Recent research shows that financial stress has a major impact on the mental and physical health of Americans.
The survey, conducted by Talker Research, a doctor on Health included, on Demand, surveyed 2,000 US adults, and found that 70% experienced a rise in financial anxiety, a record high. Approximately 40% of respondents reported having mental health days off from work or school due to money-related stress.
The study also revealed that 41% of participants experienced chronic physical pain. Additionally, 33% say that affordability in healthcare has had a direct impact on mental health over the past year, with 29% citing costs as a barrier to accessing professional mental health care.
The younger generation appears to be particularly affected, with 40% of millennials and 37% of Gen Z respondents reporting that medical costs had a negative impact on mental health.
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Despite growing awareness of mental health issues, only 14% of those surveyed are currently undergoing treatment or counseling. Barriers for professional assistance include cost, difficulty in finding the right provider, and lack of time.
To address these challenges, many individuals have adopted self-care practices to manage their mental health. These include listening to music, engaging in hobbies, exercising, ensuring adequate sleep, and spending time with your loved ones. Approximately 71% use weekly physical activity to manage stress, and 61% will be openly discussing their mental health with friends and family.
