More Americans Losing Sleep Over Money

By Brent Meyer — SafeMoney.com Founder & Editor Reviewed by Licensed Financial Professionals  |  SafeMoney.com — Trusted Since 2011  |  Updated Regularly Quick Answer: Discover why more Americans are stressed about money today. Learn how safe money alternatives can enhance your financial security. Explore now! Note: This is the fourth part of a month-long series on financial awareness in the U.S., and how investors are planning – or not preparing – for retirement. Here are some important takeaways that are keeping Americans from financial security and peace of mind. For the first time in a long while, Americans are feeling more stressed than ever . If surveys are any indicator, money concerns are a big part of it. In fact, more Americans are losing sleep over money issues than before the Great Recession. According to CreditCards.com, 65% of Americans report having insomnia over money issues – a 9-point jump from 56% in 2007. And what accounts for these new, high levels of stress? Here’s a quick look at the sleep killers for Americans in 2017. Top Financial Stressors CreditCards.com reports the following as the top factors keeping Americans up at night: 38% of Americans worry about healthcare or insurance bills, the top concern 37% fret over saving enough for retirement 34% lose sleep over anxiety about educational expenses 26% don’t sleep due to worrying about mortgage or rent bills 22% are concerned about credit card debt Source: MarketWatch.com, “America’s insomnia problem is worse than before the Great Recession,” Kari Paul, CreditCards.com . These findings mirror findings from other surveys. In February 2017, a study by Merrill Lynch and Age Wave on retirement savings found similar concerns . In that survey, Americans expressed as their top three financial concerns in retirement: Costly health issue affecting themselves or a loved one (49%) The impact of inflation on day-to-day living (46%) Not having enough money to do they would like (44%) Other concerns including outliving life savings, having to live on a fixed income, rising taxes, not being able to find work if needed, and earning low yields from the stock market. And with other financial stressors on the rise, it’s no wonder Americans are feeling the heat. For instance, U.S. credit card debt topped the $1 trillion mark in February 2017 , according to Federal Reserve consumer data. Financial Illiteracy, a Crippling Factor for American Wellbeing Jim Chilto