Financial stress is when money becomes a source of anxiety or worry. It is often caused by struggles in managing finances, unexpected expenses, or insufficient income. According to the American Psychological Association, money is a primary stressor for many Americans.
When financial stress occurs, it can impact both mental and physical health. It may lead to sleep disturbances, fatigue, and even depression. Here are some ways to handle financial stress:
- Create a budget to track expenses and income.
- Set financial goals to manage savings and spending.
- Seek financial advice to improve money management skills.
Addressing financial stress can result in improved mental well-being and less anxiety.