What Women and Young People Have in Common: Money Stress!

Via LearnVest By Jennifer Liu

What keeps you up at night?

Maybe it’s thinking about that big presentation you have to give at work in the morning—or about how you still haven’t nailed down the details of your summer getaway yet.

But more likely, your daily stresses come down to one thing: your finances.

And if so, you’re in good company.

According to a new poll from the CFP Board, nearly 9 in 10 Americans are stressed about money. And two demos feel the weight of those worries even more: 89% of women and 91% of younger respondents (ages 18 to 44) agree that money is their biggest stress factor.

What’s more, a full quarter admit that they feel that anxiety all the time.

So what in particular is stressing us out so much? Far and away, debt (23%) and everyday expenses (21%) lead the pack of factors contributing to financial worries. And about 14% are mainly worried about health expenses, with another 13% concerned about their retirement.

Still, the survey also showed there is some hope when it comes to combating money stress: more than a quarter of respondents said that having a financial plan helps them rest easier, while 22% said their de-stressing strategy of choice is educating themselves more about money.

And others simply swear by some old-fashioned belt-tightening: 48% of Americans say cutting back spending is their main solution to easing stress.

“Almost everyone—at every stage of life—experiences financial stress,” Eleanor Blayney, CFP®, Consumer Advocate for CFP Board, said in a press release. “The resulting awareness should empower us to take control of our financial fate.”

RELATED: Stressed About Money? 6 Thinking Traps to Avoid

The post What Women and Young People Have in Common: Money Stress! appeared first on LearnVest.
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  • Cody Ciha

    I am a young person whom experiences stress because of my financial situation, and it’s good to know that I’m not alone. I would probably fall into that full quarter of people who stress all the time about their fiances but when I find myself falling into that percentage of people I normally can pull my head out of it. Basically I know that the more secure I am in my fiances, the more secure I will feel in life. I am in between jobs and I feel more financially vulnerable than ever. I quit my last job because the management royally stank. Luckily I’m waiting on results from an interview for a new job which is pretty exciting, but also causing some stress because of the “hurryupandwait” feeling. I guess tonight to ease my stress I’ll be one of the 22% of people that educate themselves about wiser money spending choices.