Are you less stressed this year? According to a recent poll done by the Associated Press, American’s are less stressed this year about finances and their mounting debt then they were last year at this time. Consumers are still in debt up to their eyeballs, but are finding ways to cope with it better.
Are you less stressed this year? According to a recent poll done by the Associated Press, American’s are less stressed this year about finances and their mounting debt then they were last year at this time. Consumers are still in debt up to their eyeballs, but are finding ways to cope with it better.
During 2008, consumers’ stress levels were causing health related problems at massive numbers. Everything from migraines and backaches to ulcers and heart attacks were on the rise simply due to the stress of the economy.
Debt-related stress is 12 percent lower this year than in 2008, according to the poll. That’s an amazing thing, when it comes to the health and well-being of your family. It’s proof that there are more important things in this life than money and riches.
So, what are people doing to this year that is different than last year? While the AP poll didn’t question responders about how their spending their free time, I believe that families are reconnecting and relationships are blossoming.
Sure, it’s ridiculously hard to hold a relationship together when the stress of debt is unbearable, but perhaps it’s bringing people together. Families are probably playing more board games on Friday nights, watching more movies at home together, and having more picnics at the park. They’re doing the things that do not involve money, and will not raise their debt stress levels.
"People are doing things that make them feel they are taking charge of their lives again," said Patricia Drentea, associate professor of sociology at the University of Alabama at Birmingham, who studies debt and stress.
While the unemployment rate is at the highest it’s been in 26 years, and job loss has been over 6.5 million jobs since the start of the recession at the end of 2007, people are beginning to see the silver lining.
In a new article posted by the Washington Times, more and more families are going out less and spending more time together.
"You're not sitting in a room staring at a screen with 150 channels to watch," said Mrs. Walburn, 40, a stay-at-home mother of three in Spotsylvania, Va. Instead, the family plays Scrabble and bakes. "When you simplify, it gives you an opportunity to do more things together."
Debt stress is a funny thing, and can go one of two ways. Either you understand that it’s only money and figure out a way to reduce your budget and spending habits by spending more time with family, or you let the stress overtake you.
When I was a kid, my family had no money and we spent nights reading books, playing board games and watching rented movies together. The debt stress probably got to my parents, but I had no idea. Over time, my parents became more financially stable and the amount of time that we spent together as a family diminished.
It’s good to know that during these rough economic times, families are learning the importance of being together, and the stress of debt is actually doing some good for our society.
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