The American Psychological Association (APA) just published the 2014 edition of its annual Stress in America survey (click here for the complete report). APA has been conducting this national survey since 2007. Here are some key findings from this year’s edition:
• Just about 3 out of 4 Americans worry about money at least some of the time.
• Just about one out of four adults report that they worry about money to the extreme, with that same approximate number reporting that they worry about finances on a daily basis.
• Many Americans report significant side effects from not having enough money. For instance, about one third indicate that money limitations interfere with living a healthy lifestyle; moreover, 12% report that such limitations caused them from seeking out needed healthcare.
• In 2007 household income did not appear to differentiate the stress that people reported. However, this year those living in households making less than 50K reported substantively higher levels of stress. These individuals also report higher levels of not being able to live a healthy lifestyle (i.e., 45%).
• A little over three out of four parents report higher levels of money-based stress; parents also report higher levels of not feeling financially secure. (In my practice I hear a lot about concerns regarding saving enough for college.) Parents also reported higher levels of not doing enough to manage their stress as well as engaging in more unhealthy stress management behaviors (e.g., drinking alcohol).
• Interestingly, many adults report that discussing money-based stress in their family is taboo (18%) or makes them feel uncomfortable (36%).
• Women report higher levels financial-based than men (e.g., 30% of women report worrying about money all or most of the time compared to 21% of men). Women also reported more negative consequences from stress than did men (e.g., a greater sense of loneliness or isolation).
Here are some other key findings from the survey:
• Those who report having emotional support report lower levels of stress and better outcomes than those who do not. Moreover, the sense of not having emotional support is higher among those who make less money (27% compared to 17% in higher income households). One out of four parents report feeling this vulnerability as well.
• The degree of emotional support also seems to be affiliated with how sad folks feel and with the perception that their stress has increased over the past year.
• Almost half of Americans report that they are not doing enough to manage their stress (i.e., 42%).
• After financial concerns, the stresses most bothering Americans are work (60%), the economy (49%), family responsibilities (47%) and health concerns (46%).
• The top consequences respondents indicated experiencing from stress are feeling irritable or angry (37%), feeling anxious or nervous (35%), having lower motivation (34%), feeling tired (32%), and feeling overwhelmed and/or depressed (both at 32%). Moreover, 41% of those who are married or living with a partner reported that they lost patience or yelled at their partner in the past month secondary to stress.
I bet those of you reading this blog can relate to these findings. Please tune into next week’s blog entry when I’ll describe some of the most time-efficient and effective ways of managing stress.