According to a recent telephone survey conducted by Harris Interactive, nearly half of the American population is highly stressed about their financial situation, and this stress is spreading to other areas of their lives. Nearly half of those stressed aren’t sleeping well and find themselves becoming impatient with friends, and 31% are eating more junk food or gaining weight.
The startling result of the survey draws a correlation between money and wellbeing—not only can financial stress cause weight gain, poor sleep, and strained relationships with loved ones, but these negative personal consequences may even create a higher level of money-related stress.”
“This can lead to a double whammy, with ensuing physical and emotional stress potentially leading to higher long-term costs,” says CPA Ernie Almonte.
But how can you get out of this vicious cycle?
A significant cause of money-related stress is a lack of understanding of one’s personal financial situation—navigating the often complex world of taxes, retirement, loans, and educational expenses can be a confusing process, and this confusion leads to frustration and anxiety. To help advance public knowledge about financial matters, The American Institute of CPAs (AICPA) has created a comprehensive website called 360 degrees, which offers interactive topics related to money throughout all stages of life. Free advice from CPAs, calculators, quizzes, and articles can help you boost your financial savvy—and possibly help you get a good night’s sleep.