Money troubles got ya down? You’re not alone. 2 in 3 Say Personal Finances Are Their Biggest Source of Stress
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Money worries have become a pervasive source of stress, and depression for millions of Americans. From rising costs of living to crushing debt, stagnant wages, and inadequate savings, the strain of financial insecurity is taking both a psychological and physiological toll.
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The U.S. Department of Agriculture noted that food-at-home prices increased by over 11% in 2022, with some categories continuing to climb. According to the USDA report, egg prices are projected to rise by an additional 4.8% this year, while beef prices are expected to increase by more than 3%.
MarketWatch surveyed 2,000 Americans about the impact of their finances on their mental health.
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41% of Americans Say Finances Have Destroyed Their Mental Health
- Nearly half of Americans (47%) say 2024 has been the most stressful year of their lives financially.
- 88% of Americans feel some level of financial stress, and 65% say finances are their biggest source of stress.
- About 92% of respondents reported negative physical effects due to financial stress.
- Over half report losing sleep (56%) as a result of financial stress, with others reporting headaches (45%) and fluctuations in weight (38%)
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Which money related issues are causing the most stress?
- High prices for essential goods 57%
- Lack of savings 47%
- Lack of income 46%
- Debt 39%
- The performance of the U.S. economy 39%
- Housing costs 36%
- High interest rates 33%
- Uncertainty about retirement 27%
You can check out the full study here.
