Find Out The Number One Cause Of Financial Stress In Iowa
Stressed about out your finances? Don’t worry, you’re not alone. A new survey found that over 50% of Americans are stressed out about money. But what is causing all the stress? GOBankingRates conducted a survey asking people, “what is your number one source of financial stress?” The most common answer? Debt.
The survey also found that results varied by region. The number one money fear in the Midwest and the South is ‘never being able to retire’. In the Northeast, it’s ‘living in debt forever’. The fastest growing worry though is retirement. A majority of people surveyed live paycheck to paycheck and aren’t able to save for their retirement. The survey found that a whopping 34% of Americans have NO money saved towards retirement.
The survey also noted that money worries vary by state. What is the number one money worry in Iowa? Healthcare. Even though single and family premiums for employer based health care are lower in Iowa than most states, premiums on the individual market are higher than average. And let’s face it, the rising cost of health care continues to spiral out of control.
You can check out complete results about all our of money fears HERE. But chances are, you already know what those are.