In spite of improvements in the U.S. economy since the Great Recession of 2007-2009, a 2015 survey by the American Psychological Association (APA) reports that many of us are still experiencing high levels of stress about money.
“Regardless of the economic climate, money and finances have remained the top stressor since our survey began in 2007,” according to APA CEO Norman B. Anderson. “Furthermore, this year’s survey shows that stress related to financial issues could have a significant impact on Americans’ health and well-being.”
“Stress is an epidemic in our country, and sometimes people turn to unhealthy methods of dealing with it, whether it’s unhealthy foods, or drugs and alcohol, or violence,” said U.S. Surgeon General Dr. Vivek Murthy in a 2016 New York Times interview.
Unchecked chronic stress can lead to health issues like depression, suicide, heart disease, high blood pressure, diabetes, obesity, cancer, dental problems and a weakened immune system.
This is a primary reason that modern workplace wellbeing programs are incorporating financial education as part of a holistic approach to reduce employees’ stress.
If you’re looking for an excellent resource to help you and your family become more financially savvy, get familiar with the work of Beth Kobliner.
Kobliner, a former columnist for Money magazine, was selected in 2010 by former President Barack Obama to be a member of the President’s Advisory Council on Financial Capability. There, she created MoneyAsYouGrow.org. This website is a free resource for parents and caregivers to help kids develop money skills.
Kobliner also authored two 2017 New York Times bestselling books. The first, “Make Your Kid A Money Genius (Even If You’re Not): A Parents’ Guide for Kids 3 to 23,” guides parents on how to teach their children how to manage money. For a quick auditory overview of the book, listen to a 49- minute podcast produced by The Art of Manliness. In that episode (No. 297) titled “Making Your Kid a Money Genius,” Kobliner highlights some key points of the book.
Her second book is a revised and updated fourth edition, “Get a Financial Life: Personal Finance in Your Twenties and Thirties.” It’s geared toward millenials—those born between 1983-2000.
According to a 2014 Pew Report, “On some key measures…this generation of college-educated adults is faring worse than Gen Xers, Baby Boomers or members of the Silent generation when they were in their mid-20s and early 30s.” “Get a Financial Life” can help millenials decrease debt, avoid common money mistakes, and better understand how to develop their personal finances.
If you’re not looking for advice to help children and you were born before 1983, check out Tony Robbins’ new book published February 2017, “Unshakeable: How to Thrive (Not Just Survive) in the Coming Financial Correction.”
I enjoyed listening to “Unshakable” on the Audible app. It’s as if Robbins is having a conversation with the listener. He covers how to create true financial freedom, how to protect yourself and your family from inevitable crashes to come, what your 401(k) provider doesn’t want you to know, how to uncover the hidden fees of the biggest financial firms and mastering the mindset of true wealth. His self-named podcast is also chock full of great financial guidance.
If money is causing stress and dis-ease in your life, take a deep breath and dive into these resources.