How Does Financial Stress Affect Your Mental Health?

How Does Financial Stress Affect Your Mental Health?

Article By: Chrissy Phelps

Nationwide, around 33% of Americans are in debt, though percentages vary significantly from state to state. In Louisiana, for instance, around 46% of adults have debts in collection, compared to only 17% of those living in Minnesota. Debt is considered the number one source of stress and it doesn’t look like the situation will be improving anytime soon. Statistics indicate that for around 20% of people, mortgages are the largest source of debt, followed by student loans. Among millennials, however, student loans are the leading source of debt with median amounts owed hovering between $10,000 and $14,000. Read more