“42% of Americans say money negatively impacts their mental health…”
October 11, 2022
“…42% of U.S adults say money is negatively impacting their mental health, according to a recent survey from Bankrate and Psych Central.
The survey polled 2,457 adults about how finances affect their mental state. Feeling stressed is the top response to finances, according to 70% of survey respondents.
Other emotions people associate with money include worry, anxiety, feeling overwhelmed and insecurity. These are the money-related activities that triggered negative feelings, from most to least common:
- Looking at their bank accounts (49%)
- Paying a bill (41%)
- Making a purchase (34%)
- Having to discuss money (32%)
- Getting paid (21%)
- Looking at their investment accounts (16%)
- Looking at social media (11%)
…Of all age groups, millennials, aged 26 to 41 years old, experienced the most financial anxiety, at 48%…”
None of these people would have to worry about this if they lived below their means. Also way to many people never worry about money or their debt until they have a lot of debt. At that point its going to take between 2 to 5 years of serious overtime and cutting expenses to get out of debt. Do not fall into this trap. Be proactive. Work hard or do whatever it takes to make money now. Cut back now not later. Then when you’re old you can relax.