By Greg Neimeyer, Ph.D.
While the U.S. economy may have improved, money continues to be a top cause of stress for Americans, according to the most recent annual survey, Stress in America: Paying With Our Health, released by the American Psychological Association. ÔÇ£Regardless of the economic climate, money and finances have remained the top stressor since our survey began in 2007. Furthermore, this yearÔÇÖs survey shows that stress related to financial issues could have a significant impact on AmericansÔÇÖ health and well-being,ÔÇØ APA CEO and Executive Vice President Norman B. Anderson, PhD, said.
The survey, conducted by Harris Poll on behalf of the APA, polled 3,000 adults throughout the U.S. and found that 72 percent of Americans reported feeling stressed about money with twenty-two percent indicating that they experienced extreme stress about money during the past month. For the majority of Americans (64 percent), money is a somewhat or very significant source of stress, which was especially true for parents and younger adults (77 percent of parents, 75 percent of millennials).
Stress about money and finances appears to have a significant impact on many AmericansÔÇÖ lives. Some are putting their health care needs on hold because of financial concerns. Nearly one-quarter of Americans say that they have either skipped (12 percent) or considered skipping (9 percent) going to the doctor when they needed health care because of financial concerns. Stress about money also impacts relationships: Almost a third of adults with partners (31 percent) report that money is a major source of conflict in their relationship.
The good news is that, on average, AmericansÔÇÖ stress levels are trending downward, with the average stress levels down to 4.9 on a 10-point scale, compared to 6.2 when the survey began in 2007. Even still, ÔÇ£This yearÔÇÖs survey continues to reinforce the idea that we are living with a level of stress that we consider too high,ÔÇØ Anderson said. ÔÇ£Despite the good news that overall stress levels are down, it appears that the idea of living with stress higher than what we believe to be healthy and dealing with it in ineffective ways continues to be embedded in our culture. All Americans, and particularly those groups that are most affected by stress ÔÇö which include women, younger adults and those with lower incomes ÔÇö need to address this issue sooner than later in order to better their health and well-being.ÔÇØ