Blogging for Change

Revealing the cure for financial stress

by Tanisha Warner on
4/24/2012
in Personal Finance

It’s no secret that financial education is a good thing, especially in the current economic climate. However, the extent to which financial education can benefit consumers is not as well-known despite the fact that research shows basic financial literacy can not only improve a person's financial health, but it can improve their physical health as well. 

A recent study by the American Psychological Association found that money was a leading source of stress for respondents. In addition, a poll conducted by the Associated Press/AOL, comparing those with high levels of debt-stress to those with low levels of 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.

Luckily, there's good news! Research shows that financial education can help lower these stress levels by building confidence and shaping new, positive attitudes and behaviors toward money. 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 with those who have no financial education or training.

So don’t let financial concerns burden you any longer! Learn how to take control of your finances and build a solid financial future by utilizing MMI's exclusive financial education resources. You can also find a financial education workshop in your area, or register for a free financial webinar! 

If you're not sure where to start, you can contact a counselor 24 hours a day, seven days, for a free debt and budget assessment.  

Tanisha (Warner) Smith is a former communications manager at MMI.

Recommended Articles

Man sitting in front of pile of bills, trying to understand his options.
Professional Budget Advice
Make the most of every dollar and start building toward your dreams! Budget counseling is FREE and available 24/7.
Learn More
Learn more
  • Better Business Bureau A+ rating Better Business Bureau
    MMI is proud to have achieved an A+ rating from the Better Business Bureau (BBB), a nonprofit organization focused on promoting and improving marketplace trust. The BBB investigates charges of fraud against both consumers and businesses, sets standards for truthfulness in advertising, and evaluates the trustworthiness of businesses and charities, providing a score from A+ (highest) to F (lowest).
  • Financial Counseling Association of America Financial Counseling Association of America
    MMI is a proud member of the Financial Counseling Association of America (FCAA), a national association representing financial counseling companies that provide consumer credit counseling, housing counseling, student loan counseling, bankruptcy counseling, debt management, and various financial education services.
  • Trustpilot Trustpilot
    MMI is rated as “Excellent” (4.9/5) by reviewers on Trustpilot, a global, online consumer review platform dedicated to openness and transparency. Since 2007, Trustpilot has received over 116 million customer reviews for nearly 500,000 different websites and businesses. See what others are saying about the work we do.
  • Department of Housing and Urban Development - Equal Housing Opportunity Department of Housing and Urban Development
    MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
  • Council on Accreditation Council On Accreditation
    MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • National Foundation for Credit Counseling National Foundation for Credit Counseling
    MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.