- A new survey finds that 87% of people say they are stressed about their current finances, despite being employed full time or having a spouse who’s employed full time.
- Household bills and lack of funds to cover unexpected expenses are the biggest stressors
- Only 59% of people say they have at least $2,000 in emergency savings, with 19% of people saying they have no money at all in savings
It’s no secret that a lot of Americans are dealing with stress, and it seems one of the biggest things stressing people out is money.
A new survey finds that 87% of people say they are stressed about their current finances, despite being employed full time or having a spouse who’s employed full time. So, what are the biggest things causing this financial stress? Well, they include:
- Household bills – 47%
- Lack of funds to cover unexpected expenses - 43%
- Retirement planning – 37%
- Healthcare expenses 34%
- High credit balance – 30%
- Accumulating credit card debt – 29%
- Lifestyle changes - 25%
- Education – 21%
Unexpected expenses are something that occurs to a lot of people, so it makes sense that it’s a big stressor. The survey finds that 74% of full-time employees have experienced an unexpected expense in the last 12 months, with many not having enough money in savings to cover it.
- In fact, while it’s recommended that people keep $2,000 in an emergency savings account, only 59% of people say they actually do so. The survey finds that while 19% of people say they have six months pay in their emergency savings, another 19% have less than one month’s pay, and another 19% have none at all.
Source: Yahoo Finance