The American Psychological Association
published a study called “Paying with Our Health”.
I found it to be especially informative; it also raised my awareness about the impact of financial stress in the lives of women. It further increased my concern for women and money as I read about the relationship between financial stress and physical health.
Here are some excerpts from the article:
Year after year, women’s experiences with stress continue to be troubling. They consistently report higher stress levels than men do, and they appear to have a hard time coping.1 These patterns also emerge when it comes to their relationship with money and finances.
- Women report higher levels of stress about money than men (5.0 vs. 4.3 on a 10-point scale) and are more likely than men to say they feel stress about money all or most of the time (30 percent vs. 21 percent).
- Women who say their stress about money is high (8, 9 or 10 on a 10-point scale) are more likely than women who say they have low stress about money (1, 2 or 3 on a 10-point scale) than to say they engage in sedentary or unhealthy behaviors to manage their stress, such as watching television/movies for more than two hours per day (55 percent vs. 38 percent), surfing the Internet (57 percent vs. 34 percent), napping/sleeping (41 percent vs. 23 percent), eating (40 percent vs. 19 percent), drinking alcohol (21 percent vs. 9 percent) or smoking (19 percent vs. 7 percent).
- Women who say their stress about money is high are significantly more likely than women who say they have low stress about money to rate their health as fair or poor (34 percent vs. 13 percent).
1: Men n=1204; Women n=1864.
Does any of this fit for you or someone you care about?
If so, please know that the Resonate team considers it both our privilege and responsibility to hold the conversation about “Money and Stress”. We have prepared multiple resources designed to create alternatives and fresh ideas designed to reduce financial stress.
We are comfortable engaging in these emotional conversations and recognize the importance of them.
We welcome hearing your concerns about money and are committed to sharing stress-relieving ideas designed especially for you.
Please contact us for a complimentary conversation.
Barbara A. Culver
CFP®, ChFC®, CLU, AEP®