Financial Stress

Stress is becoming a way of life for many of us. Regardless of income many are starting to feel the pinch … and keeping up each month is harder than has ever been.

I have noticed after a number of meetings with my clients in the last 6 months, incomes are under pressure, personal debt is climbing and everyday costs are starting to rise.

Add to this the prospects of potential job loss … most are not prepared as the economic slow down approaches the average family.

Today I found an article and infographic that confirms my worries (Thanks to Guy Kawasaki at alltop.com for the link)

According to an on-line study of US of 2,210 adults collected by Harris Interactive on behalf of CouponCabins.com the top 5 contributing financial factors impacting families are:

59% are Living paycheck to paycheck
40% have unexpected (up planned for) expenses
35% are unable to keep up with the monthly bills
32% have Student Loan payment debt issues
26% are pressured by bloating credit card debt

This has led to many using retirement savings early to try to keep up, the inability to save for future expenses like a leaking roof or car repairs. If that wasn’t bad enough prices for many things like gas, and food are starting to rise.

The study is not all bad news, as many have cut back spending are trying to live within their means.

Check out the infographic for more details from the study below.