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Capital One CreditWise Poll: 73 Percent Cite Finances as Top Stress

Capital One CreditWise Poll: 73 Percent Cite Finances as Top Stress
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By    |   Friday, 18 October 2019 11:32 AM

Personal finances reportedly are the top cause of stress in most Americans’ lives, according to a recent poll.

Finances are the leading cause of personal stress, 73% of respondents claimed, according to a new Capital One-CreditWise survey, CNBC reported.

Money woes topped other traditional sources of angset: politics (59%), work (49%) and family (46%).

Major life milestones were most often found to be the cause of such financial stress, the survey found. More than half (62%) were stressed about their money in relationship to buying a house, 61% were stressed because of a car purchase.

Younger generations are even more stressed out about finances than older generations with the majority of Gen Zers (82%) and millennials (81%) saying finances are at least somewhat stressful, CNBC quoted the survey as saying.

"Despite finances being a major cause of stress, respondents are optimistic about their financial future. Roughly two in five (42%) said they expect to be better off financially in a year from now," CNBC explained.

However, other recent data paint a much more optimistic landscape.

Americans’ sentiment about the buying climate reached an all-time high last week, adding to signs that a strong labor market, income growth and tame inflation will help keep consumers spending and support an economy slowed by trade disputes and manufacturing weakness.

Better views of whether it’s a good time to buy lifted the overall Bloomberg Consumer Comfort Index to 63.5 the week ended Oct. 13 from 62.7, data released Thursday showed.

The confidence measure stands 1.2 points from an 18-year high reached in late July. The comfort gauge of personal finances also rose, while the measure of confidence in the economy was little changed.

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Personal finances reportedly are the top cause of stress in most Americans’ lives, according to a recent poll.
finances, personal, stress, top
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2019-32-18
Friday, 18 October 2019 11:32 AM
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