Money May Be Chief Cause Of Stress Among Americans

Money has been the top cause of stress for Americans, said an American Psychological Association survey since 2007. In a survey of 3,000 Americans conducted by Harris Poll for the APA, 72 percent of respondents said that they felt stressed about money during the past month. Another 26 percent said they feel stress about money most of the time. Households making less than $50,000 a year, women and millennials (people born between 1980 and 2000) reported higher levels of stress.

Some of the causes of financial stress include dealing with unexpected expenses, paying for essentials and saving for retirement. One of the impacts of financial stress is that people will go without medical care. Twelve per cent of the respondents said they didn’t go to a doctor in the past year when they needed to because of concerns about money. Other causes of stress included work, the economy, family responsibilities and health concerns. Stress can lead to feeling irritable or angry, anxious, fatigued or overwhelmed. Forty-one per cent of respondents said that they lost their patience or yelled at a spouse or partner in the past month because of stress.

Fifty-one per cent of the women surveyed said that they had laid awake at night in the past month due to stress. The survey respondents who had emotional support from friends and family reported lower stress levels. Eighteen per cent of respondents said they had grown up in families where they just don’t talk about money.

These people have no one to talk to when they are stressed about money. For these people, it is necessary that they seek someone outside of their family and friends circle to talk about their money-related stress. Members of the National Foundation for Credit Counseling offer low cost financial advice from nonprofit counselors and coaches.

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