Money Crisis Particularly Hard on American Women
The American Psychological Association (APA) gauges the emotional health of the country with an annual survey and its latest, the 2008 Stress in America survey, reveals the level of stress in the nation skyrocketing right alongside our nation’s mounting financial crisis, and women seem to be the hardest hit emotionally.
Providing for their families’ basic needs is the main concern of more than half the adults in the country, many of whom are feeling an increasing degree of stress in their daily struggles to keep up. Women seem to be feeling the burden the hardest, although 80% of all survey respondents say the economy has become a significant cause of stress today, up from 66% last April.
Here is a recap of the stressful situations faced by most Americans today, based on how many women say the issue in question is stressful to them versus men reporting stress over the same issues:
- 83% of the women are stressed out about money; 78% of the men agree.
- The economy in general stresses 84% of the women and 75% of the men study participants.
- Job stability worries 57% of the women and 55% of the men.
- 66% of the women are concerned about the cost of housing, compared to 58% of the men worrying about the same thing.
- Health problems that affect their families are the source of stress for 70% of the women and 63% of the men.
Age affects the degree of stress and worry over finances, too. The APA categorizes people according to age:
- Matures (age 63 and older);
- Boomers (44 to 62 years old);
- Generation X (ages 30 to 43); and
- Millennials (ages 18 to 29).
Mature and Boomer women report a higher degree of stress about the economy in general and many of them say financial woes are more stressful than personal health concerns. Job stability and family health matters are the top concerns of Boomer women.
Mature women report a dramatic increase in their stress levels in the six-month period from April to September. Their three biggest concerns:
- The economy, according to 92%, an increase of 18 points since April;
- Family health matters, say 87%, up by 17 points; and
- Money, say 77%, up 15 points in six months.
Younger men and women are not immune to financial worries although their concerns are for different aspects of the economy than the older study participants. Money is the source of stress for 89% of Gen X women and housing costs worry 75% of the Millennial women.
More Americans are reporting an increase in stress-related physical symptoms this year, with 47% of American adults saying they are trying to cope with more stress now than before. Along with stress comes some coping behaviors that may adversely affect sound physical and emotional fitness.
Using ratios from one year to the next (2008:2007) to measure increased levels of stress, the APA survey revealed:
- More people feel fatigued by the stress (53%:51%);
- Angry, irritable feelings (60%:50%); and
- Sleepless nights (52%:48%);
Women report more physical symptoms of stress than men do:
- Fatigue (57% women:49% men);
- Irritability (75%:55%);
- Headaches (56%:36%); and
- Feelings of sadness or depression (56%:39%).
Some of the unhealthier coping behaviors Americans are resorting to to see them through this financial crisis are:
- 48% are overeating or are making unhealthy food choices;
- 39% skipped at least one meal in the previous month due to stress;
- 56% of the women say they ate poorly because of stress versus 40% of the men who say they do so;
- 25% of the women say they used shopping as a stress-relieving activity while 11% of the men reported doing so;
- About 18% of all Americans are turning to alcohol to help them cope; and
- 16% are turning to tobacco products.
The health consequences of prolonged stress are the most severe when symptoms are ignored or poorly managed, according to the APA. To ease the physical toll of stress, the APA suggests:
- Focus only on what’s happening in your personal life;
- Don’t get too involved with the doom-and-gloom projections, estimates, and commentaries being aired at the moment;
- Evaluate your own personal financial situation to see exactly where the stress is coming from;
- Turn to family, friends, and well-respected advisors for feedback and ideas;
- Allow others to help you;
- Do consider professional help when feelings of stress get overwhelming.
The on-going Stress in America survey is a part of the APA’s public education campaign, Mind/Body Health.
Source: American Psychological Association (APA)










