When Money Hurts - How Financial Stress Can Lead to Addiction
Financial stress affects many people, and it’s more than just worrying about money—it can deeply impact your well-being and even lead to addiction. In the United States, a staggering 72% of adults say that money is a significant source of stress, according to the American Psychological Association (APA). Whether it’s struggling to pay rent or dealing with a mountain of debt, financial stress can take a serious toll on your mental and physical health.
Understanding Financial Stress
Financial stress isn’t just about not having enough money; it’s the emotional strain that comes with struggling to meet your financial obligations. This stress can be especially tough for those with low incomes, who may find it hard to cover basic needs like housing, bills, and groceries.
People facing financial stress often have additional challenges at work, such as job insecurity or unsafe working conditions. This can create a cycle of stress, where the fear of losing a job prevents people from seeking better opportunities.
Access to resources also plays a role. Without health insurance, for example, managing the mental health effects of financial stress can be even more challenging. While it’s normal to worry about money from time to time, if these worries start to dominate your thoughts and affect your daily life, it’s time to seek help.
Financial stress doesn’t just impact your mental health; it can also have serious physical effects. Chronic stress can lead to anxiety, depression, and changes in behavior, such as social withdrawal. It can also cause physical issues like headaches and stomachaches.
Impact on Your Health
Financial stress can have a range of negative effects on your health, including:
Delayed healthcare:
People under financial stress often cut back on healthcare expenses, leading to worse health outcomes. In 2018, 29% of American adults delayed seeking medical care due to cost, according to Gallup.
Poor mental health:
Studies have shown a link between debt and mental health issues like depression and anxiety.
Poor physical health:
Chronic stress can lead to a variety of physical health problems, including heart disease, diabetes, and sleep disorders.
Unhealthy coping behaviors:
Financial stress can lead to unhealthy behaviors, such as overeating or substance abuse, as people try to cope with their stress.
How Financial Stress Can Lead to Addiction
Financial stress can play a big role in causing addiction, such as alcoholism and substance abuse. The connection between financial stress and addiction is complicated, but there are several important factors that contribute to this relationship:
Escapism:
Individuals experiencing financial stress may turn to substances as a way to escape their problems temporarily. Alcohol and drugs can provide a sense of relief or numbness, offering a temporary break from the stress and anxiety associated with financial difficulties.
Coping Mechanism:
Substance abuse can be a way to cope with the emotional toll of financial stress. Individuals may use substances to self-medicate and alleviate feelings of depression, anxiety, or hopelessness that often accompany financial strain.
Peer Influence:
In some cases, individuals may be influenced by their social circle to engage in substance abuse as a way to cope with financial stress. Peer pressure and the desire to fit in can contribute to the development of addictive behaviors.
Mental Health Impact:
Financial stress can worsen underlying mental health issues, such as depression or anxiety, which are risk factors for addiction. Substance abuse may be an attempt to manage these co-occurring conditions.
Why Does Stress Cause Alcoholism or Addiction?
Stress is a natural response to challenging situations. When faced with stress, the body releases hormones that can trigger the brain’s reward system. This can lead to a sense of pleasure or relief when engaging in certain behaviors, such as drinking alcohol or using drugs, which can contribute to the development of addiction over time.
Chronic stress, such as that caused by ongoing financial difficulties, can dysregulate the brain’s reward system, making individuals more susceptible to addictive behaviors. Additionally, stress can impair decision-making and impulse control, making it harder for individuals to resist the temptation to use substances as a coping mechanism.
Tips for Coping
While financial stress can be overwhelming, there are steps you can take to manage it:
Create extra income sources:
Look for ways to boost your income without adding too much stress. This could include taking on a side job or freelancing.
Review your budget:
Regularly review your budget to find areas where you can spend less. This will make it easier for you to manage your money.
Practice stress management:
Incorporate stress-reducing activities into your daily routine, such as exercise, meditation, or yoga.
Understand debt:
Learn about debt and make a plan to pay it off. Begin by paying off debts with the highest interest rates first.
Overcoming Financial Stress
Solving your financial problems won’t happen overnight, but taking steps to address them can help ease your stress. Remember, you’re not alone—seek support from friends, family, or a mental health professional if you need it. And don’t forget to take care of yourself—exercise, relaxation, and connecting with others can all help you manage your stress and improve your overall well-being.
If you or someone you know needs a place to recover from substance abuse, contact Resilient Home Living at (316) 749-8029 or email contact@resilienthomeliving.com. We offer fully furnished, affordable shared housing for individuals in the early stages of recovery.