A new Bankrate survey indicates that 56% of adults in the United States cannot sleep at night due to some kind of financial trouble. The generation with the hardest time paying bills and making ends meet is Generation X, which has always had money troubles. Analysts note that adults ages 39 to 54 often have a hard time making ends meet and are saddled with credit card debt.
What Are People Thinking About When It Comes to Money?
- Credit card debt
- Paying monthly bills
- Retirement savings (or lack of)
- Education expenses
- Paying the mortgage or rent
- Sock market insecurity
What Can You Do About Staying up All Night Thinking About the Money You Don’t Have?
There are some ways to rest peacefully without counting sheep including:
- Create a payment plan: write down your monthly expenses and choose to begin paying back debt with the highest interest rate first. If you create a repayment plan, you’re less apt to worry about how you’ll pay all of that debt back.
- Consider an interest-free balance transfer card: you may be able to shift some debt with heavy interest to an interest-free option, which will help put your mind at ease.
- Start saving for retirement: we say this all the time but it’s absolutely true -- it’s never too late to begin saving for retirement. Put aside as much money as you can monthly for a retirement plan and do not spend that money. Just knowing that you have a backup for retirement will ease some financial stress.
We want you to sleep at night, so please contact us if you think you might have too much debt to handle or need help figuring out what to do next.