Budgeting, debt management and credit-related issues are among the most common challenges that cause financial stress.  But even longer-term planning goals, like saving for college or retirement, can create stress because of a lack of information or simply not having a plan.  In a recent study, 67% of MSA members said they lack three months of savings to cover living expenses, and nearly 4 in every 10 mentioned that inflation greatly impacts their ability to pay their monthly bills.1

Finances can also cause stress in relationships. While making long-term plans can help a couple look forward to a future together, it can also be stressful if it raises conflict. According to a recent study by the American Psychological Association, over half of the adults who reported money as a significant source of stress (55%) said money is a cause of fights or tension in their family.2

The American Psychological Association also reported that over a quarter of adults said: “that most days they are so stressed they can’t function.”1 In addition to addressing financial stressors, support for mental health is also important.

As you consider ways to focus on or improve mental health, consider the financial side of things. Tap into free financial resources to gain education about your financial situation, reduce stress and improve your financial wellbeing.

1 Pulse Survey report. MSA. November 2022, 1029 MSA members.

2 “Stress in America 2022: Concerned for the Future, Beset by Inflation.” American Psychological Association, American Psychological Association, Oct. 2022, https://www.apa.org/news/press/releases/stress/2022/concerned-future-inflation.

3 My Secure Advantage, Inc., January 2023. Based on MSA member self-reported data, when member is working with a coach on this specific issue, from 1/1/21 – 12/31/22.