Nearly 3 in 4 New Yorkers say they're maxed out on stress. What is causing so many adults to spiral?

New In-Depth Survey

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Americans as a whole are feeling more stressed than before. With it being an election year amid all the turmoil happening overseas. it's understandable why more and more people are finding it difficult to relax.

Only adding to these growing woes is the skyrocketing cost of basic necessities like groceries and gas.

But what happens when Americans can't take it anymore? According to a new survey from CardRates.com, we're about to find out real soon.

They asked 3,000 Americans who are currently managing ongoing financial commitments, such as a car lease or renting an office building. These individuals were asked in-depth questions about their stress levels, mental health, and how much longer they think they can operate under their current situation.

New York Reaching "Tipping Point" Faster Than Other States

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When it came to polling New York residents, CardRates.com said the average of those saying they're at the end of their rope came out to every 3 out of 4 respondents. Taking that, the survey estimates that about 8,857,448 residents of New York's entire population is maxed out on stress.

That equates to a whopping 73 percent of New York's population, which is above the national average of 65 percent with unmanageable stress levels. The survey said these people are reaching a mental state where the burden of their financial responsibilities will surpass their ability to effectively cope and lead to severe psychological distress.

Possible Outcomes if Stress Levels Increase

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CardRates' survey found that the first thing to suffer after a person goes beyond their tipping point are their personal relationships. The survey found those would become "collateral damage to financial unease."

Nearly 60 percent of all respondents agree that their romantic relationships would be negatively affected by emotional distress, followed by a two-thirds majority saying their friends and family would also suffer.

Ashley Fricker, Senior Editor, says this survey is raising a dire alarm about the average American's mental health:

As our latest survey reveals, this 'stress tipping point' represents more than just a fiscal benchmark; it's a critical indicator of societal well-being. Our findings call for a collective effort to address and mitigate the factors contributing to this widespread concern.

The worry is more Americans will start to spiral as inflation continues to skyrocket, which further cuts into one's bottom line.

Ways to Reduce Money Managing Stress

CardRates.com issued some tips that can help ease the minds of those worrying too much about their financial situation.

  • First and foremost, gaining financial literacy is crucial; understanding the basics of budgeting, saving, and investing empowers individuals to make informed decisions.

  • Open communication about financial struggles, both with family and a financial advisor, can alleviate the burden and pave the way for practical solutions.

  • Setting realistic financial goals and creating a clear plan to achieve them can provide a sense of control and direction.

  • Additionally, practicing mindfulness and stress-reduction techniques, such as meditation or exercise, can help maintain emotional balance.

If only there was a magic button that we could press that would solve all our life's problems and make all our stress disappear. Like winning Powerball, or something.

 

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