How Paying off Debt Can Improve Your Health


Paying down debt makes sense from a financial perspective, but it comes with surprising health benefits, too.

Whether you have maxed-out credit cards, a slew of online loans, or one big line of credit, these debts have the power to make you feel ill.

It’s a good idea to pay down your debt as fast as you can, so try budgeting to make extra or early payments. This advice comes from the online loan experts at MoneyKey, who allow their borrowers to make pre-payments without penalty.

However, they warn other online lenders may not have the same policies. Some online direct lenders may charge a fee for making unplanned payments against your balance.

It’s always a good idea to double-check this before you send money. If it’s all clear, put your head down and draw up a plan to pay off your debt. You’ll have the following health benefits to look forward to once you do.

You’ll Feel Less Stressed

It doesn’t matter what kind of debt you’re nursing. Knowing you owe money is stressful. That’s true whether it’s an outstanding line of credit account, several overdue credit cards, or a few direct payday loans.

Long-term stress can take a toll on your body. It can cause headaches, stomach issues, cardiovascular diseases, diabetes, and more.

You might start feeling better as soon as you put a plan of action together simply because you have a plan. Debt can be overwhelming, but your plans help you feel in control. You’ll also feel like a rock star once your start to see your balances drop.

You’ll Get a Better Sleep

Paying off your line of credit or online installment loan gives you one less thing to worry about when you’re lying in bed at night. With your finances off your shoulders, you’ll find it easier to fall into a deep, restorative sleep.

Regular, quality sleep helps you feel refreshed and ready to go in the morning. It improves your concentration levels and memory, and it can also decrease your chances of developing depression, heart diseases, and diabetes.

The data shows more than half of U.S adults (56 percent) lose sleep over financial worries. Of those whose finances keep them up at night, 18 percent point to their debt as the culprit. If you find it hard to catch some Zs because of your debt, it’s time to search out help.

You’ll Boost Your Confidence

Who isn’t proud of kicking debt to the curb? It’s a serious accomplishment that takes a considerable amount of time, effort, and, not least of all, money.

After spending so long feeling ashamed of your debt, you’ll feel like a different person without it. You’ll know you have the guts and determination to take on something this big, and you’ll feel empowered for achieving your goal.

More importantly, being free of debt sets you up for financial freedom. As long as you keep to a budget that prioritizes savings, you’ll be more confident in any situation — whether it’s an unexpected emergency or saving up for a down payment on a home.

You might even pivot this newfound self-esteem in other areas of your life by pursuing a new career or relationship.

Bottom Line

Paying back what you owe comes with a lot of benefits — just check the list above. If you’re ready to put your financial troubles behind and start a new, healthier, debt-free life, check out these ways to pay down your loans.


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