When it comes to your money, what are your biggest financial worries?
Paying the bills?
That massive chain of student loan debt wrapped around your neck?
There is no shortage of issues to worry about. At each stage of life we face something that puts us on edge. This anxiety about the present and the future drives our choices for good or for bad as we attempt to solve the problems that keep us up at night.
Over the years I’ve learned how to let go of the worry that can so easily bind me up. There is a fine line between worrying about the future and planning for it. Planning for it is prudent and wise. Worrying about it robs us of living in the present and maximizing all that today has to offer.
Whether you are a worrier or not the fact remains we all face financial challenges. Even the wealthy have problems they must deal with. What’s dominating your thoughts? See how you fit in with the rest of Americans in the infographic below.
Americans Deepest Financial Worries
What Stands Out to You?
The infographic has a good deal of information to digest. For me, some of the most telling percentages are those at the very beginning.
56% of Americans have a positive view of their finances. Yet, 57% say they are unprepared for an emergency, which is supported when we see that 83% of respondents list “lack of savings” as their biggest worry.
Those conflicting numbers could mean several things. Without a doubt we can surely say some in the 56% are delusional about the state of their finances. I don’t see how you can say, “My financial life is positive” if you don’t have the most basic of all financial steps completed yet (having an emergency fund). That’s a real disconnect to me.
What stands out to you? What can you most relate to?
Questions: What are your biggest financial worries? Do you have adequate savings for an emergency? If we were to break this down into generations, what do you think each one – Millennials, Gen X, Boomers and Older – worries about the most?
Infographic Source: Masters-in-Accounting.org