Families, Stress and Money
For years the American family has been the backbone of the country and the economy. Making sure that food was on the table and the family was safe has always been a priority, but how are families faring today? A survey by the American Psychological Association (APA) shows that money causes major stress between partners, and some of the statistics are quite shocking. Money is a significant source of stress for the majority of Americans but even more so for parents. Seventy-seven percent of parents said they were stressed about money.
Parents are also less likely than Americans overall to report being financially secure. It seems that parents are panicking about their finances, and it is no wonder with the change in the economy after the recession, raising family cannot be easy. Kids require investment. Both time and money are needed. For starters parents have to consider clothes, food, and healthcare, and that is before you enter the crazy world of schools and their fees. Private schools can command fees in excess of $40,000 annually. Of course, not everyone is sending their kids to private school, but as an example of the type of expenses one could expect, it certainly opens the eyes.
Shocking statistics show that 70% of married couples argue about money, and 80% of couples with children younger than 18 argue about money. As if fighting about cash were not bad enough, Americans seem to be not only panicking about it and taking their frustrations out on their significant other, but also drifting apart physically as well. Sixty percent of husbands and wives said that they check their bank accounts more than they have sex. Not a particularly healthy state to be in as a couple.
Money should not be something that divides a family but rather brings them together. If American families can learn to plan together and talk openly and honestly about their financial situations and their goals, then they will be one step closer to long-term security and happiness.
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