the ability to work, and the cycle continues, says Frech.
Naughty says this cycle is “difficult to reverse once it starts”. It also claims that most people are deeply in debt because of “systematic inequalities” that lead to “desperate circumstances” that force them to borrow just to make ends meet.
Eliminating these inequalities is necessary if we hope to end the downward spiral caused by increasing unsecured debt, she says.
“Ideally, we could prevent individuals from taking on unsecured debt, and that starts with raising wages so people can meet their basic needs.”
Are you looking for tips to get rid of your debt? Read “8 Safe Ways to Get Rid of Debt ASAP.”
Disclosure: The information you read here is always objective. However, sometimes we get compensation when you click on links in our stories.