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Mounting evidence suggests that financial worries, regardless of income level, can profoundly impact physical and mental health, with studies linking money-related stress to a range of ailments from anxiety and depression to heart disease and chronic pain.

The stress of managing finances, exacerbated by factors such as housing affordability, escalating debt levels and stagnant incomes, has been found to manifest physically, causing symptoms like headaches, back pain and gastrointestinal discomfort.

According to a study published earlier this year by a team of British researchers, financial strain is the most detrimental stressor to health among various life challenges such as divorce, disability and bereavement.

Carolyn McClanahan, a financial planner and former emergency department physician, has emphasized that financial stress transcends socioeconomic boundaries, affecting individuals across society.

"Your socioeconomic status is only one piece of the puzzle," McClanahan said, according to Time.

"Financial stress cuts across every segment of society, and so do the health problems that come with it."

Meanwhile, a qualitative study conducted by the Financial Health Network showed the pervasive impact of financial worries on health, revealing a common thread of stress and its adverse effects among participants aged 18 to over 65 and participants with annual incomes less than $15,000 to more than $ 100,000.

"We've been hearing a lot about people having a hard time keeping up with rising prices or dealing with financial shocks and being overwhelmed by debt," Angela Fontes, the organization's vice president of policy and research, said.

"And the pandemic, which exacerbated mental health challenges for a lot of people, seems to have made everything worse."

Researchers attribute the detrimental health effects of financial stress, including credit card and medical debt to both physiological and behavioral responses. Those with chronic debt reportedly tend to suffer inflammation and joint pain by age 50, unlike people with little to no debt.

A study from the University of Virginia and Columbia University even claimed that just thinking about financially stressful things can be harmful to your health.

In the study, participants were asked to contemplate various anxiety-inducing scenarios while researchers measured their pain levels before and after the exercise, either as self-reported or based on how they could keep their hands in a bucket of ice-cold water.

Results showed more pain and less tolerance for subjects after thinking about financially stressful situations.

Persistent stress triggers biological reactions such as the release of hormones cortisol and adrenaline, leading to inflammation, weakened immune function, and elevated blood pressure over time.

Behavioral responses, including avoidance of medical care and unhealthy lifestyle choices, further exacerbate health risks associated with financial stress.

To mitigate the health consequences of financial strain, experts recommend proactive measures such as building emergency savings and adopting stress-reducing practices like exercise and mindfulness.

Establishing a financial safety net and prioritizing self-care can help people bolster their resilience in the face of financial challenges, promoting both financial and physical well-being.