Money is the biggest stressor for adults aged 18 to 57, as per the « Stress in America » survey of 2022. The survey highlights that people are anxious about their debt, savings, and money management, which can lead to mental health issues such as anxiety and depression. To alleviate financial stress, one can create a budget, cut down on unnecessary expenses, save money regularly, seek advice from a financial advisor, and concentrate on what they can control. Managing money stress is crucial for overall well-being.
Is Money a Big Stress?
Money as a Stressor
Money is one of the most common stressors that people face in their lives. According to the 2022 “Stress in America” survey, money is the number one stressor for adults aged 18 to 57. The survey shows that people are worried about their debt, savings, and general money management. The survey also reveals that people are concerned about their financial future, which adds to their stress.
Money and Mental Health
Money problems can take a toll on mental health. The stress of financial problems can lead to anxiety, depression, and other mental health issues. In fact, the “Stress in America” survey shows that people who are stressed about money are more likely to experience symptoms of anxiety and depression. This is why it’s important to take care of your financial health, just like you take care of your physical health.
Managing Money Stress
Managing money stress can be challenging, but it’s not impossible. Here are some tips to help you manage your money stress:
- Create a budget and stick to it.
- Reduce unnecessary expenses.
- Save money regularly.
- Get help from a financial advisor.
- Focus on what you can control.
In conclusion, money is a big stressor for many people. It can lead to mental health issues and affect overall well-being. However, by managing money stress and taking control of your financial health, you can reduce stress and improve your quality of life. Remember, it’s never too late to start taking care of your finances.
References for « Is Money a Big Stress? »
- American Psychological Association. (2014). Stress in America: Paying with our health. Retrieved from https://www.apa.org/news/press/releases/stress/2014/stress-report.pdf
- Mittal, M., & Dhar, R. L. (2019). Financial stress and its association with life satisfaction and emotional well-being: Evidence from Indian urban households. Journal of Family and Economic Issues, 40(2), 191-204. doi: 10.1007/s10834-018-09623-2
- World Health Organization. (2019). Burn-out an « occupational phenomenon »: International Classification of Diseases. Retrieved from https://www.who.int/mental_health/evidence/burn-out/en/
- Forbes Finance Council. (2020, January 9). The financial stress epidemic: Why so many Americans are feeling the pressure. Forbes. Retrieved from https://www.forbes.com/sites/forbesfinancecouncil/2020/01/09/the-financial-stress-epidemic-why-so-many-americans-are-feeling-the-pressure/?sh=71b50d9f43d9
- Pryce-Jones, C. (2014). Money and stress: How to create a life of peace and purpose. New Harbinger Publications.
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