Personal finances top stress-related concern

A recent survey from the American Psychological Association shows that worries about personal finances and other money-related issues continue to be a major source of stress for Americans.

According to its Stress in America survey, the APA showed that 71 percent of respondents said that money is a substantial source of stress in their lives. Other things involving managing money that induce a lot of stress include work-related concerns and worries about the economy. Those came in at 69 and 63 percent of respondents, respectively.

That stress may only be compounded by the fact the holiday season is coming up, which could lead to further debt problems for some Americans.

“According to our survey three quarters of adults in this country already report moderate to high levels of stress,” said Katherine Nordal, Ph.D., the APA’s executive director for professional practice. “The holiday season can bring with it additional emotional and financial stressors that can negatively impact both physical and mental health.”

The APA does recommend a number of ways to make the holidays less stressful. Those include making sure to take time for oneself and remembering that this time of year is more about relationships that buying things.

However, if money-related stress is making it difficult, consumers could consider finding debt help through a credit counseling service. Such services can help consumers establish methods for dealing with debt, including budgeting and a debt management plan.

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April Lewis-Parks
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