It's no secret that financial education is a good thing, especially in the current economy. What is not common knowledge, however, is that financial education can improve a person's physical health in addition to their financial health.
A recent study by the American Psychological Association found that money was respondents' leading source of stress. And, an Associated Press/AOL, poll comparing those with high debt-stress with those who had low debt-stress, found the following:
- Twenty-seven percent with high debt stress had ulcers or digestive tract problems, compared with eight percent with low debt-stress.
- Forty-four percent with high debt-stress had headaches or migraines, compared with four percent with low debt-stress.
- Twenty-three percent with high debt stress felt they were suffering from depression, compared with four percent with low debt-stress.
- The heart attack rate of those with high debt-stress was double that of those with low debt stress.
- Sixty-five percent more people with high debt-stress suffered from muscle tension or lower back pain than those with low debt-stress.
Financial Education Can Help!
Research shows that financial education programs can help build confidence by shaping new attitudes and behaviors toward money. In fact, a recent TIAA-CREF Institute study found that people with a high degree of financial literacy are more likely to plan for retirement, and people who plan for retirement have more than double the wealth of people who don't. And, according to MetLife's Tenth Annual Study of Employee Benefits Trends, consumers who attend financial education training programs are 25 percent more likely to feel in control of their finances compared to those with no financial education or training.
Don't let financial concerns burden you any longer! Learn how to take control of your finances and build a healthy financial future.
Wellbeing in the USA shows significant disparities, driven by race, sex, age, and location