Financial stress linked to panic attacks and suicidal thoughts, costing $500 billion per year
Financial stress affects 48 percent of the US workforce, according to a recent survey of more than 10,000 Americans by Salary Finance, the leading global provider of financial education and salary-linked savings and loans for employees. This stress is particularly concentrated in the West Coast, Appalachia and the Great Plains, where more than half of American workers experience financial stress.
According to the survey, money worries have a devastating impact on Americans’ mental health; employees under financial stress are over three times more likely to suffer from anxiety and panic attacks and four times more likely to suffer from depression and suicidal thoughts. Women particularly suffer; 56 percent of working women are stressed about their finances and 63 percent feel they do not earn enough to save.