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.