October 29th 2025.
As we go about our daily lives, our emotions play a significant role in the decisions we make, even when it comes to our finances. According to a recent report from Wealth Enhancement, nearly half of Americans avoid checking their financial accounts due to stress. This avoidance tactic is a common response to the overwhelming feelings that come with managing money, and it can have detrimental effects in the long run.
In the past year alone, 44% of Americans chose not to check their financial accounts because of stress or fear. This trend is particularly prevalent among the younger generation, with Gen Z being the most likely to adopt this behavior. It's no surprise that, with the current state of the economy and the rising cost of living, 61% of Americans report feeling stressed about their finances, and 42% say they are even more stressed than they were a year ago.
The consequences of this stress are clear: if it were to ease, more than half of Americans say they would be able to focus more on their family and relationships, and almost half would prioritize their health and wellness. This just goes to show the significant impact that financial stress can have on our overall well-being.
Fortunately, there is a solution. The report found that 88% of those who met with a financial advisor reported feeling less stressed afterward. This suggests that seeking professional help and guidance can greatly alleviate financial stress and anxiety.
It's no surprise that the past year has been filled with economic turmoil and rising costs, causing many Americans to feel overwhelmed and uncertain about their financial future. In fact, nearly half of adults in the United States avoided checking their financial accounts in the past 12 months due to stress or fear, regardless of the type of account- whether it be a checking, credit card, or investment account.
The report also shed light on the emotional toll that financial stress can take on individuals. Almost 60% of Americans experience difficult emotions like anxiety and frustration when thinking about their finances. This is especially true for Gen Z and Gen X, who are more prone to these tough feelings. Additionally, a third of adults say that their financial situation negatively affects their sense of self-worth, with Gen X being the most affected.
However, it's not all bad news. Many Americans also reported feeling good about their financial situation, with 40% expressing hope and 22% feeling a sense of pride. This goes to show that while financial stress is prevalent, it is not a universal experience.
When it comes to the cause and effect of financial stress, the report found that daily living expenses and housing costs were the top stressors for Americans. This is followed by healthcare costs, which have been brought into sharper focus due to the recent government shutdown. As a result of this strain, nearly a quarter of adults have had to pause or reassess their retirement planning, with Millennials and Gen X being the most affected.
However, seeking professional advice during these stressful times can be a positive step towards a more secure financial future. The report found that more than half of respondents said that if money were not a stressor, they would focus more on their family and relationships. This could mean making small changes in daily life, like cutting back on discretionary spending to save up for a weekend away with loved ones.
But seeking professional help does not have to be the only way to manage financial stress. Talking through our emotions and beliefs can also be a powerful exercise. The report found that nearly half of Americans turn to their inner circle for comfort and advice when dealing with financial stress. And while only 33% of respondents have met with a financial advisor in the past year, the impact of these conversations is significant, with 88% reporting feeling less stressed afterward.
It's important to remember that no one has complete control over their financial future, and it's normal to experience mixed emotions and stress when dealing with money. However, taking small, incremental steps and seeking professional advice when needed can help manage these feelings and lead to a more positive outlook. After all, as the saying goes, "Rome wasn't built in a day." The same applies to our financial well-being.
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