More than half of Americans lose sleep over their finances

More than half of Americans fall asleep – one of the major concerns with health care, spending, and saving for retirement

  • A bankrate survey found that more than half of all Americans cited money concerns as the cause of their insomnia
  • Generation X, 24 – 54 years old, made up the highest percentage of those who slept 64 percent, followed by millennials and baby boomers.
  • The three main reasons for the problems were daily expenses, pension plans and health care
  • Survey analyst Ted Rossman suggested splitting money problems into & # 39; small, manageable chunks & # 39; to reduce stress
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A study has shown that more than 56% of adult Americans lose their sleep due to financial problems.

Daily expenses, saving for retirement and health care were the top three causes of insomnia, according to a study by Bankrate.com.

Other issues mentioned were paying credit card debt, mortgage or rent repayments, education and the last was stock market volatility.

It turned out that Generation X, people between the ages of 24 and 54, represented no less than 64 percent of those who lost sleep – the highest percentage.

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They were briefly followed by millennials, aged 23 – 38, with 58 percent, and then baby boomers, aged 55 – 73, with 54 percent.

From data provided by Bankrate in the last four years, Gen X has had the least chance of & # 39; financial security & # 39; and felt & # 39; more stressed & # 39; about money compared to other generations.

It also revealed that while 63 percent of those who earn less than $ 30,000 a year are worried by their finances, those who earn $ 80,000 also earn fear of sharing money, with an impact of 53%.

The Bankrate survey shows that daily spending is the main cause of insomnia related to finances

The Bankrate survey shows that daily spending is the main cause of insomnia related to finances

Generation X is most affected by financial worries and has been according to Bankrate according to the last four years

Generation X is most affected by financial worries and has been according to Bankrate according to the last four years

Generation X is most affected by financial worries and has been according to Bankrate according to the last four years

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Dr. Gail Saltz, a clinical associate professor of psychiatry, told the survey: & Sleep has a major impact on mental and physical health, and mental health also affects sleep.

Strategies to reduce financial worries

Collect money by selling unused household items, clothing, toys, video games and more

Reducing expenses such as: taking public transportation, planning a stay, reducing subscription services and delivering food

Take an extra job to supplement your income

Source: Ted Rossman, survey analyst at Bankrate

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& # 39; Not getting enough sleep can affect mood, increase depression, and increase anxiety. & # 39;

Survey analyst Ted Rossman suggested dividing money interests into & # 39; small, manageable portions & # 39; to be the best approach to dealing with stress and insomnia.

& # 39; Coming up with a plan and starting to implement it – piece by piece – is the best way to get things done, Rossman said.

& # 39; Just getting started should help you feel better and calm your racing spirit. That's right, whether you're worried about health, money, relationships, work or whatever. & # 39;

Other suggestions were: selling assets, reducing expenses or taking on an extra job.

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Another recent survey found that 34 percent of Americans are concerned about making ends meet & # 39; and 30 percent of the regular living expenses financed with their second job.

More than 51% of Americans turned out to be pessimistic about their ability to pay off debts, as credit card rates reached record levels.

Rossman advised to interest you and calculate how much you have to pay each month to get rid of your debt within that timeframe.

The online survey found that 78 percent of adults in the US are awake at night because of their finances, personal relationships, or other concerns – with a nine percent increase from last year.

Bankrate interviewed 2500 adults between 29 and 31 May.

Another question asked concluded that Americans & # 39; somewhat pessimistic & # 39; were about paying their credit card debt
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Another question asked concluded that Americans & # 39; somewhat pessimistic & # 39; were about paying their credit card debt

Another question asked concluded that Americans & # 39; somewhat pessimistic & # 39; were about paying their credit card debt

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