How Financial Stress Impact Older Adults

How Financial Stress Impact Older Adults

As you age, you get exposed to financial stress that could be as a result of so many things including depleting savings, loss of income, health problems, reduced income, and many other issues. You should never ignore or brush off the stress you feel over finance. Stress, if not managed, can affect your health in many negative ways, especially if it is allowed to go on for longer periods. So, there is need to know how to deal with financial stress. Otherwise, you won’t enjoy your golden years as you should, and you might even die prematurely.

Impacts of financial stress on the elderly

  • Causes them to drink or smoke more

Financial stress can affect seniors in many ways. It can make seniors to drink or smoke more. Based on research, male seniors are 30 percent more likely to drink or smoke more due to financial stress.  It’s important to understand that smoking or drinking won’t solve any problem. In fact, doing so will only impact your physical and mental health negatively. The best thing to do is to address the real issues and find constructive ways to get out of financial problems.

  • Causes mental illness

Constantly living with financial stress can make an elderly person develop mental illness. Stress, regardless of the cause, increases your risk of mental illnesses. Seniors who suffer from financial stress for long periods are more likely to suffer from low-self esteem and even depression.

  • Loss of appetite

When you are stressed, chances are that you will lose your appetite and you might end up skipping meals or not eating at all in some instances. This means that you will not be eating healthily as you should. Failure to eat well can weaken your immune system and make you more prone to diseases. Failure to eat enough will also make you lose energy and physical strength. This makes you more likely to fall. Don’t allow financial stress to stand on your way of eating balanced diet and maintaining good physical and mental health. Identify what you can change and do the necessary. On the same note, leave alone the financial situations that are not in your power to control. You can also contact your personal finance advisor to suggest for you what you should do to improve your finances or just go ahead and get Medicare Supplement plans 2019

  • Physical symptoms

 While you are under stress, you may start experiencing certain physical symptoms such as chest pain, decreased energy, headaches, insomnia, forgetfulness, anxiety, upset stomach, decreased desire, and defensiveness and so on.