Financial WellnessStress Relief

How Financial Stress Affect Your Sleep and Health

Recent studies show the link between financial stress on sleep and your overall wellbeing.

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According to a recent Bankrate survey, money worries are the biggest cause of sleepless nights. “When asked to narrow the cause of their sleepless nights, 23% of U.S. adults answered that money issues, mainly the ability to pay everyday bills, was the number one reason.”

We all know what it feels like to have a good night’s sleep that helps us meet the next day’s demand with a clear mind and energy.

In a 2019 Better Sleep Council study, it revealed that financially stressed people fall into the worst sleepers with close to two-thirds concerned about their financial future. This has a profound impact on their sleep quality affecting mental, physical, and emotional wellbeing.

People who aren’t able to sleep are not able to rest sufficiently and function properly during the day. So if you’re unable to shut-your-eyes and sleep it may also impact your financial health. This has an impact on job performance as well.

According to the National Institute of Health, “while you’re sleeping, your brain and body don’t just shut down. Internal organs and processes are hard at work throughout the night.” Dr. Merrill Mitler, a sleep expert and neuroscientist at NIH says, “Sleep services all aspects of our body in one way or another: molecular, energy balance, as well as intellectual function, alertness, and mood.”

And research shows that lack of sleep “increases the risk of obesity, heart disease, and infections. Throughout the night, your heart rate, breathing rate, and blood pressure rise and fall, a process that may be important for cardiovascular health. Your body releases hormones during sleep that help repair cells and control the body’s use of energy. These hormone changes can affect your body weight.”

So what can you do to lessen financial stress to get a better night’s sleep? Small steps can be helpful in alleviating the gravity of your financial situation. Most often we’re stressed about the unknowns. We don’t know how much debt we owe and how much money we actually need to cover our bills. It may seem like a ridiculous assertion, but I’ve many people who don’t know their actual financial numbers.

When we’re stressed about our finances, it’s challenging to dig deep into the situation. It’s easier to avoid it altogether. However, avoidance is what keeps the thoughts lurking in our minds which leads to tossing and turning at night. I’ve been there and this is what I’ve learned worked for me.

How to Manage Financial Stress and Sleep Better

  1. Set aside a day and complete a financial assessment. Get ready to face your fears head-on. You might even be surprised to uncover some bright spots. A financial assessment goes over in detail your income, expenses, savings, and debt. Learn more about personal financial analysis.
  2. Create your budget. Once you understand where you are financial, it’s much easier to reallocate your current income into the right expenses. Learn how to start a budget.
  3. Get on the phone and negotiate. Most financial stress is related to “not enough money” to cover existing expenses. Call utility companies, service providers, and subscription services to negotiate, eliminate, or find a cheaper alternative. Learn how to lower expenses.
  4. Start a side hustle. Chances are you have a skill someone needs or time to help someone who needs it. Now, that you know how much more cash you need per month, you can offer services for cash. Find your side hustle.

Find the perfect financial apps and services to help you budget, track your spending, consolidate debt, and lower your expenses.

Jason Vitug

Jason is the founder of phroogal, creator of the award winning project Road to Financial Wellness, and author of the bestseller and New York Times reviewed book, You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life.

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