Money Stress Impacts Mental Health for Americans, Especially Gen Z
A new study by Intuit Credit Karma reveals that money is the leading source of stress for 43% of Americans, surpassing concerns about the state of the world (18%) and work/career (12%). This financial stress significantly impacts mental health, with 61% of Americans, including 68% of Gen Z and 67% of Millennials, reporting a direct link between their financial situation and mental well-being. The pressure is particularly acute for younger adults, with 71% of Gen Z identifying money as a major stressor. The rising cost of living, insufficient savings, and difficulty keeping up with bills are cited as primary drivers of this stress. The study also found that nearly half of Gen Z (49%) admit to spending money to cope with stress or improve their mood, a higher percentage than the overall American population (34%). Avoidance is also common, with 40% of Gen Z and Millennials avoiding checking their finances due to anxiety.
