Money, Stress, and Your Health
How are you dealing with money stress?
We're all experiencing more stress in our everyday lives and money is one of the highest stress factors. According to research, a whopping 64% of American adults reported that they felt very stressed about money.
There are other things that also stress people out, 49% of us worry about the economy as a whole and 46% are being kept awake at night about personal health concerns. However, money is the big stress factor, and the sheer amount of folks spending time being stressed over something that could be remedied if they were more financially literate or had been able to save more in life is staggering.
What is stress anyway, and what does it do to us?
According to The American Institute of Stress, people can end up with physical symptoms, ranging from upset stomachs to fatigue and headaches. Stress also takes a severe emotional toll on us as humans and can lead to feelings of anger and irritability or worse a feeling like you might just burst into tears. According to The American Psychological Association, chronic stress may also cause disease. Stress can cause changes in your body itself or more likely, a person may start picking up bad habits to deal with emotional strain, such as overeating, smoking, or any number of bad decisions.
If you do get ill, then stress can mean it is harder for you to recover, and if that results in more money stress over medical bills, your health may get even worse.
When you are stressed, it puts more strain on your relationships with people. Research showed that 41% of American adults who are either married or are living with their partner lost their patience, got angry, or yelled at their significant other due to money stress in the month the survey was done. When it comes to work, the stats are not great either. 18% said they snapped or were short with a coworker due to stress.
Making sure that you have your finances in a stable situation could be a key to less stress and a better, healthier outlook. Getting your finances under control, and setting money aside for retirement or even just setting aside savings, could make a huge difference to your quality of life.
Less money stress means happier, healthier people.
IMPORTANT DISCLOSURES
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.
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David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC