42% of Americans say money has a negative impact on their mental health
A host of financial concerns have taken a toll on Americans’ wallets and their mental health, from high inflation and whiplashing markets to general economic uncertainty.
Some 42% of U.S. adults said that money has a negative impact on their mental health, according to a survey from Bankrate. The study included nearly 2,500 American adults and took place between April 6 and 8.
Of those who said money has affected their mental health, most cited feeling stressed, anxious and overwhelmed. Nearly half said that looking at their bank account is a trigger, while others noted that paying a bill, making a purchase or having to talk about money makes them anxious.
“When individuals suffer money challenges or they’re working through money issues, there’s tremendous potential for stress,” said Mark Hamrick, senior economic analyst at Bankrate. The study also found that 28% of those who said money has a negative impact on their mental health worry about it on a daily basis.
Here’s what financial experts say can help.
