Darrell Castle & Associates | Memphis bankruptcy lawyerIf you could be in peak physical health and be debt-free at the same time, would you choose to do so?

Of course! But what if you had to choose between the two?

Credit Karma, a personal finance company, surveyed Americans and found that a giant percentage, 72% to be exact, would rather keep their current debt than lose 25 pounds.

Living in Memphis, the city listed in Newsweek magazine as the “Fattest City in America” in 2012, makes that factoid even more alarming. Using Credit Karma’s survey as a guide, if the large majority of the Memphis population cares so little about their weight, then how much less will they care about their current debt situation?

Americans owe more than $2.84 trillion in total debt. We can turn to these following facts from the aforementioned study to see where American’s priorities fall in regards to health and debt.

  • 74% of Americans have some kind of debt.
  • 43% of Americans agree that how much they weigh is more important than how much debt they have.
  • 64% of adults think about their physical appearance more than their debt.
  • 70% of Americans care more about their physical health than their financial health.

The purpose of this piece is not to endorse weight gain in an attempt to pave the way for financial freedom. Instead, this piece serves as an eye-opener into the mindset of the majority of Americans in regards to how physical conditions are viewed against financial conditions.

Bethy Hardeman, a spokeswoman for Credit Karma, offers the simple truth when she states, “Looks are fleeting, but they’re also really present in front of us. Debt unfortunately sticks around.”

The beauty of all of this is Americans really do not have to choose between the two! It is possible to be healthy, both physically and financially. However, people who are struggling financially may not have the means to lead a physically healthy lifestyle. Healthy foods can be expensive and gym memberships (typically) do not come free.

But when you are debt-free, healthy possibilities open up.

It is never too late to reassess your priorities that have gotten you where you are today in life, physically and financially. You may find those two areas have a direct effect on each other.

If you’re overwhelmed with debt you can’t pay, you might have a lot of questions and concerns. You need someone you can trust to be understanding and respectful, but who also knows the law inside and out.

Contact Darrell Castle & Associates online or call (901) 327-2100.