LIL' BUDDY'S BLOG: Stress Often HIGH for Humans in Debt!
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
I'm in a VERY GOOD MOOD today! My beloved Chicago Cubs won another game at Wrigley Field today - their 11th straight at home! Yes, it is way too early to think about October right now - but this Little White Dog can dream, can't he?
You know, even in times where others feel stress - like my human dad, Dean, on the 25th of each month, when he sits down to pay his monthly bills - I'm generally a pretty cool dog. "Cucumber Pup," that's what they call me!
Mind you, I really don't have a lot to get stressed about! My human parents pay for all my meals. They take me out when I need to walk. They take care of me when I get sick. And they pay for all of this themselves (I WOULD PAY, every once in a while - but it seems I'm always forgetting my wallet!)
But in these tough economic times, as thousands of humans have mounting bills, from everything from house payments to credit card charges, debt often turns into STRESS. And stress can lead to real health problems!
These health issues can range from everything from sore backs, headaches, and indigestion, to ulcers, or serious heart attacks, or, in some cases severe clinical depression!
Thirty-eight-year-old Edward Driscoll of Braintree MA has over $10,000 in revolving debt. Every month, at bill payment time, he frets and frets about where the money to pay the bills will come from. He has developed stomach ulcers - his wife, Kimberly, panic attacks.
Most folks handle their debt OK, according to a recent survey by the Associated Press, in conjunction with AOL. Others, however, are "suffering terribly due to their high debts, and their health is likely to be negatively impacted by them," according to Research Psychologist Paul J. Lararakas. His findings are further supported by medical research, who link higher levels of certain illnesses to today's stressful economic times, and higher costs of paying daily living expenses. The AP/AOL Poll indicates stress over debt is 14% higher among those surveyed than it was four years ago, in 2004.
The Poll indicates 27% of those indicating financial stress had ulcers or other digestive disorders, compared with 8% of survey respondents reporting lower stress over their outstanding debts. Migraines or other headaches were suffered by 44% of the high-debt-stress group,
Twenty-nine percent suffered severe anxiety or panic attacks, and 23% experienced moderate to severe depression, compared to only 4% of those with less debt stress. Six percent reported having heart attacks or other cardiac disorders.
And greater than half of those most stressed about their debt experienced muscle tension, or chronic back pain. Less than one-third of the group reporting low stress over debt experienced the same medical issues.
Humans stressed over debt had much more trouble focusing on the task at hand, and had trouble sleeping. Often, these folks got upset for no good reason.
Recent medical research supports the fact that many of the systems reported by AP and AOL are typical of chronic stress disorder. Physiologically, the body reacts with a "fight or flight" response. This releases adrenaline and cortisol, the stress-related hormone. This visceral reaction allows quick reaction during an emergency, but the chemicals the body releases can cause physical problems if the stress reaction lasts too long. Blood pressure can rise, as can heart rate. Stress can negatively impact memory, digestion, state of mind, and even affect one's immune system.
Contrary to popular belief, however, stress cannot CAUSE stomach ulcers - but they an increase their pain!
In 2008, most in the U.S. are taking on increased debt. Tough economic conditions, caused by a slowing economy, hundreds of job losses, staggering price increases for food and fuel, and the widespread decline in home values, and accumulated equity, create strain in many folks budgets.
Debt on Revolving Credit Cards is up nearly 20% since 2004. The average auto loan - $27,397 today, versus $24,888 four years ago. Home mortgages, in aggregate - up nearly 35% during the same time period - to $10.5 Trillion!
In total, the share of take-home pay that goes to serving financial obligations was 20% of the average American human's paycheck in 2007, versus 18.5% three years earlier - an increase of eight percent!
Which demographic groups experience the highest level of debt-related stress? The survey found that upwardly-mobile,"striving," middle-class families had the greatest levels of stress over their debts. Other high-stress demographics: women, couples with young children, working families with low household incomes, those who graduated high school but did not attend college, and Democrats. Those less likely to be impacted by stress over debt - Republicans, retirees, men, empty nester families, and those with a college degree.
Thankfully, Little White Dogs are not included in the high-stress group!
When times get tough for me, I retreat to the relative security of my pen in the back bedroom. My human Dad and Mom take on the stress - and, so far, they've been hanging in there!
How about YOU, you dogs? How are you holding up? Let me know!
AND, HEY - CHILL! OK?
See Jeannine Aversa's story in yesterday's Chicago Tribune for more details.
YOUR ACE REPORTER ON FOUR PAWS,
BUDDY HOLLY MOSS & DEAN'S TEAM CHICAGO
