5 reasons why budgeting is good for health

If you’re feeling stressed about your finances, you’re not alone.

A 2020 Stress in America report from the American Psychological Association (APA) found that 64 percent of adults say money is a major source of stress in their lives. And just 39 percent of Americans could easily cover an unexpected $1,000 expense with their savings, according to a 2021 survey conducted by financial publisher and comparison service Bankrate.

According to a 2021 PWC survey, financial stress has only increased for many during the pandemic. And when it comes to our health, that’s not good.

“Financial stability is so important to survival,” says Sheila Dowd, PhD, an associate professor in the division of psychiatry and behavioral sciences at Rush Medical College in Chicago. “The anxiety associated with that can trigger a stress response.”