Thursday, 5 February 2015

Money Tops Americans' List of Stressors


Women, parents and younger adults most troubled, survey finds

WebMD News from HealthDay

By Dennis Thompson

HealthDay Reporter

WEDNESDAY, Feb. 4, 2015 (HealthDay News) -- Money continues to be the leading cause of stress for Americans, a new survey finds.

Overall, stress in the United States is at a seven-year low, and average stress levels are declining, the American Psychological Association poll found.

But money worries continue to nag at the American psyche, despite the ongoing economic recovery, the association says in its report released Feb. 4, entitled Stress in America: Paying With Our Health.

Financial worries served as a significant source of stress for 64 percent of adults in 2014, ranking higher than three other major sources of stress: work (60 percent), family responsibilities (47 percent), and health concerns (46 percent).

Nearly three out of four adults reported feeling stressed about money at least some of the time, and about one in four adults said they experienced extreme stress over money during the past month, according to the report.

"Money is a very important component of establishing a secure life," said Norman Anderson, CEO and executive vice president of the American Psychological Association. "When people are financially challenged, it makes sense that their stress level would go up."

The good news is that, on average, Americans' stress levels are trending downward. The average reported stress level is 4.9 on a 10-point scale, down from 6.2 in 2007, the report found.

Despite this, the association found that Americans are living with stress levels higher than what psychologists believe to be healthy, and 22 percent say that they are not doing enough to manage their stress.

Financial stress particularly affects women, parents and younger adults, the survey found.

For instance, three out of four parents and adults younger than 50 said money is a somewhat or very significant source of stress.

Women are more likely than men to report money as a significant source of stress, 68 percent versus 61 percent.

A gap also appears to be emerging in stress levels between people living in lower-income and higher-income households, the report found.

In 2007, there was no difference in reported average stress levels between those who earned more and those who earned less than $50,000.

source : Money Tops Americans' List of Stressors

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