By Astrid Goh
WASHINGTON — Money, work, family responsibilities and health top the list of stressors for Americans, experts said Wednesday in a webinar hosted by the American Psychological Association.
The associationannual tress in America survey, which was conducted August among 3,068 American residents aged 18 and olderfound that stress levels have been steadily declining since 2007 — but some groups are bucking the trend.
“Parents, younger generations, women and lower-income households are reporting higher levels of stress than Americans overall, especially when it comes to money,” Norman Anderson, CEO of the association said.
Those in lower-income households with extreme money stress are significantly more likely to report unhealthy behaviors compared to those with the same income level under low money stress, as well as the average American. Source: APA
Women experience higher levels of stress about money than men, and are also percent more likely to their stress “all or most of the time”, the report said.
Millennialsare more likely than other generations to have felt lonely or isolated due to stress, the survey showed.
Katherine Nordal, executive director for professional practice at the association children should be active participants in conversations about financial matters from a young age.
“Children learn what they live so I think there are a lot of opportunities to teach them the value of money, how to manage money responsibly,” she said. “reticent to talk to their partners about financial responsibility and how to manage money in the household.”
While many believe they would be happier if they could afford to purchase more material items, research shows an increase in emotional wellbeing when people spend money on experiences — like trips and events — instead, Anderson said.
Lower stress levels can also be achieved by seeking emotional support. 26 percent of those with support reportstress in the past year.
Anderson emphasized on the need for a good support network.
“People who have… even one person they can confide in about challenges in their lives are healthier. Social and emotional support is a very important predictor of health outcomes,” he said.