You know debt is bad but did you know debt is also bad for you? According to a recent poll, those who carry a heavy debt load reported more health problems in the previous 12 months. So is debt making you ill?
According to a poll by AOL and the AP, those with a lot of debt were more likely to report health problems. These health problems ranged from ulcers to headaches and migraines to more serious conditions including heart problems.
While I'm not a big believer in most of these studies, especially anything the Associated Press puts out. However, I think I can put this study to some use. I'll use any tool at my disposal to kick people in the pants and get them to start paying off their stupid debts.
The Good
This study shows (though I'm not sure how scientific it really is) that debt is a bad thing. Debit is not OK. I'll scream that from the rooftops if I have to. There is no such thing as good debt, no matter what BS your Realtor or mortgage broker may feed you.
The Bad
I hate the way the media uses scare stories to sell papers. YOUR DEBT IS KILLING YOU! Ahhhhh! We get numb to all scare stories and we're just left with a general sense of unease after reading the news. It's hard to determine what's actually bad for you and what's just hype. Here's a hint, don't take your health advice from the newspaper, a doctor, nutritionist or personal trainer is probably a better source.
The BS
Again, I'm not a believer in surveys and polls. I like good old common sense. Of course indebtedness is stressful. It took a PhD to find this out?
For those with high levels of stress over personal or family debt, "life often is plagued by considerable unhappiness and serious stress-related illnesses," explains survey author and research psychologist Paul J. Lavrakas, Ph.D.
Really? I'm shocked! Who doesn't know that? What else does this genius have to say?
Surprisingly, it is not the unemployed who are hurting. The profile is working mothers without a college education who in 2007 had a household income either between $10,000 and $19,999 or $60,000 and $79,000. And they're democrats.
Conversely, the relationship between debt and stress is less strong for republican and retired college-educated men who do not have children living at home whose income was either more than $150,000 or less than $10,000 in 2007.
Really? Poor single mothers are stressed out? No kidding! I'm raising one child with my wife and I'm stressed out. I couldn't imagine doing it on $10,000 by myself.
What I'm more curious about is does you level of wealth affect your political beliefs? For example if you're older, well educated and financially secure are you more likely to be a Republican? Conversely, if you're a young, poor, less educated woman are you more likely to be a Democrat?
For the record I'm not a Democrat or a Republican, I'm too wealthy to be one and too poor to be the other, I guess. (That's a joke but I'm really not affiliated with either party)
So if you believe the results of this poll are accurate, you have one more reason to get out of debt – your health. In the end I think it's best to turn off the TV news, put down the newspaper, go online and do your own research.
Don't let the media scare you. Pay off your debts and don't get into any more! In the end you'll be healthier, happier and wealthier.
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