How Millennials Can Combat Crippling Debt Stress
Millennials are the actual contributors for the future world. They are creative, enthusiastic, loyal and tech savvy. They love to introduce new creations to this world, which are accepted and loved by the society.
However, as today you can see millennials are the one who are mostly prone to debt and it associate stress in their lives.
According to a blog post, those with high levels of debt stress suffer from at least three related illnesses, including ulcers or digestive tract problems, migraines or other headaches, and severe depression.
Alarmingly, people with high levels of debt stress are twice as likely to have a heart attack. In its fourth quarter report last year, the Federal Reserve Bank of New York remarked that outstanding student loan balances are at $1.2 trillion, and that 11.6% of aggregate student loan debt was 90+ days delinquent or in default in 2015.
So if you ask how to combat debt and stress being a millennial, discussed below are seven ways to combat achieve that.
1. Manage Student Loans
If you are still getting your education, meet with afinancial advisor in order to gain a better understanding of the student-loan that you are reliable on, including future ramifications. This will help you to be more confident about your future spending and to set up a certain amount of time to clear all your debts.
2. Focus on Career
Think about working in a career that helps you repay or forgive student loans such as teaching, public service positions, and government organizations. This even secures your future with fair payments.
3. Healthy Relationships
Create and maintain healthy relationships. This will help you to connect socially which is the ultimate solution for support. A seventy-five years old study conducted by Harvard University results how being socially connected results longevity in human beings.
4. Exercise Regularly
Create a meditative practice that fits you. Meditation is proven practice that generates positive energy in your physical self. These positive effects on psychological and physical have been repeatedly mentioned in number of studies.
Volunteering has always been positively correlated with lowering of stress, relaxed mood, lowered anxiety and better relationship. And these are just few of the positive perks in volunteering.
6. Get Perspective
Always have a perspective and try to focus on the bigger picture. You can take this debt as a way to have a better career options, lifestyle, and life-purpose you desire. If the debt is actually burdensome accept that it was necessary and helpful when you needed it.
7. Self Care
Take care of yourself, have healthy sleep schedule, you can do yoga regularly every morning, and be careful of your nutrition balance. Each of these has been proven to create a huge positive impact on psychological and physical characteristics.
So, now that you know about the process by which millenials can decrease the stress. It’s better to take a walk in the morning, be healthy and have a positive approach towards life