Friday 7th of January 2011
People suffering severe bouts of stress because of their dire financial situation may want to seek individual voluntary arrangement (IVA) answers to help alleviate the anxiety.
This is because Ann McCracken, chair of the International Stress Management Association UK, has said the best way to counter the problem is for people to tackle their monetary problems and review their lifestyle.
The expert noted extreme stress often results in people becoming ill or unable to function, adding: "So what they may mean is they feel under a lot of pressure as their lifestyle is being threatened due to lack of funds."
Individuals deep in the red need to take a factual look at their expenditure and decide how to spend their income more wisely, such as ditching unnecessary extras like eating out, Ms McCracken stated.
Her comments come as research from the Stroke Association and Siemens revealed 15 per cent of UK adults admit to feeling extremely stressed at the beginning of 2011.
By Chris King
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- IVAs may help out the struggling self-employed
