It’s All About Money.
The American Psychological Association’s 2014 Stress in America survey has found that parents, young adults, and those living in lower-income households are coping with higher levels of stress than Americans overall. And what is the biggest cause of stress that is stressing out Americans the most? Money is the top source of stress in the country. Those living in lower-income households (making less than $50,000 per year) reported higher overall stress levels than those living in higher-income households. The good news is average stress levels are down – coming in at 4.9 on a 10-point scale as opposed to 6.2 in 2007.
A stressful reality Americans live with:
- 72% of adults stress about money some of the time while 22 % experience extreme stress.
- 26% of adults stress about money most or all of the time.
- Money stresses out 77% Americans parents, 75% millennials and 76% Gen Xers.
- Money-related stress includes paying for unexpected expenses, essentials and saving for retirement.
- 32% of adults’ finances or lack of money prevent them from living a healthy lifestyle.
- 12% of Americans skipped going to the doctor in the past year when they needed health care because of financial concerns.
Shrinking job opportunities, sluggish salary, staggering debt, heightened retirement age, and a shaky future for Medicare and Social Security are the reasons attributed for the rise in stress levels.
While stress levels are down, Americans are still “living with stress beyond their capacity to cope” http://t.co/AQq9qNQpz9 #stressapa
— Norman Anderson, PhD (@APA_CEO) February 4, 2015
Emotional support plays a large role in helping people manage their stress http://t.co/AQq9qNQpz9 #stressapa pic.twitter.com/J3aZ8AP1qE
— Norman Anderson, PhD (@APA_CEO) February 4, 2015
The stress gap in the US has widened along with the wealth gap. Lower-income Americans said their stress level was 5.2 out of 10, while higher-income Americans said their stress level was 4.7 out of 10. 32% of women felt stressed about money all or most of the time compared to 21% of men. Parents with children under 18 said their stress level was 5.7 out of 10.
And how do Americans cope with stress? By spending their time online. It is the most popular and preferred way to handle anxiety for 67% millennials, 58% lower-income households and 57% women.
Dr. Anderson (@APA_CEO) presents three tips to reduce our stress about money and finances. #stressAPA pic.twitter.com/AKUe8Y70xt
— APAHelpCenter (@APAHelpCenter) February 4, 2015
Source:
http://rt.com/usa/229347-stress-america-millennial-income/
