Source: Fortune
Summary
A recent study by Edward Jones and Gallup found that 83% of Americans experience financial stress, strain, or uncertainty, despite 51% of those stressed individuals not being in crisis. Financial security is often an emotional state rather than a numerical one, with many people carrying low-grade anxiety despite doing the right things financially. Experts attribute this phenomenon to factors such as social media comparisons, low self-worth, and past financial experiences. Practical steps such as budgeting, saving, and reducing debt can help address financial insecurity.
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The numbers tell one story.
Financial stress affects 216 million Americans, with 51% of those individuals not in crisis but still feeling uncertain. Edward Jones managing partner Penny Pennington notes that financial stress isn’t limited to people in crisis, but also affects those who appear stable but don’t feel secure or fulfilled. Financial therapist Lindsay Bryan-Podvin sees a pattern of internalized financial stress, often accompanied by thoughts of “shoulds” and shame. The study highlights the importance of addressing financial anxiety, which can have drawbacks such as controlling one’s life and affecting relationships and mental and physical health.
Financial anxiety is an emotion before it’s ever a number.
Author: Evan Null
