30 Aug Financial Stress Hurts, Literally
Money worries is no fun. Financial stress has been known to have a whole host of negative effects, including a strain on our relationships and ability to give our best at work. However, a recent study has shown that financial stress can be quite painful, literarily.
Researchers led by public policy professor Eileen Chou at the University of Virginia suggest found that even simply thinking about the prospect of financial insecurity can cause physical pain. For example, people reported feeling almost double the amount of physical pain in their body after recalling a financially unstable time in their life as compared with those who thought about a secure period. The researchers also found that, when we feel financially insecure, our sense of control diminishes.
This research highlights the important role of financial planning plays in reducing not only financial but also physical and emotional stress. As financial planners, nothing gives us more joy and satisfaction to be able to offer our ears to clients; to discuss their hopes and aspirations and to help them then regain control of their financial future.