Money is the root of all problems. No, this is not the same from the Bible. In the Bible, Paul was telling his young acolyte Timothy, love of money is the root of all evil.
It’s not only money that stresses Americans now days, there’s job, family and of course, health. However, lack of money is number one stress factor.
There’s a direct connection between the amount of money you own and how much you stressed are in life. The more money you have, the less stressed you are and vice versa.
According to the study, ‘But it seems that parents, younger generations and those living in lower-income households (making less than $50,000 per year) have a different experience — they report higher levels of stress than Americans overall, especially when it comes to money, and those who have particularly high stress about money are more likely to say they engage in unhealthy behaviors to manage their stress.
‘Women, who consistently report high levels of overall stress and unhealthy behaviors to manage stress, also report high levels of stress about money. What’s more, the gap between the percentage of those who appear to be doing well when it comes to managing their stress and the percentage of those who are not is growing.’
Seventy two percent of American adults said money sometimes stressed them out and twenty six percent of adults are likewise stressed out with money problems always or all the time.
What’s more, ‘Nearly 1 in 5 Americans say that they have either considered skipping or skipped going to the doctor in the past year when they needed health care because of financial concerns,’ the report said.
Low-income adults with family, approximately 36 percent of them, research says, are the ones financially stressed most of the time, while only around eighteen percent of adults with families that are in the higher income bracket have that same kind of problem.
Out of 10 possible points, parents, millennial and Gen Xers also have high rates of overall stress, with levels of 5.7, 5.5 and 5.4, respectively.
When it came to money, parents had a 5.8 stress level, millennials had 5.4, and Gen Xers had 5.5.
Singles, however, had a 4.4 stress level over financial problems. Overall Americans had a 4.7 money stress level.
Here’s the break down over financial problems by gender: women had a 5.0 level and men had 4.3. Thirty percent of women said money stresses them out all or most the time. 21 percent of men said the same.
It is important to find emotional support when there’s financial problems.
It noted ‘One in five Americans (21 percent) say they have nobody to go to for emotional support.’ A similar percentage of Americans (18 percent) say money is a taboo subject in their family and more than one-third (36 percent) say that talking about money makes them uncomfortable.’