Are You Worried Sick about Debt?

With the current shaky economy, many people know that the stress of having too much debt can be a pain in the neck. But did you realize that it can also – literally – be a pain in the back, the head and the stomach? A recent poll conducted for the Associated Press and AOL found that people with higher levels of stress caused by debt reported more health problems than those without much stress from debt (see chart below).

Take Charge!
Americans may be just sick over the state of the economy, but there are steps you can take to keep your debt load and stress level in check. Try these tips:

Create a realistic budget so you can live within your means. Write down everything you spend for a couple months, then look for places to trim expenses. You might also want to consider ways you could boost your income.

Contact your creditors if you're having trouble making payments. It may be uncomfortable, but dealing with financial problems head on is the most effective way to keep them from escalating.

Seek expert help. A reputable credit counseling agency can help you analyze your situation and find a way to pay off debt. They may be able to negotiate better rates and terms with your creditors. Consolidating your debt may lower your monthly payment and total interest charges.

Learn healthy ways to deal with stress. You may have other pressures in your life, too, such as work or family. Handling stress in a healthy manner – and steering clear of counterproductive strategies such as abusing alcohol, overeating or isolating yourself – can help keep stress from affecting your health (see "Stress Busters").