Helping News JuLy, 2011 Issue 36
Women, Men, and Financial Stress: Key Trends
Financial stress has been identified as a leading cause of unhealthy behaviors like smoking, weight gain, and alcohol and drug abuse, as well as the subject of considerable concern in the American workplace. In fact, an estimated 60% of illness is caused by financial stress, according to a study by Financial Finesse Reports. Although the report shows some signs of curtailment in the general population, women are reported to be three times as likely as men to face "overwhelming financial" stress.
Responding to a workplace questionnaire in the first quarter of this year, a nationally representative sample of 1,000 respondents offered the following information:
9% of women reported "overwhelming
financial stress," compared with 3% of men.
65% of employees stated that they had "some"
financial stress, 21% reported their stress
level to be "high" or "overwhelming," and 14%
denied feeling any stress.
Middle income employees are under more
financial stress than low or high income
Married employees had lower levels of
financial stress than single employees.
Employees age 30-44 are most vulnerable
to higher levels of financial stress.
17% of households with no children reported "no" stress, compared to 10% of households with children.
For both genders, anxiety and worries about money have lessened since 2009. That year, Financial Finesse found 97% of people surveyed said they experienced some stress over money matters, compared with 86% in the current study.
More information coming...