And things are getting worse says Bankrate.com
Money issues are keeping Americans awake at night and housing costs are one of the most prolific causes.
A new survey from Bankrate.com shows that more than half of respondents cited money worries as a reason for sleepless nights and 18% toss and turn over the ability to pay a monthly mortgage or rent bill (up from 12% in 2018).
By generation, 24% of Gen Xers (ages 39-54) lose sleep over paying rent or a mortgage compared to 14% of Baby Boomers (ages 55-73) and 20% of Millennials (ages 23-38).
There is some good news, as 55% are optimistic they’ll be able to resolve the issue and 85% are actively doing something to address it; although when it comes to some other debts things are less rosy with 51% who lose sleep primarily due to credit card debt saying they are pessimistic about improving their situation.
“When you’re wrestling with a big issue, it’s important to break it into manageable chunks. Devising a plan and starting to execute against it – piece by piece – is the best way to get things done,” said Bankrate.com analyst Ted Rossman. “Simply getting started should help you begin to feel better and settle your racing mind. That holds true whether you’re worried about health, money, relationships, work or anything else.”
